Indiana
Indiana June sports betting handle down 17% from May
Neil is a gambling industry veteran with over 15 years experience as a content writer, editor and speaker at events. He has a Masters degree in English Literature and Philosophy and has combined this analytical inquisitiveness with a passion for sports betting and casino gaming. Neil started his career with Bettingpro.com and helped build not only that site but various others such as LiveTennis.com, LiveDarts.com and numerous other sports informational sites, including GG.co.uk and RacingTips.com He then made the transition to the North American market, working both in the UK and in New Jersey to launch various sports betting and casino sites, including AmericanBettingExperts and NewAmericanCasinos. Working with regulators, Neil has helped to review sports betting sites and also test the regulated betting apps in a professional capacity. He now works almost exclusively in the US market and is one of the main reviewers and fact checkers on SportsLens gambling content. He also speaks at various gambling conferences including ICE, iGB Live and SBC Americas and has contributed to GamblingInsider, EGR Magazine and a number of others in a consulting capacity.
All posts by Neil RoartyUpdated16 hours ago on April 27, 2024
The State of Indiana has reported a June handle of US$256.3m, down 17% from May 2022. The figure is slightly up, however, in June 2021 which reported an online sports betting handle of US$218m and retail handle of US$27.9m (total US$245.9m).
Taxable Adjusted Gross Revenue stood at US$15.76m, therefore generating sports wagering tax for the state of US$1.5m. Compared to the prior financial year, this is also down, with AGR dropping from US$25.4m and tax receipts falling from US$2.4m.
Why did the handle plummet from May?
Comparing the handle and revenue on a year-to-year basis provides instructive lessons, although nothing particularly staggering, about US betting patterns. When looking from June 2021 to June 2022, the most notable reduction on a sport-by-sport basis comes from basketball, for which the handle reduction can almost entirely be attributed to.
With a US$41m reduction in handle for the month to US$36.4m, baseball wagering absorbed some of the shortfall rising from US$60m (2021) to US$84.6m in 2022.
Wagering on Parlays increased too, and there was also a marginal increase in the ‘other’ wagering category. The ‘other’ category covers every sport outside the big three for US punters (basketball, baseball, football).
The NBA 2022 championship has recently concluded, with Stephen Curry’s MVP performance spearheading the Golden State Warriors’ charge – providing the Warriors with a fourth title in eight years. The Championship Series took place between June 2-16th, providing just six matches for punters to bet on. Contrasting to 2021, the Covid-19 impacted schedule led to over 40 individual matches available for those wishing to have a bet.
It goes without saying that a busier content schedule leads to more betting; although Indiana’s sports betting handle of US$36.4m on basketball on just the finals at all is not to be scoffed at. Further growth can potentially be achieved in the total addressable market when US consumers take a larger interest in competitions outside of the big three sports.
