Indiana Sports Betting Starts Picking Up Again in August, But Revenue Falls

The Indiana Gaming Commission reported recently that the state's retail and online sports-wagering handle for August was $215.6 million, up around 10.8 percent from the approximately $194.5 million in action taken in July.

Geoff Zochodne - Sports Betting Journalist at Covers.com
Geoff Zochodne • Senior News Analyst
Sep 13, 2021 • 15:46 ET • 1 min read
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Business began picking up again for Indiana sportsbooks last month, but the higher volume of bets didn’t translate into more revenue for operators. 

The Indiana Gaming Commission reported recently that the state's retail and online sports-wagering handle for August was $215.6 million, an increase of around 10.8 percent from the approximately $194.5 million in action taken in July

However, while the dollar amount of betting was higher in August, operators managed to squeeze less revenue from those wagers than they did in July. 

After paying out winning bettors and making any needed adjustments, sports-wagering revenue in Indiana last month was $16.5 million, making for an unofficial win percentage of nearly 7.7 percent. The August take for Indiana sportsbooks had been $17.4 million in adjusted gross revenue, or a hold of 8.9 percent. 

Football season beckons

Even if revenue was down, the increase in overall wagering could bode well for the coming months. August's numbers included betting on the National Football League's preseason, but the NFL regular season kicked off just this past week, beginning one of the busiest times of the year for the legal sports betting industry.

Last month's most popular sport for Indiana bettors was baseball, which collected approximately $68.3 million in wagers. However, the state's books also drew almost $13.9 million in football-related bets, up from nearly $2.2 million in July.

The tax collected from sportsbooks in August in the Hoosier State was $1.57 million. That was down slightly from the approximately $1.66 million reported for July.

The top online sportsbook in the state in terms of handle for August was DraftKings, with bets amounting to $74.2 million last month. Coming in second was FanDuel, which booked 52.6 million in handle.

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Geoff Zochodne, Covers Sports Betting Journalist
Senior News Analyst

Geoff has been writing about the legalization and regulation of sports betting in Canada and the United States for more than three years. His work has included coverage of launches in New York, Ohio, and Ontario, numerous court proceedings, and the decriminalization of single-game wagering by Canadian lawmakers. As an expert on the growing online gambling industry in North America, Geoff has appeared on and been cited by publications and networks such as Axios, TSN Radio, and VSiN. Prior to joining Covers, he spent 10 years as a journalist reporting on business and politics, including a stint at the Ontario legislature. More recently, Geoff’s work has focused on the pending launch of a competitive iGaming market in Alberta, the evolution of major companies within the gambling industry, and efforts by U.S. state regulators to rein in offshore activity and college player prop betting.

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