The summer slowdown continues to strike sports betting in Indiana, as the Hoosier State’s handle fell again last month.
The Indiana Gaming Commission reported on Friday that retail and online sportsbooks handled $206.6 million in bets for July, the lowest monthly total since July 2021. The handle was also down roughly 20% from June, when wagering sat at $256.3 million but grew by 6% over a year earlier.
Still, July was the second consecutive month in which Indiana’s sportsbook handle was lower than $300 million. It also continues a trend for the Midwestern state, as the monthly sports-wagering handle has been descending since it hit $476.8 million in March, thanks to the state’s love of basketball.
Online and retail sports betting revenue bounced back with a 10.1% hold in July, giving Indiana operators $20.9 million in taxable receipts.
Are they ready for some football?
Taxwise, July’s handle brought in almost $2 million for the state, which topped June’s $1.5 million in receipts.
Indiana has a relatively reasonable tax rate for operators at 9.5%, in addition to a $50,000 annual license renewal fee. While the low cost has caught the attention of several online sportsbooks, the rules around legal sports betting in Indiana require operators to partner with a casino before accepting bets.
The handle for baseball — the busiest of the Big Four major leagues in July — grew 17% year-over-year to $76.1 million but was still down 10% compared to June’s wagering. Bettors in Indiana may be saving themselves for football season, for which they’ll have in-state teams to cheer, unlike Major League Baseball.
FanDuel has led all online operators in Indiana in monthly handle since February. The bookmaker's majority owner now says the bookmaker has captured around half of the U.S. online sports betting market.