Indiana's sports betting market posted another strong month in May with sportsbooks reporting a 12.3% revenue increase on the total reported during the same time in 2024.
The Indiana Gaming Commission’s monthly report showed $43.8 million in sportsbook income, surpassing the year-over-year total and April's $40.2 million.
Key takeways
- Indiana's year-over-year sportsbook revenue increased 12.3% year-over-year.
- Basketball and parlay betting dominated, driving state tax income totals above those in April and May.
- DraftKings and FanDuel continued to have the lion's share of the state's sports betting market.
Operators combined to post a 10.1% hold rate, profitng more than $10 for every $100 bet. That also beat April's 9.2% hold and was close to 10.7% from May 2024.
Total betting handle reached $433.3 million, just behind $437.1 million in April but 19.8% ahead of last May's $361.6 million.
Basketball and parlays reign supreme
The productive sports wagering month resulted in plenty of state tax funding, with Indiana receiving $4.2 million in May. That beat out March and April's totals and pushed the state to $21.7 million in sports betting tax income since January. The $4.2 million was also up 12.3% year-over-year from the $3.7 million generated last May.
With football’s betting options largely in futures markets, basketball paced the system with $112.6 million in wagers. Baseball was second with a $76.7 million handle, followed by “other” sports at $103.3 million.
Parlay bettors dominated the market, combining for $138.2 million in bets.
DraftKings keeps market dominance
| Operator | May 2025 Online Handle | Online Revenue |
|---|---|---|
| DraftKings (Ameristar Casino) | $158.6 million | $14.1 million |
| FanDuel (Blue Chip Casino) | $128 million | $15.6 million |
| BetMGM (Belterra Casino) | $32.9 million | $3.2 million |
| Fanatics (Hollywood Lawrenceburg) | $27.6 million | $2.6 million |
| bet365 (French Lick Resort) | $24.8 million | $2.2 million |
| William Hill (Harrah’s Hoosier Park) | $20 million | $1.2 million |
In online totals, DraftKings led Indiana's sports betting market with a $158.6 million handle and $14.1 million in revenue. FanDuel was second in handle ($128 million) but led in income ($15.6 million), flipping the script from being second in April.
The pair combined for 73.4% of Hoosier State sports wagering activity, mirroring their national dominance.
BetMGM finished third, with a $32.9 million haul and $3.2 million profit.
Very little separated Fanatics ($27.6 million handle, $2.6 million revenue) and bet365 ($24.8 million handle, $2.2 million income). William Hill rounded out top six operators with $20 million in bets and $1.2 million in profit.
Only ESPN Bet of the remaining five online books broke $1 million in handle.
Pacers to drive Indiana betting market
Indiana's June revenue report should show increased betting activity because of the Indiana Pacers’ foray into the NBA Finals.
The Pacers entered the playoffs as the fourth seed but pulled off a number of stunning comebacks, powering them to the Finals for the first time since 2000.
Meanwhile, nearby Illinois is at the center of a back-and-forth between sportsbook operators and legislators. The state announced earlier this month a 25-50-cent per-bet tax, prompting FanDuel and DraftKings to levy 50-cent surcharges for every wager.
