Indiana Sees $246M in Sports Betting Handle for June 2021
The Indiana Gaming Commission has released the sports betting numbers for June, and it was a month of mixed results for the state. The total betting handle for the month represented a small drop, but there was an increase in the revenue.
For June, the total sports betting handle was $246.3 million, which was a drop of 3.2% from the $254.4 million in May. Unfortunately, this is a trend that keeps continuing in the Hoosier State and will likely continue over the next few months.
The mobile handle for the state was just $223.9 million in June, after it was $234 million in May. Despite the clear drop in the mobile betting handle, this form of betting still accounted for over 91 percent of all wagers placed in the state.
Indiana emerged as one of the sports betting leaders in the Midwest back in 2019, but it has now been passed up by states such as Illinois and Michigan. Iowa is another Midwest state that has announced June totals, and the drops in the total handle were similar between the two states.
Even though the total sports betting handle was lower in the month of June, Indiana was able to see a 35% increase in total revenue. For the month of June, the taxable sports betting revenue was $25.5 million.
With sportsbooks seeing a much larger amount of taxable AGR in June, the state was also able to receive much more money in taxes. $2.4 million in tax revenue was collected in June, a 35.1% jump from the month of May.
Basketball King in Hoosier State
Through the first six months of 2021, basketball has been the most popular betting market in the state of Indiana. Last month, basketball accounted for just over $77 million in wagers, easily beating out the other betting option.
This will change when the NBA Playoffs end and football will once again become King later this fall. In June, baseball brought in $60.4 million in wagers making it the second most popular sport to bet on.
Parlay betting has become one of the top betting options for Indiana sports bettors, and that trend has extended throughout the US as well. That form of betting was responsible for nearly $59 million in wagers.
Olympic betting has been approved in the state, and that could provide a boost to the numbers in July. This will be the first time that bettors in the state are able to bet on the Olympic Games.
DraftKings Remains on Top
DraftKings and FanDuel have become the top two sportsbooks in Indiana, and that battle continued in May. DraftKings was first on the list with over $83 million in the total betting handle, with FanDuel coming in second at $65.1 million.
Barstool Sportsbook launched in May, and June was the first full month for the operator. Last month, Barstool Sportsbook accounted for $34.1 million in June, and it could continue to challenge the top two operators.