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Betting.net / Indiana Posts Broadly Sports Betting Figures For June 2023

Indiana Posts Broadly Sports Betting Figures For June 2023

Publish Date: July 21, 2023
Fact checked by: Alyx Tzamantanis

Figures released last week by the Indiana Gaming Commission have shown that the state’s sportsbooks have enjoyed a 22% bump in revenues, yet took 13% less in the overall sports betting handle.

Indiana POSITIVE SPORTS BETTING FIGURES

There was a total of $224 million in sports bets taken in the Hoosier State in June 2023. This was nearly a quarter lower than the $256.3 million that was taken in the same month in 2022.

June is traditionally a slow month for online sportsbooks due to the relative lack of major sporting events. While there was a lower sports betting handle, Indiana’s online sportsbooks enjoyed a stronger month in terms of revenues that exceeded $19 million.

This is a 22% increase over the same month last year where there was just $15.6 million in revenues earned. The increase in sportsbook revenues helped the Hoosier State pick up $1.8 million in sports betting taxes.

Who’s winning the sports betting battle in Indiana?

June proved to be a great month for DraftKings with the sportsbook claiming over 40% of the state’s sports betting handle. This marked the biggest share of the market in over two years.

There was over $88.9 million spent at the DraftKings IN sportsbook last month and 99% of this was via its online operations. What’s remarkable is the fact that DraftKings was the only sportsbook to record year-on-year gains in the number of bets taken with a 24% increase compared to the previous year.

Following close behind was FanDuel who took in nearly $70 million in sports bets and claimed 31% of the Indiana sports betting market. However, FanDuel suffered a 12% drop in its sports betting handle compared to June 2022.

While DraftKings has enjoyed an increased share of the overall sports betting handle in the Hoosier State, it was FanDuel who ended up getting a greater share of the sports betting revenues. This is because FanDuel managed to claim 47% of the market with its $8.3 million earned in online revenues, which eclipsed the 32% earned by DraftKings’ $5.7 million in sports betting revenues.

Elsewhere, BetMGM had a largely positive month with $1.9 million in revenues helping it get a 11% share of the online sports betting revenues in Indiana. However, Barstool suffered a dismal month as the sportsbook actually lost $2.4% in revenues in June 2023. This saw the sportsbook paying out $103,300 more than it received.

What else is going on in Indiana sports betting?

While things might have been slowly down in the sporting arenas, it’s been a little busier behind the scenes at Indiana’s online sportsbooks. Hard Rock Sportsbook changed its name to Hard Rock Bet ahead of a move to combine its sports betting platform and iGaming service in one app.

Indiana also welcomed the launch of the PrizePicks daily fantasy platform that was issued a temporary license earlier this July. Finally, July was the month that Indiana’s sports fans said goodbye to Bally Bet as the sportsbook went offline. However, it’s expected to be back once it integrates new technology from Kambi.

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