Indiana's sports betting bounces back with $238M in handle in August; DraftKings takes the lead

The Indiana Gaming Commission released Monday its financial results for August. During the month, retail and online sportsbooks handled $238 million in bets, a 14.1% increase from July’s $206.6 million and a 9.9% increase year-over-year from the August 2021 total of $215.6 million. The favorable figures put an end to a four-month streak of decreasing monthly handles.

According to the latest report, Indiana retail and online bookmakers generated $25.4 million in taxable revenue. With Indiana’s taxable rate for operators at 9.5%, it translated to $2.4 million in taxes for the state. During the first eight months of 2022, Indiana sportsbooks have accepted $2.7 billion in wagers.

Up to date, there are 13 sportsbooks that are partnered with casinos in the state, several of whom launched within a month after wagering was legalized in September 2019. 

For the first time since February, DraftKings topped the chart for online wagers. The Boston-based company generated a $71.7 million handle in bets, versus FanDuel’s $69.6 million.

BetMGM was third with $28.6 million, followed by Caesars with $19.8 million. Barstool Sportsbook, BetRivers, and Unibet rounded out the list of operators taking over $5 million in handle during the month.

Baseball was the leader again, accounting for $77.6 million of August tickets — a $1.5 million increase from July and $9.3 million more than August 2021’s figure of $68.3 million.

The biggest gainer was football. With the preseason beginning in August, the sport pulled in $17.6 million, which is about $15 million more in wagers than July and was also a 23.5% increase from August 2021.

TENNESSEE AND INDIANA PLACE YOUR BETS AND GET THE PARTY STARTED

— Hard Rock Sportsbook (@HardRockSB) September 6, 2022

Last week, Hard Rock Sportsbook announced the launch of its mobile app in Indiana and Tennessee. The product went live in both states in which the Hard Rock brand currently operates a number of retail properties. 

Indiana is home to the Hard Rock Casino Northern Indiana, where a retail Hard Rock Sportsbook location opened in May. Meanwhile, Tennessee has three Hard Rock Cafes (Nashville, Memphis, and Pigeon Forge), and the Bristol Casino, located just across the Virginia state line.