Indiana sportsbooks secure May handle of $254m
Indiana sportsbooks recorded May handle of $254m, an increase of 7.6% from April even as revenue dipped slightly.
The month-on-month increase in wagers can be credited to the running of the Indianapolis 500 and promotional offers tied to the NBA’s Indiana Pacers play-in tournament appearance, according to PlayUSA analysts.
Though handle was up considerably from April, revenue fell 6.1% to $18.9m. The drop in revenue is no doubt in part related to those Pacers promotional offers.
Online wagers accounted for 89.8%, or $228.4m, of Indiana May handle, up slightly from a 88.4% share in April. Retail sportsbooks generated another $26m in handle.
DraftKings and FanDuel were neck-and-neck for the market lead in wagers last month, with DraftKings ultimately edging out its rival with $81.8m compared to FanDuel’s $79.3m. FanDuel, however, saw the most revenue with $7.6m in gross receipts, while DraftKings won $2.9m.
BetMGM win was just behind DraftKings with $2.5m on handle of $29.3m. PointsBet ran a distant fourth with handle of $11.3m and gross receipts of $795,000, while William Hill rounded out the top five in wagers with $8.2m. William Hill only saw win of $174,000, however.
Penn National Gaming’s Barstool Sportsbook launched on May 18 and in less than two weeks collected $6.3m in wagers, generating $268,000 in gross receipts.
Hollywood Lawrenceburg led retail sportsbooks with handle of $8.4m, well ahead of second-place Ameristar East Chicago with $4.4m.
Indiana sports wagering appears poised for a summer slow-down with the conclusion of the Pacers’ season. Indiana does not have MLB teams, though its proximity to the Chicago market generates wagering interest in the Cubs and White Sox.
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