On Monday, the Indiana Gaming Commission reported their sportsbooks combined for an 11.1% hold in July. That was the third straight month that operators combined for a double-digit hold. This is Indiana’s longest streak since July – October 2022. Additionally, it was the 18th time in 59 months of legal wagering that Indiana sportsbooks hit a 10% hold. Thirteen of those 18 instances came within the last 25 months. That includes every July for the last three years. Indiana collected $29 million in sports betting revenue for July. That was up 24.9% compared to the figures they had in 2023. Through the first seven months of 2024, sportsbooks in Indiana have combined for $266.5 million in revenue. Compared to July 2023, those numbers are up 25.2%.
FanDuel was the top dog for Indiana sportsbooks in July
FanDuel’s $16.4 million spread handle in July 2024 was barely enough to edge out their industry rival, DraftKings. However, FanDuel did have the top revenue spot with $10.5 million in winnings. They had a 13.5% hold and surpassed $100 million in revenue for 2024. This was also FanDuel’s fourth straight month with a handle of 12% or higher. In July DraftKings had $94.4 million betting handle. The industry leader had a 10.7% hold and just exceeded $10 million in winnings for this year alone. Additionally, DraftKings got over $1 billion in handle for 2024. So far this year, DraftKings has a 9.1% hold, higher than the 8.5% they saw in 2023.Â
In July, BetMGM was comfortable with third place in revenue and hold. BetMGM had a 9.8% hold for $2.5 million in winnings from $25.4 million worth of bets placed. They moved past $20 million in revenue for 2024. However, BetMGM’s $21.9 million haul is slightly behind the pace they set in 2023. Caesars Sportsbooks’ 10.3% hold was their best since an 11.1% hold in September 2022. This was also Caesars’s first month with a double-digit hold since last July. They moved with $203,000 of $10 million in year-to-date winnings. Finally, Bet365 has been a profitable one for the England-based sportsbook. They had $1.2 million in winnings from a 9.3% hold and a $13.1 million getting handle.
