Sports Betting

Indiana Sports Betting Handle Tops $362M For May

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Indiana Sports Betting Handle Tops $362M For May

The Indiana Gaming Commission reported sports betting handle of $361.6 million for May on Wednesday, a 27.6% increase from last year as basketball topped all other sports because of the Indiana Pacers and Caitlin Clark.

Indiana had the fifth-largest sports betting handle in May

Indiana’s basketball handle totaled $97.2 million, an increase of $25.5 million from May 2023 as the Pacers reached the Eastern Conference finals for the first time since 2014.

Clark, the No. 1 overall pick of the Indiana Fever in this year’s WNBA draft, has helped fill arena seats and attract new viewers. The cheapest price for Clark’s Fever debut matchup with the Connecticut Sun on Tuesday, May 14 was $77, per VividSeats. Her popularity caused the average WNBA ticket prices to raise 241%.

According to the WNBA, attendance is up 156% compared to last year. Arenas are being filled to 94% capacity as well. Over 600,000 fans have attended WNBA games in 2024 and viewership for nationally televised games is up 185%.

Indiana had the fifth-largest handle for May, trailing New York ($1.98 billion), North Carolina ($525.5 million), Maryland ($431.5 million), and Tennessee ($379.2 million).

Indiana currently has 13 active, licensed sportsbooks: Bally Bet, bet365, BetMGM, BetRivers, Betway, Caesars, DraftKings, ESPN BET, Fanatics, FanDuel, Hard Rock Bet, SBK, and Twinspires.

Unibet, WynnBET, MaximBet, and theScore Bet are no longer accepting wagers in the Hoosier State.

Hoosier state’s 13 retail sportsbooks, 12 sports betting apps combined for nearly $39 million in taxable revenue

The state’s 13 retail sportsbooks and 12 sports betting apps combined for almost $39 million in taxable sports betting revenue. That is a 15.4% increase compared to last year.

Although the handle was down 8.2% from April, revenue saw a 5.1% increase. Indiana’s coffers also collected $3.7 million in tax revenue from operators in May, bolstering the year-to-date total to $19.7 million.

Of course, sportsbook revenue is up 21.6% compared to the first five months of 2023.

In May, FanDuel led in revenue and DraftKings dominated for handle. FanDuel’s revenue was $15.8 million, up $8,760 from April despite a $16.7 million decline in wagering.

DraftKings came within $491,600 of its April revenue, totaling $12.6 million from $132.7 million in handle to post a 9.5% win rate. It was the first time DraftKings recorded consecutive holds above 9% since surpassing 10% in December and January.

According to year-to-date winnings, FanDuel has generated $82.5 million in Indiana overall. That’s $11 million more in revenue than DraftKings despite $113.6 million less in handle at $679.7 million.