Indiana: Sports betting sees nearly 12% decline in wagers in May, state generates $33.5 million in revenue

Indiana saw a dip in sports betting by nearly 12% in May, as compared to last month, with a total of $284 million in wagers, as per recent data released by the Indiana Gaming Commission. The state also saw a decline of 8.1% in sports wagers when compared to the same month last year. However, Indiana’s revenue through sports wagers in May was $33.5 million, which was 14.3% higher than in April and 5% higher than in May 2022

The maximum revenue was generated by Blue Chip Casino and partner FanDuel, who retained the top spot for revenue in Indiana, generating $13.3 million in revenue from $96.6 million placed in bets. 

Fanduel sportsbook Bluechip casino, Michigan City, Indiana

The second place was secured by Ameristar Casino and its partner DraftKings, generating a revenue of $10.9 million from a $95.6 million handle. It was followed by Belterra Casino and partner FanDuel who generated $3.5 million in revenue off a $26.5 million handle.

Indiana’s adjusted gross revenue for May reached $33.8 million, which was 10.1% more than $30.7 million in May last year and also 15% ahead of $29.4 million in April this year. Indiana collected $3.2 million in sports betting tax in May 2023.

Barstool sportsbook, Ameristar Casino, Indiana

Local media reports note that the majority of Indiana’s last month wagers came in the form of parlays, which is when a bet is placed on multiple outcomes to occur. For a parlay bet to win, all outcomes within the parlay must be selected correctly. 

Indiana generated $79.4 million in parlay bets last month, which was up nearly 3% year over year. In terms of individual sports, basketball raised the highest individual sport with $72 million in wagers, followed by baseball at $64.9 million. 

Analysts at PlayIndiana attributed the dip in Indiana’s sports betting to the maturity of sports betting in the state and the increase in options in the neighboring states.