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Indiana sports betting revenue declines despite higher handle in May


Revenue from sports betting in Indiana fell 5.5% month-on-month to $18.9m in May despite the US state experiencing a 7.6% increase in its handle to $254.4m.

Year-on-year, total adjusted gross revenue (AGR) was up 490.6% from $3.2m in May 2020, but last year’s figures were severely impacted by the novel coronavirus (Covid-19) pandemic, with many sports events cancelled or postponed, thus limiting betting options.

Handle rocketed 587.6% year-on-year from $37.0m in May 2020, while this amount was also higher than the $236.4m wagered in April of this year.

Basketball proved to be the most popular sport to wager on with players betting $82.4m in May. Some $50.5m was wagered on baseball and $1.4m on football, while $62.0m was attributed to parlay betting and $51.6m other sports.

The state was able to generate a total of $1.8m in sports betting taxes during the month.

Turning to individual operator performances and the Blue Chip Casino and its FanDuel sportsbook claimed top spot in terms of revenue, posting $7.7m off a handle of $80.0m.

Penn National Gaming’s Ameristar Casino partner DraftKings, which led to market in April, ranked second with posting $4.6m, despite having a higher handle of $89.2m.

Belterra Casino and its BetMGM sportsbook followed in third with $2.6m in revenue and a handle of $29.8m.

Hollywood Lawrenceburg and PointsBet was the only other operating partnership to see revenue surpass $1.0m, with the partners posting $2.0m in revenue and a $26.1m handle in May.