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Indiana sportsbook market returns to growth in May


Sportsbook stakes in Indiana rose 41.9% month-on-month in May, as players shifted to betting on sports beyond the US major leagues. 

The latest figures from the Indiana Gaming Commission reveal amounts wagered rose to $37.0m, of which $30.5m was wagered on sports outside football, basketball and baseball. While the regulator did not break down this figure any further, it suggests bettors have shifted to sports such as soccer or table tennis and mixed martial arts, which proved popular in Oregon in May. 

Of the major sports, baseball saw the biggest month-on-month improvement, with stakes jumping from $4,981 in April to $959,023 in the month when the Korean Baseball Championship returned. Football’s total dropped 66.8% to $437,753, while basketball stakes declined marginally to $9,908, and parlay bets grew to $5.1m.

After player winnings and adjustments, taxable revenue for May more than doubled to $3.2m.

Looking at the market broken down by operator, DraftKings, via Penn National Gaming’s Ameristar Casino, continued to lead the way. Players wagered $20.1m via the DraftKings app, up 47.5% from April, with revenue for the property amounting to $1.8m after adjustments. 

This set it ahead of FanDuel, partnered with Blue Chip Casino, on stakes of $12.3m, up 26.3%. After winnings and adjustments, revenue for the property came in at $1.1m, meaning FanDuel and DraftKings collectively accounted for 86.8% of all stakes, and 90.9% of revenue in May.

Just two other licensees posted revenue for the month. Three of the state’s mobile apps – Caesars (Horseshoe Hammond); PointsBet (Hollywood Lawrenceburg); and BetAmerica (Rising Star Casino) – and took bets over the month, but saw gross win wiped out by adjustments.

Aside from DraftKings and FanDuel, French Lick Resort, with Rush Street’s BetRivers powering its mobile offering, took stakes totalling $2.4m, and revenue of $175,591, putting it in third place. 

It was followed by Belterra Casino and its BetMGM-branded sportsbook, through which customers wagered $1.5m, resulting in revenue of $114,210.

Indiana’s casinos, having been closed since mid-March reported no revenue for the month. However, it looks likely that venues will be able to reopen next week from June 15, provided Governor Eric Holcomb green lights the move. 

Casinos will have occupancy limited, with patrons and staff required to wear masks and undergo a temperature check before entering the properties.