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Indiana sportsbook revenue and handle recover strongly in July


The Indiana Gaming Commission has reported the strongest month for the state’s sports betting market since February, with revenue and handle both soaring in July. 

July marked the first full month in which the state’s casinos were open following the novel coronavirus (Covid-19) shut-down, which saw venues closed from March 16, and not reopened until June 15. 

Amounts wagered more than doubled month-over-month to $70.9m, though online remained by far the biggest contributor to stakes growth despite a rising contribution from retail. 

The month also saw contributions for the US major league sports grow strongly, with football stakes climbing to $1.2m. The biggest growth, however, was seen in baseball betting, with stakes jumping from $2.0m in June to $14.5m, following the return of Major League Baseball on July 23. 

Basketball stakes also grew strongly, rising from June’s $618,166 to $5.8m ahead of the National Basketball Association’s return on July 30. 

However betting on sports outside the major US leagues remained most popular, accounting for $33.4m of stakes, up 63.5% month-on-month. 

After player winnings and adjustments, revenue for the month came to $6.7m, a 127.9% improvement on June’s $2.9m total. 

The market, in terms of stakes and revenue, was dominated by DraftKings and FanDuel. DraftKings, allied with Penn National Gaming’s Ameristar Casino, accounted for $34.0m of stakes across all channels, and revenue of $3.1m, setting it apart from its Flutter Entertainment owned competitor. 

FanDuel, and its partner Blue Chip Casino attracted stakes of $24.5m, and revenue of $2.5m. Of this total, $24.2m was generated online, with $246,397 wagered in the property’s retail sportsbook. 

With handle of $1.2m, Ameristar Casino’s retail offering fared slightly better, and was one of just two properties to generate more than $1m in stakes in July.

The other property to do so was another Penn National venue, Hollywood Lawrenceburg, with total stakes of $3.8m, from which it generated revenue of $456,754. Of this total, $2.7m was staked over the counter, with its sportsbook licensing partner PointsBet accounting for wagers worth $1.1m. 

Belterra Casino, under whose license the GVC-MGM Resorts BetMGM joint venture operates, followed in fourth with handle of $3.6m, and revenue of $410,872.