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Despite an unusually full athletic calendar, sports betting traffic in Indiana fell to its lowest level in nearly a year in July, reflecting a pattern seen across the US.
In July, online and retail sportsbooks pulled in $194.5 million in wagers, down 21 percent from $246.3 million a month earlier.
In July, gross gaming income remained relatively high at $17.2 million, down 35.6 percent from $26.7 million and equalling a 8.9 percent hold. Adjusted gross revenue was $17.5 million, with $1.7 million in state taxes.
July proves lowest volume month
Indiana’s results are consistent with previous years. After adjusting for the pandemic-affected statistics in 2020, July was the lowest-volume month in both 2018 and 2019.
Jessica Welman, analyst for the PlayUSA said: “Sports betting is ultimately for entertainment, and this time of year it can take a backseat to long weekends at the lake or summer barbecues.
“With people traveling at an accelerated rate this summer, it appears that the trough is even more pronounced than usual. But July should be the low point, as bettors begin to return from their summer vacations in August and excitement builds for the upcoming football season.”
In July, bettors placed $174.6 million in online wagers, accounting for 89.8 percent of all bets placed in the state. In July, retail betting accounted for $19.9 million, down from $27.9 million in June.
With $60.2 million in wagering and $4.7 million in total receipts, DraftKings maintained its dominance in the digital industry. FanDuel came in second with $54.3 million, including a market-leading $5.3 million in total receipts.
Analysts recognised Hollywood Lawrenceburg as one of the highest-volume retail sportsbooks in the United States, with $5.9 million in wagers.
Nicole Russo, analyst for PlayIndiana said: “Retail betting is still trying to bounce back to pre-pandemic levels, and news of a fresh surge in the pandemic is the latest challenge for the industry.
“Online sportsbooks will continue to flourish in the state, but it’s apparently going to continue to be a hard road for the retail side.”
Indiana also became one of the smallest states in terms of population, second only to Nevada, to hit $4 billion in lifetime handle in July.
Since September 2019, sportsbooks in Indiana have generated $4.1 billion in online and retail wagering, including $3 billion since August 2020; $334.6 million in gross gaming income; and $31.8 million in state taxes.