The Indiana Gaming Commission has reported July 2023 handle of $203.8 million, the lowest since the introduction of legalized IN mobile sports wagering in November 2022.
How did IN handle break down?
The combined retail and mobile handle was 1.4% lower year-over-year, down from $206.6 million in July 2022. Month-over-month, recorded handle was down 9.1% from $224.1 million in June.
Of the total handle taken, $10.6 million was taken at the state’s 11 retail locations and the three off-track betting spots associated with Indiana’s racetracks. 94.8% of wagers were taken through mobile sports betting platforms, with the remaining 5.2% at retail locations across the state.
Total taxable adjusted gross revenue was up year-over-year 11.5%, reaching $23.3 million. This figure is also up 19.5% month-over-month from June 2023’s $19.5 million. Total sports wagering tax paid for the month of July 2023 was $2.2 million.
What was handle by sport?
All of the most dominant US sports from a betting perspective are currently in off-season, hence the overall country-wide sports betting handle slump.
The Indiana Gaming Commission has reported handle breakdown by sport for the month of July 2023. The results are as follows:
- Football: $2.4 million
- Basketball: $12.6 million
- Baseball: $69.4 million
- Parlay: $56.2 million
- Other: $62.9 million
Baseball was the largest of the sports, although betting on ‘other’ sporting events and parlays constituted 59% of total wagering for July 2023.
Indiana online casino was one of the favorites for legalization amongst analysts for 2022, but never materialized. Most recently, Rep. Gutwein and Rep. Manning introduced HB 1356 seeking online casino legalization with a tax rate of 18%. It didn’t garner the popularity needed, but Indiana still remains a front-runner for iGaming legalization. Given the friction around New York online casino and astute failure to legalize California sports betting, commercial operators are hoping smaller states such as Indiana can provide the key to wider legalization.