Indiana hits $8bn in sports bets placed in May

A new milestone has been reached in Indiana regarding the sports betting sector. The state Gaming Commission recently revealed the latest monthly betting reports, showing just over $308 million wagers were placed in May. This amount helps the state reach more than $8 billion wagers, with Indiana becoming the 5^th in the US to reach this milestone.

Only a few states have been able to meet the $8 billion mark when it comes to wagers placed. Also on the list are Pennsylvania, New Jersey, Nevada, and Illinois. Indiana first launched sports betting services in late 2019, so it took just over two years to reach the handle achievement.

May Sports Betting Totals

The totals also revealed that Indiana sports betting operators generated just over $30 million in revenues after a win rate of just under 10%. The month of May was 7% better revenue-wise when compared to April, but the handle fell short from month to month by over 14%.

Reviewing May 2021 totals, the state was able to see a nice increase of more than 43% when it comes to the bets placed. Revenues were up 29.3% even though the win rate was down. The top operator for the month was FanDuel with over $12 million in earnings and more than $91 million in wagers placed.

DraftKings came in second with $84.1 million bets and a revenue total of over $7.1 million. BetMGM coveted the third spot, generating over $40 million in eagers and $4.4 million in earnings. Caesars came in at number four, with a $30.4 million handle and $1.9 million in revenues.

Retail Provider Details

While online betting reigns supreme, players are visiting retail outlets too. The top operator in the retail sector for May was Hollywood Casino, generating over $7 million in bets. Revenues came in at $885,512. Ameristar and the Horseshoe Hammond work together, bringing in just under $1 million in earnings with more than $5 million in bets placed.

Hard Rock just launched services in the state’s retail sector, with the casino generating a solid $440,000 for its first month in bets. Revenues came in at over $69,000. Rising Star Casino is low on the totem pole but still fared well. The casino has under $70,000 in bets with a win of $9,910.

Regarding sports betting handle post-PASPA, Indiana sits at the 5th spot, just behind Illinois and Pennsylvania, which have generated $12.26bn and $14.32bn respectively. Nevada and New Jersey take the number two and top spot with well over $24bn and $27bn each. It will be interesting to see if Indiana remains in the 5^th position when it comes to bets placed or if they may move up as more players start to get in on the action.