Women’s Sports Betting Continues to Grow
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Bettors found their action in the month of June, trying to bundle bets for high payouts. There was $82 million gambled on parlays as the largest of the five categories the IGC publishes information for in its monthly reports. FanDuel led the way with $8.4 million in revenue and a 12.1% hold on a handle of $69.4 million. However, DraftKings won the handling gold for June, surpassing FanDuel, as DK took wagers totaling $87.8 million. While it was the second state after New York where DraftKings dethroned FanDuel as the leader in June, Indiana’s 6.6 percent win rate left DraftKings far behind FanDuel in terms of revenue with a total of $5.8 million.
With a final result of $1.9 million on a $20.3 million handle for a 9.4 percent hold, BetMGM was the only other mobile operator to surpass seven figures in revenue for June. The final book with at least $10 million in handle was Caesars Sportsbook, but with a meager 4.8 percent win rate on $15.7 million wagered, it only generated a return of little over $750,000.
Barstool Sportsbook recorded its first monthly loss in Indiana as punters won $103,000 on wagers totaling $4.4 million. The Hoosier State’s PENN Entertainment-powered sportsbook opened its doors in May 2021, but the handle for June was the lowest it had seen in the 26 months since it began taking bets. Barstool wasn’t the only company to receive a “L” for June; Betway also lost $2,361 from a $196,000 handle.
Overall, the handle for Indiana online sportsbooks was down 12.6% from the previous year, but income increased by 23.4% as this year’s win rate was more than 2.5 percentage points higher. Although the handle is 11.5 percent lower than the $2.3 billion wagered in the first half of 2022, Indiana did surpass $2 billion in handle for the 2023 calendar year. However, the far greater 9.3 percent hold so far this year has helped to boost operator revenue by 18.6 percent to $189.6 million.
Indiana became the ninth state in the post-PASPA era to reach $100 million in total sports wagering taxes, the state received $1.8 million in tax income for the month. The Hoosier State joined Nevada as the only states among the nine to achieve the milestone with a rate on all wagering revenue below 10%. Indiana taxes adjusted gross revenue at 9.5 percent.
Keep in mind that there are special daily offers to check out. Upcoming action includes tennis, golf, boxing, auto racing, and MMA action are open. Major League Baseball offers daily action with new rules that have increased interest. Meanwhile, you can get futures on college and pro football. NFL preseason football is coming, and the Canadian Football League season is on fire. And the Super Bowl of Cycling, the Tour de France, is running now through July 23. It’s all underway and coming in hot, with action available now. This is the best time of year for sports betting activity in overdrive. There are daily specials for each day of the week, which is not to be missed. Go to BetRivers for these daily offers!
Caesars Southern Indiana, which had a strong 23 percent hold and generated $213,000 in sales, was the most profitable brick-and-mortar establishment. The casino at the other end of the spectrum, Blue Chip Casino, earned $1,504 from $386,000 worth of bets for a win percentage of 0.4 percent.
