August 15, 2022 3 min read

Sports Betting Handle in Indiana Hits $206.6M in July

The Indiana Gambling Commission, the gambling regulator in the state, has announced the financial results posted by sports betting operators for July.

Sportsbooks in Indiana Report $206.6M in Betting Handle

Judging by the recent results, last month was the worst month in the year so far, when it comes to betting handle. Overall, the operators reported $206.6 million in betting handle, marking the lowest recorded betting handle for this year. Back in June, the sports wagering handle reported by operators in Indiana hit $256.3 million. When compared, the two results reveal that in July, the sports betting handle decreased by nearly 20%.

Despite the decrease in betting handle, taxable adjusted gross revenue (AGR) last month increased when compared to June. In total, the taxable AGR in July was $20.9 million, up 32% when compared to the taxable AGR of $15.8 million reported a month prior. It’s no surprise that with taxable AGR increasing, so did the taxes collected by the state’s coffers. In June this year, taxes collected hit $1.5 million, while last month, the taxes increased to nearly $2 million.

A breakdown provided by the Indiana Gaming Commission reveals that baseball was the most popular sport to wager in July. Sports bettors wagered a total of $76.1 million on baseball. Parlay bets were responsible for $53.5 million in betting handle, while $16.1 million and $2.9 million were reported for basketball and football respectively. The betting handle for “other” sports was $56.8 million.

Year-Over-Year Comparison Marks an Increase in Wagering Handle

Although the sports wagering handle last month was the worst for the year so far, a year-over-year comparison reveals that the result wasn’t that bad. In fact, when compared to July last year, the betting handle this year increased. Last year in July, licensed sportsbooks reported $194.5 million in betting handle. When compared to the $206.6 million reported this year, an increase of 6.2% is observed.

A year-over-year comparison for taxable AGR also marked another increase. Back in July 2021, the taxable AGR was $17.5 million. When compared to the result from this year, an increase of nearly 20% is observed. A similar increase was observed when comparing taxes paid by operators for last month. While this July, taxes hit $1,984,399, for the same period in 2021, only $1,658,052 was collected.

According to the recent report by the regulator, Blue Chip Casino reported the highest betting handle last month. In total, the venue reported $61.7 million in betting handle, while Ameristar Casino came in second with $61.3 million in betting handle for July. Belterra Casino reported $26.3 million in betting handle, marking the third-highest handle for last month.

Journalist

Jerome is a welcome new addition to the Gambling News team, bringing years of journalistic experience within the iGaming sector. His interest in the industry begun after he graduated from college where he played in regular local poker tournaments which eventually lead to exposure towards the growing popularity of online poker and casino rooms. Jerome now puts all the knowledge he's accrued to fuel his passion for journalism, providing our team with the latest scoops online.

Leave a Reply

Your email address will not be published.