Indiana sports betting revenue declines despite higher handle in May
| By Robert Fletcher
Revenue from sports betting in Indiana fell 5.5% month-on-month to $18.9m (£13.4m/€15.6m) in May despite the US state experiencing a 7.6% increase in its handle to $254.4m.
Year-on-year, total adjusted gross revenue (AGR) was up 490.6% from $3.2m in May 2020, but last year’s figures were severely impacted by the novel coronavirus (Covid-19) pandemic, with many sports events cancelled or postponed, thus limiting betting options.
Handle rocketed 587.6% year-on-year from $37.0m in May 2020, while this amount was also higher than the $236.4m wagered in April of this year.
Basketball proved to be the most popular sport to wager on with players betting $82.4m in May. Some $50.5m was wagered on baseball and $1.4m on football, while $62.0m was attributed to parlay betting and $51.6m other sports.
The state was able to generate a total of $1.8m in sports betting taxes during the month.