Indiana sports betting rebounds with $238 million in August; DraftKings takes the lead

The Indiana Gaming Commission released his August financial results. During the month, retail and online sports betting handled $238 million in wagers, a 14.1% increase from July’s $206.6 million and one 9.9% increase year over year of the August 2021 total of $215.6 million. The favorable numbers ended a four-month streak of descending monthly handles.

According to the latest report, Indiana’s retail and online bookmakers generated $25.4 million in taxable income. With Indiana’s tax rate for carriers at 9.5%, this translated to $2.4 million in taxes for the state. In the first eight months of 2022, Indiana sportsbooks accepted $2.7 billion in wagers.

Up to date, there is 13 sports bets which are partnered with state casinos, several of which launched less than a month after betting was legalized in September 2019.

For the first time since February, DraftKings at the top of the online betting rankings. The Boston-based company generated a $71.7 million in bets, against FanDuelis $69.6 million.

BetMGM was third with $28.6 million, followed by Caesar with $19.8 million. Barstool Sportsbook, BetRivers and Unibet completed the list of operators taking over $5 million under management during the month.

Baseball was again the leader, accounting for $77.6 million August tickets – an increase of $1.5 million over July and $9.3 million more than the August 2021 figure of $68.3 million.

The biggest winner was football. With the pre-season starting in August, the sport grossed $17.6 million, what’s about $15 million in bets more than in July and an increase of 23.5% from August 2021.

Last week, Hard Rock Sportsbook has announced the launch of its mobile app in Indiana and Tennessee. The product has gone live in the two states in which the Hard Rock brand currently operates a number of retail properties.

Indiana is home to the Hard Rock Casino Northern Indiana, where a Hard Rock Sportsbook retail store opened in May. Meanwhile, Tennessee has three Hard Rock Cafes (Nashville, Memphis, and Pigeon Forge) and the Bristol Casino, located just across the border from the state of Virginia.