July was a good month for Indiana betting revenue. In fact, it showed a nice recovery for the sports betting market.
The states casinos were finally open leading to amounts wagered more than doubling month-over-month at $70.9m. The online sector gets credit for being the biggest contributor followed by retail.
The US major league sports grew strongly. Looking at the figures, football stakes rose to $1.2m. On the top of the heap baseball betting stakes climbed $2.0m in June to $14.5m, not surprising given the return of sport.
Then there is basketball. Its contribution grew from $618,166 in June to the recent $5.,8m. It is expected to stay strong thanks to the return of the National Basketball Association.
The summer months various play winning and adjustments, cranking revenue up to $6.7m, a 127.9% improvement on the prior month’s total of $2.9m.
DraftKings and FanDuel dominated revenues. As for DraftKings (allied with Penn National Gaming’s Ameristar Casino), it brought in $34.0m of stakes across all channels, plus revenues of $3.1m.
FanDuel partners with Blue Chip Casino. It is responsible for stakes of $24.5m, and revenue of $2.5m. Online generated $24.2m and the property’s retail sportsbook took in $246,297.
It’s great to see everyone up and running. Ameristar Casino didn’t do badly with a handle of $1.2m. In fact, it raked in more than $1 million in stakes for the month, one of only two properties to do so.
The other property is Hollywood Lawrenceburg, a Penn National venue. The total stakes were $3.8m with revenue of $456,754.
Note that $2.7m was staked over the counter. Its sportsbook licensing partner, PointsBet, posted wagers of $1.1m.
In next place comes Belterra Casino at $3.6m with revenue of $410,872. The GVC-MGM Resorts BetMGM joint venture operates under its license.