Indiana’s sports betting industry showed resilience and growth in August, as the state reported a significant 9.9% year-on-year increase in its sports betting handle. With a total handle of $238 million, a 14.1% rise from July, the monthly figures ended a four-month streak of decreasing handles. Additionally, DraftKings emerged as the top performer in terms of bets for the first time since February, surpassing FanDuel. The most popular sport for betting in August was baseball, while football witnessed a substantial surge with the preseason’s commencement, attracting $17.6 million in bets. Moreover, Hard Rock Digital’s recent expansion to Indiana and Tennessee signifies the brand’s commitment to delivering an exceptional and entertaining mobile sports betting experience to players in these states.
Indiana’s Resilient Sports Betting Industry:
Indiana’s sports betting handle for August amounted to $238 million, marking a remarkable 9.9% year-on-year increase and a substantial 14.1% rise from July. The state’s thriving sports betting market showcased its resilience and ability to attract betting activity.
Taxable Revenue and State Tax Contributions:
Retail and online bookmakers in Indiana generated $25.4 million in taxable revenue for August, contributing to the state’s coffers with $2.4 million in taxes, thanks to Indiana’s tax rate of 9.5%. The robust revenue figures demonstrate the positive impact of sports betting on the state’s economy.
DraftKings Leads in Bets:
For the first time since February, DraftKings topped the charts in terms of bets, generating an impressive $71.7 million handle. FanDuel followed closely with $69.6 million. BetMGM ranked third with $28.6 million, followed by Caesars with $19.8 million. Barstool Sportsbook, BetRivers, and Unibet rounded out the list of operators with over $5 million in bets.
Baseball and Football Dominate Betting Activity:
Baseball emerged as the most popular sport for betting in August, attracting a total of $77.6 million in bets. However, the biggest gainer was football, with a substantial increase in bets due to the preseason’s commencement. Football pulled in $17.6 million, a 23.5% surge from August 2021 and approximately $15 million more than the previous month.
Hard Rock Sportsbook Expands to Indiana and Tennessee:
Hard Rock Digital recently launched its online Hard Rock Sportsbook in both Indiana and Tennessee, offering players in these states an immersive and legendary betting experience. The brand’s commitment to providing unique interactive experiences to players sets it apart in the market.
Hard Rock’s Presence in Indiana and Tennessee:
Hard Rock is already established in Indiana with its Hard Rock Casino Northern Indiana, where it recently opened a new retail sportsbook venue. In Tennessee, the online launch signifies Hard Rock’s entry into the state’s gambling market, complementing its existing three Hard Rock Cafés.
Indiana’s sports betting industry continues to thrive, as evidenced by the 9.9% year-on-year increase in the betting handle for August. The state’s ability to attract substantial betting activity showcases its strong position in the sports betting market. DraftKings’ impressive performance and the surge in football betting further contribute to the industry’s success. The recent expansion of Hard Rock Digital’s online sportsbook to Indiana and Tennessee demonstrates the brand’s commitment to delivering a top-notch and entertaining betting experience to players in these states. With a prosperous sports betting landscape and increasing revenue contributions to the state, Indiana remains an attractive and dynamic market for sports betting operators.