What Pandemic? Indiana’s $169M August Handle Returns State To ‘Normal’ Levels

Indiana’s sports betting handle has finally returned to normal.

In August, Hoosiers bet $169 million on sports, setting the state’s highest record since February when $187 million was wagered.

The $70 million handle that July brought in was more than doubled by the numbers from August.

Despite the significant increases, the substantial handle is not unexpected. Given that sports have fully resumed for the first time in several months, an enhanced betting handle and a surge in Indiana’s sports betting revenue were virtually certain.

In August, the handle amounted to almost $10 million in adjusted gross revenue, and more than $900,000 in tax revenue for the state.

Sports betting handle of Indiana in August 2020

This is a detailed analysis of the Hoosier State’s handle for August 2020:

Licensee	Online Brand(s)	Total Handle	Online Handle	Retail Handle	Gross Revenue	State Tax
Ameristar East Chicago	DraftKings	$78,646,658	$73,701,146	$4,945,512	$5,819,958	$465,125
Blue Chip	FanDuel	$50,751,375	$50,057,516	$693,859	$3,642,451	$216,175
Hollywood Lawrenceburg	PointsBet	$11,720,382	$4,783,206	$6,937,176	$1,128,945	$107,298
Belterra	BetMGM	$9,903,467	$9,387,161	$516,306	$743,872	$70,678
French Lick	BetRivers	$5,107,678	$5,005,798	$101,880	$343,847	$32,023
Horseshoe Hammond	Caesars | Unibet	$3,589,353	$902,247	$2,687,106	$248,916	$0
Harrah’s Hoosier Park		$3,500,365	$0	$3,500,365	$282,683	$26,073
Indiana Grand		$2,577,860	$0	$2,577,860	$293,988	$16,941
Caesars Southern Indiana		$1,590,272	$0	$1,590,272	-$6,409	$0
Tropicana Evansville		$1,517,254	$0	$1,517,254	$94,407	$0
Rising Star	BetAmerica	$113,574	$63,494	$50,079	$9,161	$0
Total		$169,018,238	$143,900,568	$25,117,669	$12,601,820	$934,314

Basketball popularity soars

NBA betting surged during the NBA Playoffs that spanned the whole month. In Indiana, basketball was the most bet on sport throughout August.

During the month, Hoosiers wagered $55 million on basketball, significantly more than the $35 million bet in July.

This year, the Indiana Pacers participated in the postseason, which probably contributed to an even higher increase in numbers.

Parlays, with a $43 million haul, were the second most popular betting category, while the “other” category secured the last spot on the podium with its $36 million handle.

The state’s monthly revenue report includes a separate category for all items not classified as football, basketball, baseball, or a parlay.

Given that hockey is considered an “other” sport in Indiana, it probably made the largest contribution to the category’s massive figures in August.

The category definitely got an extra boost with the NHL Playoffs running throughout the entire month.

BetMGM, PointsBet gaining ground

Just weeks before the COVID-19 shutdowns began, PointsBet and BetMGM were both launched in Indiana.

Neither sportsbook had a fair chance to establish itself with no sports to bet on. However, this is beginning to change.

In July, BetMGM finally dethroned BetRivers from its long-standing position as the state’s third most popular sportsbook. The handle of BetMGM was approximately $800,000 higher.

In August, the disparity between the two significantly widened. BetMGM received over $9 million in bets, in contrast to the $5 million received by BetRivers.

In Indiana, BetMGM now accepts more bets than Caesars, Unibet, BetRivers, and BetAmerica combined.

While BetRivers is grappling with expanding its market share, PointsBet continues to make progress.

PointsBet’s revenue was roughly $200,000 less than BetRivers’ earnings last month. If this trend continues, PointsBet is set to push Rush Street Interactive’s sportsbook down to the fifth position by next month.

Nonetheless, achieving that growth hasn’t been easy.

PointsBet has been aggressively marketing in Indiana.

Through promotions such as its Indiana Crowd Boosters, it successfully draws in numerous new customers. However, as these promotions provide significant benefits to gamblers, maintaining them on a biweekly basis can be quite costly.

The saying goes, “you have to spend money to make money,” and so far, that appears to be proving true for PointsBet.

Anticipate a significant increase in Indiana’s sports betting handle in September.

Right now, sports betting is in a unique, once-in-a-lifetime situation.

For the first time in history, the following leagues all played games on the same day, Sept. 10:

• NFL
• NBA
• WNBA
• MLB
• MLS
• NHL

The NBA and MLB seasons were delayed for several months due to the coronavirus, making that situation possible.

Given that pandemics do not occur annually, it might take decades for sports enthusiasts to witness this kind of overlap once more.

Indiana’s biggest sports betting handle ever could easily be achieved in September. The current record is held by February 2020’s $187 million mark.

The whole thing will hinge on football.

Being the most popular betting sport in the US, it’s set to dominate in terms of betting handle.

In August, Hoosiers only placed bets amounting to $700,000 on football. However, this is expected to change in September with the arrival of the NFL season.

This month’s numbers will not be confirmed until Oct. 9, when the gaming commission intends to release them.

However, if August is an indicator of future trends, Hoosiers are ready to gamble after a few months of major sports absence.

Gamblers certainly have an abundance of high-quality options to choose from, including the NBA Playoffs, NHL Playoffs, MLB season, and the beginning of the NFL calendar.