Kentucky's New Sports Betting Market is Impacting Indiana
We have all the latest betting news pertaining to the Wildcats and Cardinals as well as updates related to the state gambling sector.
Kentucky's New Sports Betting Market is Impacting Indiana
LOUISVILLE, KY (Gambling911.com) - Steve Bittenbender, a gaming analyst who specializes in the Kentucky gambling market, noted this week how Kentucky's first full month of sports betting is now impacting neighboring Indiana, a state that has regulated the activity for nearly five years now.
"Indiana released its October gaming totals earlier this morning, and for sports betting, it announced a handle of $429.7M.
October was the first full month for KY sports betting and you can see some impact.
"Indiana's sports betting handle for Oct. 2022 was $446.2M (Oct. 21 was $461.1M). IGC officials said earlier this year Ohio was causing a 15% impact on sports betting handle. Kentucky's impact looks to be smaller, but there's definitely is one when you look at retail data."
There are Indiana 5 retail sportsbooks near Kentucky. 4 of them saw big Y2Y drops in October sports betting handle.
Winner's Circle Clarksville
10/22 - $3.8M
10/23 - $1.6M
Caesars Southern Indiana
10/22 - $3.7M
10/23 - $838K
Belterra
10/22 - $826.6K
10/23 - $245.5K
The biggest impact on Indy's sports betting market is still Ohio, as noted by Bittenbender.
"Hollywood Lawrenceburg saw the largest sports betting decrease, but this is also the one closest to Cincy, so most of its dropoff is due to Ohio legalization, not Kentucky."
10/22 - $11.9M
10/23 - $1.7M
Only Bally's Evansville saw a handle increase
10/22 - $1.4M
10/23 - $1.6M
- Updated November 15, 2023 9:14 pm
Red Hot Louisville Takes on Miami
LOUISVILLE, KY (Gambling911.com) - The Louisville Cardinals are one of the best teams in college football right now. They broke into the Top 10 for the first time since 2016. Louisville is 9-1 Straight Up coming into this weekend's game against the Hurricanes. They are 5-4 Against The Spread. Miami is 6-4 and won their last two games against Louisville in 2020 and 2019. This is a better Cardinals team than that where they were a +2.5 home dog and +6.5 road dog (2019). They opened as a -2 favorite but the line shifted to +1.5 by Wednesday night.
The Cards moved up two spots this week, ranked No. 9 when the new AP Top 25 Poll came out Sunday afternoon.
The Cardinals is still a consensus pick among projectors to reach a New Year's Six bowl.
The Cardinals will officially learn their postseason draw on Sunday, Dec. 3, following the end of conference championship weekend.
- Updated November 15, 2023 9:29 pm
- Mary Montgomery, Gambling911.com
