Indiana Among US Strongest Sports Betting Markets
Retail sports betting venues were beginning to see new life and helped the state of Indiana realize a 7.6% increase in handle during May.
Handle rose from $236.4 million in May 2020 to $254.4 million, still nowhere near the $316.7 million handle recorded in March.
But March featured a ton of NCAA Men's Basketball tournament games.
“Even with the expected slowdown over the last two months, no Midwestern state has held its ground better than Indiana,” said Nicole Russo, analyst for PlayIndiana.
“Some of that can be attributed to local events driving interest, including the Indy 500. But the market’s structural advantages that were built in before sports betting launched is also paying dividends.”
DraftKings held the lead, but just barely, with $81.8m in online bets and yielding $2.9 million in gross receipts. FanDuel followed with $79.3 m in online bets and topped the market with $7.6m in gross receipts.
Michigan May Sports Betting Handle The Worst Since Launch
The total Michigan sports betting handle hit $257.7 million in May. That represents the lowest total handle for a full month since online betting launched mid-January. There was a decline of 6% from $274.2 million in bets in April. Michigan did not see the rise in business witnessed in Indiana.
May’s handle is down 32.8% from the $383.7 million bet in March. Neither the Red Wings in the NHL or Pistons in the NBA have made this year's Playoffs.
Michigan sporrts betting should see a huge boost come September with the start of the college football and NFL seasons.
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Iowa
The state handle was down just 2.9% compared to April, with $114.9 million in bets.
William Hill, with six casino partners, led the way with $37.5 million in bets taken. DraftKings came in at $33.8 million. FanDuel took in $27.6 million.
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PointsBet: $2.9 million
Elite: $2.6 million
theScore: $1.0 million (partner casino Ameristar led retail handle with $4.6 million)
Hard Rock: $615,311
Betfred: $530,671
Q Sportsbook: $315,245
- Gilbert Horowitz, Gambling911.com
