The June gloom was in full effect for the Indiana sports betting community, with double-digit declines, month-over-month.
Ohio’s westerly neighbor finished June with a $256.3 million sports betting handle, which represented a 16.9% decline from May’s total of $308.385 million.
Indiana sports betting revenue dropped 48.6% month-over-month to $15.765 million in June and was down 38.1% from June 2021 ($25.464 million).
But the state’s handle represented a strong increase, year-over-year, from the $223.995 million reported in June 2021.
Indiana’s sports betting taxation dropped 48.6% month-over-month, to $1.497 million in June, and 38.1% year-over-year, from June 2021’s total of $2.419 million.
Ohio sports betting is scheduled to launch Jan. 1, 2023, providing the Indiana market with another source of competition.
The Pro Football Hall of Fame in Canton is among a handful of applicants for sports betting licenses so far.
The fact Indiana, with little more than half the overall population of Ohio (6.4 million vs. 11.5 million), has raked in north of $8 billion in sports betting handle all-time, speaks highly of Ohio’s potential market.
Indiana Sports Betting, June vs. May
Indiana Casinos Down Slightly in June
While sports betting decreased double-digits in June, Indiana’s casino community managed to only see its winnings drop 6.9%, to $197.197 million in June — down 3.8% year-over-year.
As far as taxable aggregate gaming revenue is concerned, Indiana’s casinos did about as well, with a 6.4% month-over-month decline, to $188.655 million, and a 5.1% year-over-year drop.
The top casinos, by win, in Indiana during June were Hard Rock Casino Northern Indiana ($33.103 million), Horseshow Hammond ($28.289 million), Horseshoe Indianapolis ($26.132 million), Caesars Southern Indiana ($19.566 million) and Harrah’s Hoosier Park ($18.707 million).
For the 12-month period from July 2021 to June 2022, Ohio’s seven racinos (or racetracks with slot machines) combined for $1.33 billion in revenue. June revenue was $107.65 million, down 6.3% from the $114.925 million in May.