Indiana Mobile Sportsbooks Report Heavy Hold For May

The Indiana Gaming Commission on Monday reported a sports betting handle of $283.4 million for May 2023, a year-over-year decrease of nearly $25 million. This continues an ongoing trend for the Hoosier State, as handle has dropped in comparison to 2022 each month since Ohio launched sports betting in January.

Despite the drop in handle, the operators took in about 10% more in adjusted gross revenue than in May 2022, with a haul of nearly $33.8 million, for a robust hold of 12%.

The state received over $3.2 million in taxes associated with sports betting for the month.

FanDuel holds serve

FanDuel held on to the top spot in handle for the second consecutive month, posting $96.2 million in total bets.

DraftKings ran neck-and-neck with its chief rival, bringing in $93.8 million in handle.

FanDuel also led the way in gross receipts, with $13.4 million compared to DraftKings’ $10.9 million.

The third-place finisher was BetMGM, with nearly $26 million in handle, besting Caesars Sportsbook, which reported $23.7 million. BetMGM also made $3.4 million in gross receipts compared to Caesars’ $1.9 million.

BetRivers followed at $8.4 million in handle (with $701,497 in gross receipts), with Barstool next at $6.8 million in handle and $495,326 in gross receipts.

Hard Rock did $5.2 million in handle (with a comparatively paltry $96,125 in gross receipts), followed by PointsBet with a handle of $5.1 million ($495,326 in gross receipts).

Rounding out the rest were WynnBet at nearly $2 million in handle and gross receipts of $72,833; Betway at $286,215 with gross receipts of $31,915; Bally Bet at $259,623 with gross receipts of $25,706; Unibet at $234,971 with gross receipts of $16,956; and SBK at $197,191 in handle and $15,228 in gross receipts.