/** * dev demo deploy */ //dev demo or none if (!defined('TD_DEPLOY_MODE')) { define("TD_DEPLOY_MODE", 'deploy'); } do_action( 'tdc_header' ); if ( has_action( 'tdc_header' ) ) { return; } ?>

Indiana Sportsbook January Handle Down, AGR Up from Year Ago

Must read

[ad_1]

Posted on: February 13, 2023, 09:24h. 

Last updated on: February 13, 2023, 09:24h.

Indiana’s sportsbooks saw their betting traffic decrease substantially in January, the first month for legal sports betting in neighboring Ohio. However, it wasn’t all bad news for Hoosier operators.

Barstool Sportsbook
On January 1, the Heritage Bank Center in Downtown Cincinnati features an advertisement for the Barstool Sportsbook at Hollywood Casino in Lawrenceburg, Ind. With sports betting now legal in Ohio, Indiana sportsbooks reported a drop in handle last month, but compared to January 2022, the sportsbooks saw their revenues increase. (Image: Casino.org)

The retail sportsbooks and online wagering apps reported a handle of $427.2 million and adjusted gross revenues (AGR) of $36.5 million for the first month of 2023.

The January handle was down about 1% from the December handle of $431.4 million, and revenues fell by 14.5% from the $42.7 million the operators collected that month.

However, compared to January 2022, last month’s handle fell by more than 14% from the all-time monthly record handle of $500.1 million the state produced a year ago. Despite that larger handle, though, Indiana’s sportsbooks saw revenues increase by almost $886,000 last month.

Indiana taxes AGR at 9.5%, meaning the state received $3.4 million in revenue last month.

Retail Sportsbooks Near Cincy Take Hit

With sports betting legal in Ohio as of January 1, it meant that several operators in Indiana would likely lose a good chunk of their business. That’s especially true for retail sportsbooks in the southeast corner of the state, the closest region to the Cincinnati market.

Besides 16 mobile apps and hundreds of sports betting kiosks at lottery retailers in Ohio, there are four retail sportsbooks available in Cincinnati as well as ones at Miami Valley Racing and Gaming and Hollywood Gaming at Dayton Raceway. All of those will likely serve customers who were previously traveling to Indiana to make their bets.

And Indiana retail sportsbooks in the region did see big drops. Hollywood Lawrenceburg, which is located about a mile away from the Ohio state line, reported a handle of $6.5 million last month. That’s compared to a handle of $13.6 million in December 2022 and $13.2 million in January 2022.

Belterra Casino in Florence, located about an hour south of Cincinnati, had a handle of $492,111 last month. That was down from $649,717 in December and $725,092 in January 2022.

Horseshoe Indianapolis in Shelbyville, located about an hour northeast of Cincinnati, reported a handle of $862,292 last month. That was down from the $1.2 million in bets it took in December and the $1.1 million it took a year ago.

Not all operators saw their handles take a hit. FanDuel and DraftKings, the two largest players in Indiana, saw their betting traffic increase slightly from December. FanDuel’s January handle of $142.3 million was up from the $137.8 million it accepted in December, while DraftKings went from $134.8 million in December to $139.6 last year.

Parlaying Success in Indiana

So, if Indiana’s sportsbooks took less money in wagers, what might explain why last month was more profitable than a year ago? The answer to that question is likely an increase in parlay wagers.

US sportsbooks have placed greater emphasis on parlay wagers, or bets that include multiple legs. Those bets typically offer more lucrative odds, but they require the bettor to not miss on any leg. As a result, sportsbooks tend to win a higher percentage of parlay bets compared to single wagers.

Indiana does not break down sportsbook revenue by wager types, but it does break down unaudited handle by bets placed on football, basketball, baseball, other sports, and parlays. Last month, nearly 30% of all money wagered in Indiana sportsbooks, $124.7 million, was bet on parlays. In December, that share was 27.6%, or $119 million, and in January 2022, the $122.6 million wagered on parlays equaled less than a quarter of the money wagered in the state.

So, as long as bettors continue betting more on parlays, Indiana will likely not see tax revenues suffer even as sports betting handles continue to drop.

[ad_2]

Source link

More articles

Latest article

Ibu Sumarni Penjual Kue Di Lohbener Menang Mahjong Ways 2 Pak Rusman Karyawan Pasar Juntinyuat Dapat Hoki Digital Ibu Hamidah Pkl Bangodua Pulang Bawa Rp178 Juta Dari Mahjong Mahasiswa Kroya Menang Mahjong Ways 2 Saat Belajar Malam Ibu Ratna Penjual Beras Di Jatibarang Dapat Rp200 Juta Mahjong Pak Tarjo Petani Pasekan Dapat Kejutan Multiplier Mahjong Ibu Sumiati Penjaga Kantin Balongan Dapat Hoki Mahjong Ways Pak Darto Petani Sliyeg Bisa Beli Motor Karena Mahjong Ibu Nuraini Warga Kertasemaya Tembus Jp Dini Hari Mahjong Anak Kosan Di Lohbener Main Jam 03 27 Dan Menang Mahjong Warga Karawang Berhasil Wd Rp25 Juta Setelah Main Mahjong Ways Main Mahjong Ways Ibu Rumah Tangga Di Medan Bisa Wd Tiap Hari Pemuda Bekasi Tembus Wd Mahjong Ways Usai Coba Spin Tengah Malam Mahasiswa Jogja Tak Sangka Bisa Wd Dari Mahjong Ways Modal Receh Petani Subang Bisa Renovasi Rumah Setelah Wd Dari Mahjong Ways Pekerja Pabrik Tangerang Wd Rp30 Juta Dari Mahjong Ways Lewat Hp Jadul Main Mahjong Ways Sebentar Remaja Depok Langsung Wd Ke Rekening Guru Sd Di Solo Wd Mahjong Ways Setelah Daftar Dan Spin Pertama Ibu Warung Bandung Viral Usai Berhasil Wd Mahjong Ways Berkali Kali Nelayan Makassar Tak Menyangka Mahjong Ways Bikin Bisa Wd Setiap Minggu Ibu Sumarni Jual Kue Lohbener Menang Mahjong Ways 2 Subuh Pak Rusdi Pasar Juntinyuat Dapat Hoki Digital Mahjong Ibu Hamidah Bangodua Bawa Pulang Rp178 Juta Dari Mahjong Mahasiswa Kroya Menang Mahjong Ways 2 Sambil Belajar Ibu Ratna Jual Beras Jatibarang Menang Rp200 Juta Mahjong Pak Tarjo Petani Pasekan Auto Jp Karena Mahjong Ways 2 Ibu Sumiati Penjaga Kantin Balongan Dapat Hoki Mahjong Pak Darto Sliyeg Bisa Beli Motor Dari Mahjong Ways 2 Ibu Nuraini Kertasemaya Menang Dini Hari Dari Mahjong Anak Warnet Lohbener Tembus Mahjong Ways 2 Jam Ganjil Nenek Penjual Daun Pisang Di Garut Sujud Syukur Saat Mahjong Ways 2 Muncul Beruntun Pemuda Kasir Indomaret Di Batang Terpaku Lihat Perputaran Mahjong Ways 2 Di Pagi Butaw Penyortir Kardus Di Margonda Gemetar Saat Kombo Mahjong Ways 2 Tak Berhenti Wanita Pembuat Lilin Di Karanganyar Temukan Keajaiban Di Mahjong Ways 2 Siswa Homeschooling Di Cibinong Diam Membisu Saat Mahjong Ways 2 Berulang Sendiri Pak Leha Sopir Keliling Di Banjarnegara Bergetar Lihat Alur Mahjong Ways 2 Sore Itu Gadis Penyulam Di Kampung Bambu Bicara Pelan Saat Mahjong Ways 2 Bawa Harapan Tukang Tambal Ban Di Tegal Langsung Istighfar Lihat Pattern Mahjong Ways 2 Buruh Pengupas Kulit Jengkol Di Ciamis Tiba Tiba Diam Saat Mahjong Ways 2 Menang Pemuda Pengantar Tempe Di Pasar Rejowinangun Tertegun Karena Mahjong Ways 2 Bocoran Rahasia Mahjong Ways Jentoto Hari Ini Yang Bikin Auto Menang Pola Main Mahjong Ways Jentoto Terbaru 2025 Dibongkar Para Pemenang Trik Jitu Main Mahjong Ways Di Jentoto Viral Di Komunitas Game Cuan Tips Dari Pemain Veteran Untuk Mahjong Ways Jentoto Yang Viral Banget Bocoran Polanya Sudah Terbukti Mahjong Ways Jentoto Banjir Cuan Hari Ini Ternyata Ini Trik Mahjong Ways Jentoto Yang Sering Dipakai Para Pro Player Pola Rahasia Mahjong Ways 2025 Di Jentoto Sudah Diuji Ratusan Orang Tips Dan Trik Terbaru Main Mahjong Ways Di Jentoto Agar Meledak Cuan Viral Pola Bermain Mahjong Ways Jentoto Hari Ini Banyak Yang Berhasil Bocoran Mahjong Ways Jentoto 2025 Bikin Heboh Komunitas Game Online Rahasia Terbesar Menang Mahjong Ways Di Suletoto2 Yang Jarang Orang Tahu Pengalaman Pemain Dapat Hadiah Besar Dari Mahjong Ways Di Suletoto2 Cara Main Mahjong Ways Di Suletoto2 Agar Setiap Spin Bisa Dapat Bonus Kenapa Mahjong Ways Di Suletoto2 Sering Bagi Hadiah Lebih Banyak Dari Biasanya Fakta Viral Mahjong Ways Suletoto2 Bikin Netizen Heboh Karena Cuan Tiap Hari Panduan Lengkap Main Mahjong Ways Di Suletoto2 Untuk Pemula Sampai Pro Alasan Utama Kenapa Mahjong Ways Di Suletoto2 Lagi Ramai Dibicarakan Netizen Mahjong Ways Di Suletoto2 Bisa Jadi Game Paling Untung Tahun Ini Strategi Main Mahjong Ways Suletoto2 Yang Bisa Naikin Chance Menang Maksimal Mahjong Ways Di Suletoto2 Jadi Viral Karena Banyak Pemain Dapat Hadiah Besar Bocoran Pola Mahjong Ways Kaisar800 Hari Ini Dijamin Tembus Auto Jackpot Trik Main Mahjong Ways Di Kaisar800 Versi Player Pro Dengan Winrate Tertinggi Tips Rahasia Mahjong Ways Kaisar800 Agar Tetap Cuan Meski Modal Tipis Update Pola Gacor Mahjong Ways Kaisar800 Hari Ini Bocoran Tiket Hoki Terbaru Trik Dan Strategi Mahjong Ways Kaisar800 Agar Tidak Zonk Di Pola Terbaru Pola Terkuat Mahjong Ways Kaisar800 2025 Dengan Trik Kombinasi Auto Untung Bocoran Jalur Menang Mahjong Ways Kaisar800 Hari Ini Dari Komunitas Rahasia Cara Main Mahjong Ways Di Kaisar800 Dengan Polanya Yang Lagi Trending Trik Baru Mahjong Ways Kaisar800 Yang Viral Di Tiktok Dan Terbukti Cuan Tips Pola Main Mahjong Ways Kaisar800 Agar Hoki Stabil Tiap Hari Warga Lokal Main Mahjong Ways Suletoto2 Viral Banyak Pemain Auto Cuan Menang Bermain Game Mahjong Ways Suletoto2 Banjir Hadiah Panen Uang Ibu Sumantri Main Mahjong Ways Di Suletoto2 Raup Puluhan Juta Buk Ade Jadi Okb Main Mahjong Ways Suletoto2 Mesin Cuan Viral 2025 Warga Bekasi Senang Bermain Mahjong Ways Suletoto2 Kasih Jackpot Ratusan Juta Warganet Gempar Viral Mahjong Ways Suletoto2 Pemula Menang Besar Kini Warga Lokal Beramai Ramai Bertanya Kenapa Mahjong Ways Di Suletoto2 Viral Buk Ongki Main Mahjong Ways Suletoto2 Modal Receh Cuan Gede Artis Banjarmasin Main Slot Mahjong Ways Suletoto2 Favorit Maxwin Kesukaan Mak Jonimahjong Ways Suletoto2 Dihujani Testimoni Menang Wanita Penjahit Larut Malam Di Majalengka Tersentuh Saat Mahjong Ways Beri Berkah Pemuda Pemotong Ikan Di Tpi Pamekasan Mendadak Terdiam Lihat Mahjong Ways Menang Nenek Pembuat Anyaman Di Lampung Kaget Lihat Kombinasi Mahjong Ways Detik Itu Ibu Penjual Pecel Di Ponorogo Bergetar Saat Garis Mahjong Ways Mengisi Penuh Penarik Gerobak Di Kalideres Senang Bukan Main Saat Polanya Kena Di Mahjong Ways Laki Laki Pembuat Kerupuk Di Kampung Cidahu Melongo Saat Mahjong Ways Meledak Penjual Tahu Di Brebes Lihat Layar Hp Lalu Sujud Karena Mahjong Ways Beruntun Tukang Potong Rambut Keliling Di Indramayu Diam Seribu Bahasa Karena Mahjong Ways Ibu Muda Pengupas Bawang Di Demak Berkata Pelan Saat Mahjong Ways Muncul Tiba Tiba Remaja Penjaga Rental Di Temanggung Peluk Temannya Usai Combo Mahjong Ways Penuh