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Indiana Sports Betting Revenue Down 20.1% in June
Sportsbooks in Indiana have seen a decrease in revenue last month as most major sports continued on hiatus. The state saw $29.8 million in sports wagers in June, which was down 20.1% from $37.3 million in May.
June’s $29.8 million handle was shy by $145 million of what would have been expected with a full menu of summer sports, according to PlayIndiana estimates. But with an uptick in futures betting, major sports on the near horizon, and the reopening of retail casinos and sportsbooks, the industry still inched closer to normal.
“June historically is a slow month for sports betting, but the return of major sports are huge for Indiana’s sportsbooks, obviously, and we already see the momentum with a boost in futures betting. A surge in betting should come as major sports move closer. In fact, with pent-up demand and truncated seasons that shorten the wait for a potential payout, futures betting could prove particularly enticing,” Dustin Gouker, lead analyst for PlayIndiana.com, said.
June’s handle was down 20.1% from $37.3 million in May, but up 13.3% from $26.3 million in April. The month produced $2.9 million in adjusted gross revenue, down 8.1% from $3.2 million in May, and yielded $277,601 in tax revenue for the state.
Bets on the PGA Tour, auto racing, European soccer, hockey futures, and others — classified by Indiana simply as “other” than football, basketball, and baseball — produced $20.4 million in June, down from $30.5 million in May. But bets on the three major American team sports were up significantly — to $3.3 million in June from $1.4 million in May — fueled mostly by bets on baseball, which drew more than $2 million alone.
“Sportsbooks have done an excellent job over the last few months in keeping bettors engaged with unconventional betting sports, but those sports can’t replace the loss of basketball and baseball. But the return of baseball and basketball, and local interest with the return of the Indiana Pacers and Chicago-area teams, July should bring a big step toward recovery,” Jessica Welman, analyst for PlayIndiana.com, said.
With casinos reopening, June marked the return of retail sports betting. But that produced a relatively tiny $558,970 handle from in-person wagers, the first since March. A tepid reopening of in-person betting was expected with the sports world still trying to restart, but it is still an important milestone. Hollywood Lawrenceburg led the market with $323,968 in handle.
“The reopening of the retail market is important not only because it means significant new revenue for operators, but it also signals that the gaming industry is on the mend. Many challenges lie ahead for the industry, and the revenue lost can’t instantly be replaced. But things are headed in the right direction,” Gouker said.
The online market accounted for 98%, or $29.1 million, of June’s handle. DraftKings/Ameristar Casino led its online competitors with $18.2 million in bets, down from $20.1 million in May. That handle yielded $1.6 million in gross receipts, down from $1.8 million. FanDuel/Blue Chip Casino remained second with its $7.9 million handle in June, down from $12.3 million, resulting in an $839,056 win, down from $1.1 million.
“The Illinois launch of BetRivers could keep some Chicagoans at home, cutting off what has been a profitable market for Indiana. Indiana’s operators knew that day would come eventually, but it could slow down the near-term recovery for the state’s sports betting industry,” Welman said.
The Tennessee Sports Wagering Council through its executive director issued $50,000 in fines to Bovada.lv, an unlicensed and therefore illegal sportsbook operating in Tennessee.
Bovada failed to comply with cease and desist letters delivered to addresses in Curaçao, and Council investigators placed wagers through Bovada’s platform on three separate occasions, including as recently as October 16, 2024.
The Sports Gaming Act authorizes the Council to impose a $10,000 fine for the first offense of accepting wagers without a license, which rises to $15,000 for the second offense, and $25,000 for the third offense. Subsequent offenses may lead to the imposition of a $25,000 fine for each occurrence, an occurrence being a single wager accepted in Tennessee.
In the cease and desist letters, the Council ordered Bovada to allow all Tennessee users to withdraw any funds currently held by the unlicensed sportsbook.
“The Sports Wagering Council recommends that Tennessee users of Bovada withdraw their funds immediately. Our primary role is the protection of the public interest through a safe, regulated environment, and Tennessee sports bettors need to know that just because they can access a sports betting website or app inside Tennessee’s borders does not mean it is licensed to do business here,” Mary Beth Thomas, Executive Director of Tennessee Sports Wagering Council, said.
Legal sportsbook operators provide important bettor protections not found in the illegal market. If an individual wagers with unlicensed sportsbooks, their sensitive financial and personal information may not be protected and could even be shared with criminal enterprises. The bettor’s money could be withheld or disappear without a way to recover it.
The SWC is working closely with its network of law enforcement at the state and federal level to eradicate illegal sportsbooks such as Bovada and others.
Tennessee is the largest “online-only” sports betting market in the US, with more than $4.7 billion wagered in Tennessee last fiscal year through online sportsbooks licensed by the Council.
The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamava’ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favorite mechanics from top games with all-new themes, features, and bonuses.
“We have been humbled by the incredible global fanfare Dragon Link has received over the years but are never ones to rest on our laurels. The teams have been working tirelessly on a follow-up that brings together all the player-favorite elements in a new and exciting way with Phoenix Link as the proud result. We were thrilled to partner with Yaamava’ to premiere Phoenix Link with flair, excitement, and celebration,” said Victor Duarte, executive vice president of product for Aristocrat Gaming.
Phoenix Link players will enjoy the game’s additional denominations, configurations, and jackpots on each of the launch game theme titles. Gameplay features include Hold & Spin, Free Games with multiplier wilds or twin spin reels, Phoenix Mystery trigger, and more new bonus twists. Phoenix Link is available on the Neptune Single cabinet.
“Yaamava’ is thrilled to host yet another world premiere in gaming with the launch of Phoenix Link by Aristocrat Gaming. Our Club Serrano members are already raving about this captivating extension of the player-favorite Dragon Link. It’s a great addition to the Yaamava’ gaming floor,” said Kenji Hall, General Manager of Yaamava’ Resort & Casino at San Manuel, said.
On November 6, the iGaming industry in Mexico is preparing for a key event in which the benefits and challenges that regulation has brought to the Mexican market will be discussed. Under the title “Benefits of Regulation in the Mexican Market”, this panel will offer an in-depth look at the impact of regulation on transparency, competition and consumer protection, critical issues in the new digital era of iGaming.
The event, moderated by Geraldine Alexandra García Torres, Media Manager of Digital Gaming News, will feature the participation of recognized figures in the sector such as Daniel Magariños, representative of BMM Testlabs, and Hermilo Peregrina Cabrera of Prometeo IT Solutions. Both panelists will contribute their extensive knowledge and experience in regulation and certification in the Mexican market, and will analyze with the public the challenges and opportunities that companies face in an increasingly competitive and regulated context.
BMM Testlabs, who will participate as a Gold Sponsor, underlines with its sponsorship the importance of regulation to strengthen the iGaming sector in Mexico and demonstrates its commitment to progress and transparency in the Mexican market. For its part, Kushki joins as a Silver Sponsor, promoting the dialogue and analysis necessary for the industry.
Daniel Magariños, from BMM Testlabs, expressed his enthusiasm for participating in this digital webinar: “It has been a pleasure to be able to share our comments as a Laboratory on a market like the Mexican one and exchange opinions with a reference like Hermilo and the company Prometeo IT Solutions, with its excellent track record in this market. A relaxed talk with a lot of learning that I hope will be interesting for the attendees.”
For his part, Hermilo Peregrina, from Prometeo IT Solutions, highlighted the relevance of these spaces for dialogue: “Thank you to Conferencias iGaming for the invitation to participate in this panel. Thanks to Geraldine for coordinating us, and it was a pleasure to share ideas and opinions with my friend Daniel from BMM Testlabs, who has extensive experience in international regulations and certifications.”
Sponsor Support
The panel has the support of important sponsors who recognize the relevance of regulation in the development of the iGaming market in Mexico. Among them, BMM Testlabs as Gold Sponsor, and Kushki as Silver Sponsor.
Event Details:
Date: November 6
Time: 10:00 a.m. (Mexico)
Registration: Register here
Don’t miss the opportunity to be part of this essential conversation for the future of the industry. Secure your place and access a key analysis on the dynamic iGaming market in Mexico!
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