Press Releases
July Surge Sends Indiana Sportsbooks Past $1 Billion in Lifetime Bets, According to PlayIndiana
Indiana’s retail and online sportsbooks posted their best month since March, as the opening of baseball and the reopening of the NBA season sent betting activity soaring, according to PlayIndiana. Even with just eight days of major sports, sports bettors wagered $70.9 million in July, up 137.9% from the $29.8 million sportsbooks accepted in June and sending the state’s lifetime handle past $1 billion.
“Indiana’s sportsbook operators have proven resilient in the face of a pandemic that completely upended the sports betting model, along with so much else,” said Dustin Gouker, lead analyst at PlayIndiana.com. “The industry is closing on a return to a more normal market that has the potential of a huge surge with a full month of baseball, basketball, and hockey and the potential return of football nearing.”
July’s handle, reported Monday, was Indiana’s best since it posted $74.8 million in March. July’s bets produced $6.7 million in adjusted gross revenue, up 127.9% from $2.9 million in May, and yielded $632,554 in tax revenue for the state.
Despite the jump, bets were still off by $90 million from the expectations of an ordinary July, according to PlayIndiana estimates. Since March, Indiana’s sportsbooks have lost out on nearly $700 million in wagers.
The days of subpar months should end in August, though. Assuming a full schedule of baseball, the NBA, and NHL â baseball hit $14.5 million in July bets and basketball another $5.8 million â bettors will have more to draw their interest than in a typical August.
“If the leagues remain healthy, August could help sportsbooks make up some lost ground,” said Jessica Welman, analyst for PlayIndiana.com. “But the industry is not out of the woods yet. College football and the NFL still have challenges to overcome, and a significant loss of the football calendar would be a huge hit to sportsbooks.”
The July rebound pushed lifetime wagers to $1.03 billion since Indiana launched sports betting in October 2019, a milestone that should have been surpassed in spring.
Indiana’s sportsbooks have also tallied $84.9 million in revenue and $8.1 million in tax revenue since launch, putting more milestones in reach by the industry’s first birthday.
“Considering the obstacles Indiana’s sportsbooks have had to navigate, hitting the $1 billion milestone in 10 months is impressive,” Welman said. “If major sports can continue, and football returns, it won’t be long before the state surpasses $2 billion.”
After generating 98% of June’s bets, the online market accounted for 91.1%, or $64.5 million, of July’s handle. DraftKings/Ameristar Casino topped the online market again with $32.9 million in bets, up from $18.2 million in June. That produced $2.2 million in gross receipts, up from $1.6 million. FanDuel/Blue Chip Casino followed with $24.2 million in bets.
Retail sportsbooks are off to an expectedly slow start after reopening in June, producing a $6.3 million handle in July. Hollywood Lawrenceburg’s $2.7 million handle, up from $323,968 in July, easily led the retail market.
“DraftKings and FanDuel have very noticeably ramped up their battle for online dominance with each pouring millions into advertising campaigns, as sports betting continues to move more online,” Gouker said. “Hollywood Lawrenceburg’s handle is impressive, but as long as the pandemic rages on, in-person betting will be diminished. But operators with robust online products should continue to thrive.”
About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.
SOURCE PlayIndiana.com
The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Irelandâs NYC Hub
The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.
The Americas division was established in 2023 with the launch of The Unitâs partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unitâs activity in the Americas.
This new base will be located at Bank of Irelandâs NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.
The project will be put into practice by The Unitâs Head of Business Development & Account Management Mark OâHare, who has relocated to New York and will be responsible for The Unitâs commercial growth in the region.
With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.
Paddy Casey, Co-founder at The Unit, said: âThese are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.
âThis will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.
âThis is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. Weâre looking forward to mapping out our future in the region with our team on the ground there.
âI would like to thank Mark OâHare for making the move to New York, and Iâm sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.â
Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.
âWe look forward to hosting The Unit and wish them well in their endeavors to grow their business here.â
The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.
As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.
Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.
Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
âScratch & Win tickets can make great stocking stuffers for the adults in your life, but theyâre not for kids,â said Ryan McCarthy, BCLCâs Director of Player Health. âThe research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.â
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
âWith the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,â said Dr. Luke Clark, Director for Gambling Research at UBC. âOur research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.â
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
âOpen and honest conversations are crucial when it comes to navigating childhood exposure to gambling,â said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kidsâ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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