Last updated on July 15th, 2023 at 09:59 pm
In recent months, the Indiana sportsbook market has not been doing well. The state has experienced nine consecutive months of negative year-over-year handle, with July potentially being one of the worst months in years. However, despite these challenges, the enthusiasm for betting among Hoosiers remains evident, particularly during the ongoing baseball season. Something a pay per head bookie is thankful for.
According to the latest Indiana Gaming Commission’s report, the Hoosier State recorded $224 million in wagers during June. This marks a 21% decrease compared to the previous month. To provide some context, the decline observed from May to June last year was 16.8%. You can also track your sportsbook’s activity and trends with your sportsbook pay per head software. This will be important for you do, so that you will be able to identify any potential problems similar to what Indiana sportsbooks are facing now.
Indiana Sportsbook Market Continues On
As the state’s hold percentage returned to more typical levels, the taxable revenue also followed suit. In May, online betting sites record an impressive hold of 11.8%. However, in the next month, this figure declined to 8.6%. Consequently, Indiana’s monthly tax earnings dipped from $3.2 million to $1.8 million.
Although Indiana has a strong affinity for basketball, the NBA Finals, which spanned half of the month, did not dominate the betting scene as many would think. Surprisingly, it was America’s favorite pastime, baseball, that captured the attention of bettors. Your online bookie software solution can also track this, so make sure you generate reports on a regular basis.
Baseball wagers amounted to $64.9 million, nearly tripling the amount placed on basketball bets, which totaled $24 million. However, this can be attributed to the conclusion of the basketball season. When compared to May, baseball betting didn’t experience substantial growth, with only a slight increase of $100,000 in wagers during June. As always, parlay bets remained the most popular type of bet in Indiana’s sports betting market, with a whopping $81.9 million in wagers.
