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Indiana Ends Four-Month Lull with $238M in Sports Betting Handle

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The month of August’s results are in, and Indiana has enjoyed strong sports betting handled throughout the build-up to the NFL season 2022. The numbers about the state’s performance were released on Monday by the Indiana Gaming Commission, and they offer a detailed breakdown of what happened in terms of sports betting over the month.

Sports Betting in Indiana Goes up in August

The Hoosier state reported a total of $238 million in total handle during the month of August, a 14.1% increase from a month before when Indiana collected $206.6 million in total bets. The month of August in 2022 was also up 9.9% on annual basis, against $215.6 million collected back in August 2021.

The month was also the first when Indiana saw the sports betting handle plug a four-month downward trend in which sports gambling receipts continued to decline. The lull was not exactly surprising given that summer is usually only left to Major League Baseball, which is still a solid driver of betting handle and results.

Meanwhile, sports betting was booming at the state’s 13 sportsbooks this year. DraftKings managed to outstrip FanDuel in terms of online wagers, with the company collecting $7.17 million in bets and ahead of FanDuel’s $69.6 million. BetMGM came in third with a significantly smaller overall number at $28.6 million.

Caesars clocked in $19.8 million in online wagers as well. Understandably, soccer and American football drove interest in sports gambling during the period. In terms of the statewide handle by sport, baseball still pulled ahead with $77.60 million. Retail accounted for a fairly small part of the total betting experience. For example, the DraftKings sportsbook pulled in only $1.5 million in retail wagers compared to $258,930 for FanDuel. Hard Rock Casino Northern Indians only registered retail revenue, though with $574,361.

Strong Tax Revenue Windfall and Results

The Unibet sportsbook at Horseshoe Hammond pulled in $6.27 million compared to $1.24 million for retail. The state managed to collect $2.41 million in sports wagering tax in August, out of a $25.44 million taxable amount.

From this point on with the NFL season 2022 starting, revenue across the nation driven by sports gambling will continue to climb up. The NHL and NBA seasons and NCAA events are also around the corner, and the outlook is for a very busy season indeed over the coming months through the end of March.

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September 13, 2022
Arizona Department of Gaming Releases June Report, Betting Handle Drops 31%

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The Arizona Department of Gaming has released its June monthly report, which states that the total sports betting handle was $318.7 million in the said month. The number represents a massive 31% drop from the $461.4 million handle in May.

Arizona Was Ranked 6th Nationally in Handle and a Majority of Bets Were Made Online

According to the report, $315.9 million of the total handle came via mobile bets. Additionally, Arizona ranked 6th nationally in total handle.

Payouts were decent in the month as the total winnings by players reached $306.2 million. Mobile winnings reached $303.3 million, whereas retail winnings were $2.9 million.

FanDuel, which is set to launch its own sports TV network, was the biggest winner in June. Its retail handle was $2.3 million and its mobile handle reached $103.9 million. Caesars (American Wagering) had a $331,583 retail handle and its mobile sports betting handle reached $59.7 million.

DraftKings/Crown Gaming’s mobile revenue reached $92.8 million, followed by BetMGM ($59.7 million) and Penn Sports (Barstool Sports), whose mobile revenue was $9.3 million. Rush Street Interactive’s mobile handle was $3 million SBOpco, LLC (SuperBook) had a $2.7 million mobile sports betting handle.

The top 5 operators in terms of payouts were FanDuel ($96.4 million), DraftKings/Crown Gaming ($96 million), BetMGM ($54.3 million), Caesars (American Wagering) ($32.2 million), and Penn Sports (Barstool Sports) ($8.5 million).

Ted Vogt, the director of ADG, stated that even though June was relatively slow, Arizona’s numbers were still strong on a national level. He noted that the operators contributed more than $750,000 in privilege fees. According to Vogt, the total amount of privilege fees since the start of legal sports betting operations in the state reached almost $17 million.

Arizona’s FY2022 Resulted in $2.7 Billion in Gross Gaming Revenue

Recently, ADG also released its FY2022 report. During the period between July 1, 2021, and June 30, 2022, the total GGR reached $2,709,320,418. Aggregate revenue (tribal contributions) that were deposited in the Arizona Benefits Fund reached $123,645,398 (interest thereon included).

The annual report shared details as to how the money will be distributed. The Arizona Benefits Fund received 88% of the total annual contribution of each gaming tribe. The ADG will use 9% of $8 million (whichever number is greater) for “reimbursement of administrative and regulatory expenses.”

Then, 2% of the contributions will be used to fund programs related to gambling harm treatment and education.

The rest of the money will be distributed in the following way – 56% of the money will be deposited in the Instructional Improvement Fund. The Trauma and Emergency Services Fund will receive 28% of the money and the Arizona Wildlife Conservation Fund will receive 8% of the money.

Finally, the e Tourism Fund Account will receive an additional 8% of the money. The report states that the ADG will distribute the money on a quarterly basis.

The remaining 12% that is not deposited to the Arizona Benefits Fund will be contributed to cities, towns, and counties.

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September 6, 2022
Colorado Sports Handle Declined but GGR Increased

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Statistics show that gambling is one of the preferred pastimes of more and more people in the United States. As the financial results of many markets in the US show, gambling revenues continue to grow as America braces for a second record year in a row. However, there are always some fluctuations as well.

Colorado Handle Continues to Decline

Colorado, for example, continues to see a gradual decline in its sports betting handle. July was notably the fourth month in a row where the states’ sports wagering kept on declining. To be more precise, sports betting handle for the month was $258.4 million, which is the lowest sum sportsbooks in the state have recorded in 2022. For comparison, in June, sports betting operators earned $313.2 million, meaning the industry experienced a 17.5% month-on-month decline.

According to official data, most of July’s handle was spent on online sports betting. Online punters collectively wagered about $256.4 million on sports, as opposed to retail sportsbooks which barely mustered a handle of $2 million.

If we take a look at which sports performed the best, we can see that baseball was Coloradoans’ preferred discipline to bet on. Almost half of all wagers placed on sports, or $110.6 million, were bet on baseball. Tennis was the second most popular game with $24.4 million of the sports betting handle. Basketball’s share sat at around $23.4 million.

Things Aren’t So Bad After All

Despite the declining GGR, the situation is not as grim as it may sound. On the contrary, July’s results still represent a year-on-year increase from July 2021’s results. Last year, the sports betting industry in Colorado earned $181.3 million in July, which is 42.5% less than the current year’s results.

Furthermore, the industry recorded a noticeable gross gaming revenue increase. In July 2022, the industry posted a GGR total of $20.8 million, which represents a 205.9% month-on-month increase and a 32.5% year-on-year increase. Online betting contributed $14.2 million in GGR, which is 68% of the total revenue.

Lastly, the industry contributed around $1.1 million in taxes in July alone.

In July, Colorado also launched new regulations that aim to curb gray casinos in the state. This includes crypto casinos and unlicensed venues that try to avoid the state’s strict rules on gaming.

In other news, bet365, one of the most influential European sports betting operators, just launched in Colorado after a few months of delay.

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September 5, 2022
Sportsbooks in New York Report Strong Betting Handle for Mid-August

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Regulated mobile sportsbook reported strong betting handle and revenue for the week ended August 21, judging by newly released figures.

Mid-August Betting Handle, GGR Increases in New York

The New York State Gaming Commission, which is the government body tasked with regulating sports wagering, has announced the financial results for sportsbooks reported for the week ended August 21. Judging by the recent data released by the Commission, the total betting handle for the week until August 21 hit $200.1 million, while mobile sports wagering gross gaming revenue (GGR) hit $24.4 million.

When compared to the $197 million in betting handle reported a week earlier and the $21.1 million in mobile betting GGR, the recent result marks a slight increase. However, the $200.1 million in betting handle marks the first week with a result above $200 million after a decrease that was observed in the last month and a half. What’s more, the mobile betting GGR for the week until August 21 marks the best result in the last month.

Fanduel, DraftKings and Caesars Report Strong Betting Handle

It’s no surprise that the premier sportsbook operator FanDuel reported the highest betting handle for the week until August 21. Overall, the operator reported a betting handle of $85.5 million, which translates to a total of $12 million in mobile sports wagering GGR for the period.

The second-highest betting handle was reported by DraftKings. The operator’s betting handle for the week until August 21 hit $55.3 million, which brought DraftKings $6.6 million in GGR for the period. The third-highest betting handle for the week ending August 21 was reported by Caesars Sportsbook. For the period, the operator reported $26.9 million in betting handle. This means that Caesars Sportsbook’s GGR for the week was $3 million.

BetMGM was another mobile sportsbook operator in New York that reported a strong betting handle and GGR for the week until August 21. The sportsbook’s total betting handle for the period was $17.1 million, while its mobile betting GGR hit $2.1 million. According to the State Gaming Commission, Rush Street Interactive reported $6.8 million in betting handle for the week until August 21, while its GGR was $545,000.

It was back in January this year when New York launched its mobile and online sports betting market. In its first few months of operations, the mobile betting market in the state proved it holds significant potential and surpassed betting handle and GGR records set in other US states where the activity has been legal for years. Currently, brick-and-mortar sportsbooks are subject to a 10% tax rate, while online sportsbooks pay 51% tax.

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August 29, 2022