- After a launch month, states usually see their licensed sportsbooks’ hold percentage anywhere from 10-40%.
- French Lick Casino is reported to have held only 5.1% of all money risked due to successful Colts’ bettors.
- Winning five of their last six, the Colts may challenge bettors moving forward with difficult opponents.
FRENCH LICK, Ind. – Indiana sports betting is off to an excellent start but one casino is proving just how spectacular sports bettors in the state have been.
Through October, French Lick Casino and Resort was reported to have a hold percentage of 5.1% for the month.
While this is considered an average hold percentage for sportsbooks (or the percentage of money kept after paying out the winning wagers), many books do not start out with hold percentages that low. In general, sportsbooks when launching (and into their second month of operations), see hold percentages from 12-35%, as bettors are still figuring out their betting strategies and placing futures wagers.
According to Matt Stetz, the COO of Rush Street Interactive, the casino is seeing hold percentages that are just about half of what the other Rush Street sportsbooks are collecting.
In addition to French Lick, Rush Street is responsible for operating three Rivers casinos (Indiana, Pennsylvania, and New York) and Sugarhouse Casino (Pennsylvania). The gaming company also is in charge of the online presence for the aforementioned casinos in all but New York, which includes a New Jersey market associated with their online Sugarhouse book.
As low as the number is, this is a strong indication that bettors in Indiana are well ahead of the curve. As the NFL is the reason for heaving betting action during these months, it appears that French Lick Casino has been losing out on more revenue from Colts’ fans.
“We aren’t surprised that bettors in Indiana know their football,” said Stetz. “Colts nation is very strong and knowledgeable.”
However, looking deeper into this situation, it is clearer to see why this establishment hasn’t been making as much money as expected from the start. As the venue is in the heart of Indiana, it is safe to assume most of the people betting in Indiana are diehard Colts fans. The Indianapolis Colts are 4-3-1 against the spread this year, having won five of their games.
Even further, in October, the Colts went 3-0 with wins over the Kansas City Chiefs, Houston Texans, and Denver Broncos. The team covered the spread in two of those wins meaning there wasn’t much to lose when betting on the Colts.
With an even amount of home and away games moving forward, four divisional games to be played, and a battle against all but the Atlanta Falcons from the NFC South, it will be interesting to see how the books adjust to close the second half of the NFL season. Bettors in French Lick have been winning fairly regularly, but only time will tell if this will continue.
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News tags: Denver Broncos | French Lick Casino Resort | Houston Texans | Indiana | Indianapolis Colts | Kansas City Chiefs | Matt Stetz | New Jersey | New York | NFL | Pennsylvania | Rivers Casino | Rush Street Interactive | SugarHouse Casino
Michael began writing as an NBA content writer and has spent time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant. A graduate of both schools, he covers topics focused on legal sports betting bills, sports betting revenue data, tennis betting odds, and sportsbook reviews. Michael likes to play basketball, hike, and kayak when not glued to the TV watching midlevel tennis matches.