Indiana sports betting revenue hits $1 billion in wagers

  • After a two-month hiatus due to casinos being closed in response to the coronavirus pandemic, sports betting in Indiana has begun to surge.
  • This surge has led to the overall sports betting handle to hit over $1 billion in less than a year of operation.
  • This achievement was garnered after only six months of being active.

INDIANAPOLISIndiana sports betting handle has managed to hit $1 billion in wagers in total in less than a year of operation. The Hoosier State’s betting market has benefited greatly from the return of sporting events, to say the least.

The Indiana Gaming Commission (IGC) has reported major successes in July as the key factor in what pushed the overall betting handle to hit the $1 billion mark.

Indiana managed to garner new users thanks to giving sports bettors the option to register for online sports betting apps without having to enter a casino floor.

Indiana Betting Market Bounces Back

For two months Indiana was forced to keep its casino’s doors closed due to the pandemic. Now, Indiana sports betting is in full swing again and the Hoosier State’s revenue is reaping all the benefits.

As reported by the IGC, Indiana saw $175.8 million statewide in casino revenue. This is only $10.1 million short of the total July revenue in 2019.

The casinos are obviously happy with the return to form after forcing the casinos to be closed due to the pandemic.

“We’re very pleased with the July results,” said Dan Nita, general manager of the Horseshoe Casino in Hammond and regional president of its parent company, Caesars Entertainment Inc. “We continue to work very hard on providing a great entertainment escape for our guests, and over the last several weeks we continue to find ways to add to the experience.”

The Horseshoe Casino was responsible for $30.5 million of the reported revenue in July.

The IGC reports show that $70.9 million in the statewide gambling revenue for July came in from sports wagering. The main events that Indiana bettors were wagering on were UFC fights and the MLB.

It is expected, with the return of the NBA season that revenue will continue to grow and stabilize in the market. Legal sports betting in Indiana has managed to regain its steady revenue stream following the pandemic.

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