The Indiana Gaming commission reported on Wednesday $19.5 million in adjusted gross sports wagering revenue for the month of June, the first time in 12 months the total slipped under $20 million.
It was the lowest operator revenue total in Indiana since the $15.8 million claimed for the same month last year. That light revenue number came through a combination of soft handle and solid wagering by the public, which limited the house to a 6.2% hold. There has not been a monthly win rate below 8.5% since, with June’s landing at 8.7% from $224.1 million wagered.
Year-over-year handle declined 12.6%, but revenue was up 23.4% as this year’s win rate was more than 2.5 percentage points higher. Both handle and revenue figures, however, declined steeply against May 2023’s figures, as wagering was down 21% and revenue was off 42% with June’s hold 3.2 percentage points lower.
Indiana did cross $2 billion handle for the 2023 calendar year — though the handle is 11.5% lower versus the $2.3 billion wagered in the first six months of 2022. But the much higher 9.3% hold this year thus far has contributed to an 18.6% rise in operator revenue to $189.6 million.
The state received $1.8 million in tax revenue for the month as Indiana became the ninth state in the post-PASPA era to surpass $100 million in total sports wagering taxes. The Hoosier State, which taxes adjusted gross revenue at 9.5%, joined Nevada as the only states among the nine to reach the milestone with a rate on all wagering revenue below 10%.
It was the lowest operator revenue total in Indiana since the $15.8 million claimed for the same month last year. That light revenue number came through a combination of soft handle and solid wagering by the public, which limited the house to a 6.2% hold. There has not been a monthly win rate below 8.5% since, with June’s landing at 8.7% from $224.1 million wagered.
Year-over-year handle declined 12.6%, but revenue was up 23.4% as this year’s win rate was more than 2.5 percentage points higher. Both handle and revenue figures, however, declined steeply against May 2023’s figures, as wagering was down 21% and revenue was off 42% with June’s hold 3.2 percentage points lower.
Indiana did cross $2 billion handle for the 2023 calendar year — though the handle is 11.5% lower versus the $2.3 billion wagered in the first six months of 2022. But the much higher 9.3% hold this year thus far has contributed to an 18.6% rise in operator revenue to $189.6 million.
The state received $1.8 million in tax revenue for the month as Indiana became the ninth state in the post-PASPA era to surpass $100 million in total sports wagering taxes. The Hoosier State, which taxes adjusted gross revenue at 9.5%, joined Nevada as the only states among the nine to reach the milestone with a rate on all wagering revenue below 10%.
