The Indiana Gaming Commission reported its sportsbooks combined for an 11.1% hold in July on Monday, the third consecutive month operators attained a double-digit hold.
It is the longest such streak since the all-time high of a four-month run from July to October 2022. It was the 18th time in 59 months of wagering Indiana sportsbooks were able to reach 10%, but 13 of those instances have come in the last 25 months, including each July the last three years.
The $29 million in adjusted sports betting revenue was up 24.9% from July 2023, slightly trailing the 28.1% increase in handle to $261.1 million. Since the hold was nine-tenths of a percentage point higher than the 10.2% reached in June, month-over-month revenue declined only 4.8% compared to the 12.4% downturn in handle.
Sportsbook revenue in the Hoosier State through the first seven months of 2024 has totaled $266.5 million, up 25.2% from the same period last year. After collecting nearly $2.8 million worth of tax receipts in July, the $25.3 million in year-to-date revenue is up $4.9 million from the same period in 2023.