The Indiana Gaming Commission reported'on Tuesday that state sports wagering operators claimed $23.5 million in adjusted gross revenue for August as the Hoosier State wrapped up its fourth full year of betting by surpassing $1.1 billion in all-time operator revenue.
The August revenue amount was down 7.5% compared to August 2022, as the 9.9% sportsbook win rate was eight-tenths of a percentage point lower on a relatively flat handle. The $238.1 million worth of accepted wagers, though, was up 16.8% compared to July, as football and parlay wagers ramped up. Football handle increased more than eight-fold month-over-month to $17.3 million, while the $70.7 million in parlay bets was up 25.8%.
Indiana launched sports betting in September 2019 and has been a steady presence around the top 10 for monthly handle nationally. Though the year-to-date handle of $2.5 billion is 9.7% lower compared to the first eight months of 2022, Indiana is within $11 million of becoming only the seventh state to reach $13 billion in the post-PASPA era.
The state saw an inflow of $2.2 million in tax revenue for August, lifting the 2023 total above $22.6 million. Indiana’s taxes from sports wagering are running slightly more than $3 million ahead of last year, as revenue is up 14.6% despite the drop in handle. The 9.5% hold through the first eight months of the year is more than two percentage points higher versus the same period in 2022.
| Year | Handle | Adjusted Gross Revenue | Hold | State Tax Revenue |
|---|---|---|---|---|
| 2019 | $435,998,649 | $41,385,968 | 9.49% | $3,931,665 |
| 2020 | $1,768,632,211 | $138,625,690 | 7.84% | $13,169,441 |
| 2021 | $3,829,411,987 | $306,012,764 | 7.99% | $29,071,221 |
| 2022 | $4,467,882,206 | $387,027,644 | 8.66% | $36,767,626 |
| 2023 | $2,487,144,440 | $236,429,266 | 9.51% | $22,616,122 |
| TOTALS | $12,989,069,493 | $1,109,481,332 | 8.54% | $105,556,075 |