The Indiana Gaming Commission reported Monday that legal sportsbooks earned more than $45.2 million in adjusted gross sports wagering revenue in October, as operators kept the heat on the betting public with a 10.5% hold.
It was the third time in the last four months the statewide win rate topped 10%, with August’s 9.9% hold the lone outlier. Four of the state’s 13 all-time double-digit holds in 50 months of wagering have come in 2023 — all in the last six months — and the October hold ranks seventh overall.
Despite topping the standard industry hold by some 50% in October, year-over-year revenue was down 3.6% because the $429.7 million handle was 3.7% lower compared to October 2022. This year’s October revenue ranked fourth all-time but was also dragged down by more than $900,000 in adjustments in operators’ favor.
The Hoosier State handle for October was just enough to enter the state’s top 10 all-time, replacing the $427.2 million worth of accepted wagers in January. The state received just shy of $4.3 million in tax receipts for the month, lifting the year-to-date total to $30.9 million.