After the state of New York revealed dismal figures for the month of November, Indiana too revealed that its revenue dropped 19.4% to $9.3 million month on month. The two states missed out on the busiest betting month of the year.
New figures reveal troubles
According to the Indiana Gaming Commission, the regulated sports betting market in the state grew steadily in November. However, it was unable to record a rise in month-on-month revenue. In November, the state’s total handle was $147.3 million, marking a striking 60.6% improvement in the last month. The revenue didn’t improve according to expectations. Instead, it fell by 19.4% month-on-month to $9.3 million.
Punters in the state are preferring to go the digital route. In total, punters placed stakes worth
$96.2 million via their desktop and mobile devices. This is 65.3% of the total amount wagered during the month, a 2x increase from October.
DraftKings leads the way
As a mobile game becomes more popular, DraftKings took the cake home with a total wager amount of $64.1 million. It operates a skin using the license of Ameristar Casino by Penn National Gaming. The casino only earned about $8 million during the month. The digital revenue grew to $4.3 million, marketing a 22.8% increase. The property’s retail betting figure went down to $735,103.
DraftKings competitor FanDuel’s revenue also increased during the month. The company has partnered with Blue Chip Casino to provide gambling services. In the last 8 days of October, the company’s handle was $2.4 million which grew to $23.7 million last month. The revenue for the month was $1.7 million. The casino handled $4.5 million in wagers but its revenue was only $310,955, marketing a drop from the previous month.
Another digital sportsbook in the region is operated by French Lick Casino by Rush Street. The number of wagers at the digital sportsbook was $8.4 million with a $476,284 revenue. The casino recorded $1.2 million in handles with a revenue of $45,357. More properties are planning to launch online betting in the coming months. One amongst them is Horseshoe Hammond by Caesars Entertainment. In November, customers bet $13 million at the casino but their sports betting revenue fell by 52.4% during the month.
As a result of this dramatic fall, the Hollywood Casino Lawrenceburg is now the top property in terms of retail betting revenue which grew by 36.2% to $1.2 on handles worth $8.8 million.