The U.S. sports betting industry continues to put up some impressive numbers throughout the country, but most of the numbers are much less than they were a year ago. That was the case in the state of Indiana for the month of July, but Illinois is not seeing that same trend in 2023.
There was a time in which Indiana was the online sports betting leader in the Midwest, but that is no longer the case at all. Illinois has not only become the leader in that part of the country, but it’s one of the biggest markets in the United States.
Here is a look at how the most recent sports betting reports from Illinois and Indiana looked, and you will notice that things are much different.
Illinois Posts Record Hold
The Illinois Gaming Board is always way behind when announcing sports betting totals as the May report was just announced. It was another massive sports betting month for the state, and the online sports betting hold was 10.8%.
That was a record for the online sportsbooks in the state of Illinois, and parlay wagers continued to be a major win for the operators. Sportsbooks were able to win nearly 24% of the parlay bets that were made, and that continues to be a popular wagering option for Illinois bettors as well.
So far based on the states that have reported sports betting totals for May, the national hold rate is more than 11%. The national average continues to be right around 7% since the online launch began back in 2018, but sportsbooks dominated bettors in May.
FanDuel continues to be the leader in the state of Illinois, and DraftKings is the only other operator that even keeps things close. There are still just seven online sportsbooks in the state, but that number is going to go up later this year.
Circa Sports is coming to the state of Illinois, and it should be available prior to the start of the 2023 NFL season.
Indiana Sports Betting Revenue Falls
Not only are sportsbooks in the state of Indiana seeing less action compared to the 2022 numbers, but the total revenue continues to fall as well. The Indiana Gaming Commission just announced that the June gross sports betting revenue total was just $19.5 million, which is the first time in more than a year that it has been under $20 million.
There are a number of different states that have been seeing a decrease in total handle from year-over-year, but it was extremely pronounced in Indiana last month. Total revenue declined by nearly 13% from the June 2022 numbers, and this is a troubling trend for the Hoosier State.
One big reason for a dip in the total handle in the state is that there weren’t any basketball betting options last month. Ohio is also stealing money from the state of Indiana and that has been the case throughout the entire 2023 calendar year.
