Indiana Sportsbooks, Bettors placed $254.4 million in wagers in May

Bettors placed $254.4 million in wagers in May at Indiana’s retail and online sportsbooks, according to official reporting released Friday. That is up 7.6% from $236.4 million in April, even as May’s handle remained well shy of the $316.7 million handle in March.

May’s bets produced $18.9 million in adjusted gross revenue, down 6.1% from $20.1 million in April while yielding $1.8 million in state taxes. In May 2020, online retail and sportsbooks generated just $3.2 million in revenue on $37.3 million in bets.

Online betting accounted for 89.8%, or $228.4 million, of the state’s handle, an increase from 88.4% in April.

DraftKings narrowly held its grip on the online market lead with $81.8 million in online bets, yielding $2.9 million in gross receipts. FanDuel was just behind with $79.3 million in bets and topped the market with $7.6 million in gross receipts.

Penn National’s Barstool-branded online sportsbook launched on May 18 and produced $6.3 million in wagers, the sixth-highest betting volume among Indiana operators.

On the retail side, Hollywood Lawrenceburg, nearest to Cincinnati, led the retail market again with $8.4 million in wagers, even with $8.4 million in April.