Indiana Sees June Sports Betting Dip
Land-based casinos reopened through Indiana in the middle of June, but the sports betting industry continued to struggle.
June produced a small dip in both total revenue and betting handle, and there were many contributing factors.
Indiana saw just $29.8 million in total sports betting handle, and that was almost a 20 percent decrease from the numbers produced in May. With the lower amount of betting handle, revenue also saw a decrease from what was brought in during May.
Industry experts suggested that Indiana was expected to bring in close to $145 million in sports betting handle in June if the industry was operating under normal circumstances. The coronavirus pandemic has played a huge role, but June has always been a slow month in terms of sports betting.
Normally, June is a downtime for professional sports in the United States, and that was the case this year as well. Most professional sports are set to return either later this month or at the beginning of July.
Even though land-based casinos reopened in the state in June, these locations don’t bring in a very large portion of sports betting revenue. Retail sports betting accounted for just $634,486 of all sports betting handle that took place last month.
Online sportsbooks have continued to stay open throughout the pandemic, but they have been limited with the number of bets they could offer. Most sportsbooks looked for international sports, but many of those leagues were shut down as well.
International sports did account for most of the betting handle in June, but their contribution was more than 30 percent. International sports betting contributed $20.4 million to the June total.
French Lick Resort led all online operators in Indiana with more than $1.3 million in total betting handle. Belterra Casino Resort was the next best online operator, bringing in close to $1.1 million.
theScore Bet Set to Launch Soon
theScore Bet announced earlier this week that their sports betting program would be launched by the end of the summer. The launch of theScore Bet is expected to take place before the start of the NFL season, but there are a few steps that still remain.
Mobile sportsbook operators have to go through a long process before they can launch in Indiana, and there are several groups that have to give their approval. The Indiana Gaming Commission has given their initial approval, but they must vote on a few other issues before theScore Bet can launch.
Score Digital Sports Ventures Inc is the parent company of theScore bet app, and they just recently received their GLI-33 certification. This was one of the final steps that was needed before the company could begin preparing its launch.
Penn National Gaming Inc also entered into a partnership with theScore almost a year ago, and that gave the company the chance to launch in Indiana. The partnership was for 20 years, and both companies are expecting plenty of success from this deal.
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