Indiana Sports Betting Handle for June Surpasses $350 million

The Hoosier State saw sports betting slow down to kick off the summer.

The Indiana Gaming Commission (IGC) has reported that the bettors in the state spent $351 million on sports betting in June. While that number is up more than 17% year-over-year, it represents a 19% decrease compared to May. The industry generated $45 million in taxable revenue.

Indiana is estimated to receive around $4.3 million in tax revenue for the month.

Boost From Pacers Playoff Run Ends

The Indiana sports betting market posted impressive numbers in May, largely due to the success of the Indiana Pacers. The fourth-seeded team managed to win two playoff series during the month, giving fans in the basketball-crazy market plenty of chances to back their team. 

While the Pacers ended up in the Finals during June, that only gave bettors seven games to wager on. This helped Indiana see an uptick in its sports betting handle compared to June 2024, but it still saw a decrease compared to May.

Will the Market Benefit from New Illinois Tax?

While the handle was down in June, there is reason to believe Indiana’s sports betting market could soon get a boost. Neighboring Illinois hosts one of the largest sports betting markets in the country, but they have made it expensive for sportsbooks to operate over the last year. A new “pet-bet” tax and switch to a tiered annual rate system have angered operators, leading to new surcharges, fewer promotions, and watered-down odds.

While it is too early to tell how the battle in Illinois will play out, it seems likely that Indiana will be able to offer a far more competitive market for bettors. Given the state’s proximity to Chicago, it could lead some Illinois bettors to cross state lines before placing wagers.

Bet365 Makes Investment in Indiana

Indiana’s sports betting market has become an appealing market for sportsbook operators. The state’s 9.5% tax rate is among the lowest in the country, and lawmakers aren’t showing any signs of wanting to raise it. 

Indiana’s favorable sports betting market paid off recently when bet365 Sportsbook announced a new partnership with the Indiana Fever. The WNBA team has seen a significant surge in popularity since drafting superstar Caitlan Clark, with its fanbase growing exponentially over the last two years.

Bet365 will have the ability to advertise in the arena and on in-game broadcasts, giving them brand exposure in a quickly growing sport. It shows that the operator is willing to further invest in the market, which is a promising sign after a somewhat disappointing June.