Vermont Sports Betting Hits $11M in August, Indiana Sees 57% Surge in September

Vermont saw sports bettors place wagers totaling over $11.31 million, as announced by the Vermont Department of Liquor and Lottery. This handle reflects the activity of both in-state and out-of-state bettors, with the former contributing the majority of the bets.

Throughout the month, in-state participants placed a total of 327,582 wagers, which ed for a handle of $7.79 million. Out-of-state bettors, placing 103,214 bets, contributed the remaining $3.52 million to the overall figure. On average, each wager was approximately $26.

However, August’s adjusted gross sports betting revenue took a dip, coming in at $856,707. This represents a 25.59% decline compared to July’s revenue of $1.15 million. The revenue figure was also lower than the $1.1 million generated during the state’s first month of reported online sports betting, which took place in January.

A detailed breakdown of Vermont’s sports betting activity in August reveals that baseball led the way in of handle, with $3.47 million wagered on the sport as the regular season neared its conclusion. Tennis followed closely with a $2.29 million handle, thanks in part to the U.S. Open, which occurred from August 19 to September 9.

Football, despite being in its preseason stage, managed to secure the third-largest handle, totaling $958,496. Table tennis and soccer rounded out the top five, with handles of $620,909 and $564,563, respectively. All other sports combined brought in an additional $3.4 million to the overall handle.

Indiana Sports Betting in September

While Vermont experienced a significant month in August, Indiana’s sports betting market saw a major spike in September 2024, largely due to the return of the NFL. According to the Indiana Gaming Commission, the state’s sports betting handle exceeded $483 million in September, marking a 57% increase compared to August’s performance.

The NFL’s return proved to be a major factor behind the surge, with bettors spending over $175 million on football wagers alone during the month. Sportsbooks in the state reported an adjusted gross revenue of just under $53 million for September.

The leading contributor to Indiana’s sports betting revenue was Ameristar Casino East Chicago, which is d with DraftKings. Its partnership with DraftKings contributed significantly to the total, as did Blue Chip Casino, which has an agreement with FanDuel. Together, these two casinos ed for more than 70% of Indiana’s total sports betting revenue.

In addition to sports betting, Indiana’s 13 casinos collectively generated over $179 million in casino revenue for the month of September. Hard Rock Casino Northern Indiana stood out as the largest contributor, responsible for nearly 20% of the total casino revenue.

Indiana’s gaming taxes also saw a substantial boost, with the state collecting more than $43.5 million from sports betting and casino operations combined. Looking ahead, Indiana could further increase its gaming revenue. An economic impact study recently revealed that the proposed casino in New Haven could generate over $80 million in tax revenue, signaling potential growth for the state’s gaming industry.

Source:

Vermont Sports Betting Handle Over $11 Million in August, Indiana Sports Betting Up 57 Percent in September Over August, cdcgaming.com, October 14, 2024.