Indiana has set a “staggering pace” that has set the stage for a “momentous 2020,” with the region’s retail and online sportsbook ending the year by surpassing $160m in bets in a month for a the first time.
The region’s record handle for the last month of the year pushed the state to more than $430m in bets since the first wager was accepted in September, according to analysts from PlayIndiana.
Once again, the top retail sportsbooks were those closest to large out-of-state markets. Leading the way in Indiana continues to be Horseshoe Hammond, near Chicago, generating $13.4m in December, up from $13m in November. Those bets generated $1.1m in gross receipts, up from $800,208.
DraftKings, which operates under the Ameristar Casino license, led the online market once again in December, attracting $66.7m in bets, up from $64.1m month-on-month, and generated $5m in gross receipts, up from $4.3m. This was followed by FanDuel/Blue Chip Casino, which generated $36m handle in December, up from $23.7m, and a $2.2m win.
“Indiana’s strong start is unquestionably tied to the state’s relatively early launch of online sports betting,” said Dustin Gouker, lead analyst for PlayIndiana.
“Online sports betting should make up an increasing share of the state’s handle, too. That will help steady Indiana’s sports betting industry, even as increasing competition from neighboring states affect retail sportsbooks, which is inevitable.”
The state’s $161.8m in bets, up ten per cent from $147.3m, produced $12m in adjusted gross revenue, up 29 per cent from $9.3m, yielding $1.1m in taxes.
Indiana sportsbooks have now generated $433.4m in bets and $42.7m in revenue since launch, making it the fourth-largest sports betting market in the country
“Indiana’s ascent to one of the largest sports betting markets in the country has been impressive by most any measure,” added Gouker. “The question for 2020 is whether Indiana can sustain its rate of expansion, especially as neighbouring states become more likely to legalise sports betting. That has already happened in Michigan, which could take a bite out of the handle at some of northern Indiana’s retail sportsbooks.”
In Indiana, $110.6m of December’s bets were made online representing 69.5 per cent of the state’s total handle, up from 65 per cent a month earlier.