Indiana sportsbooks have continued to go from strength to strength, surpassing $250m month-long wagers for the first time as local NFL and college football teams continue to be a draw for local bettors.
The state’s online and retail sportsbooks accepted $251.4m in bets in November, according to official reporting released this week, which builds upon the then record breaking $230m recorded a month earlier. This represents the third consecutive month Indiana sportsbooks have set a state record.
Wagering in November produced a record $25.3m in adjusted gross revenue for the state’s operators, up 20 per cent from the record $21.1m set in October, and yielded $2.4m in state taxes. Year over year, Indiana’s handle grew 70.7 per cent from $147.3m in November 2019, while gross revenue jumped 172.4 per cent from $9.3m.
“Indiana has largely managed to shrug off increased competition from its neighbours, which is a good sign for the future of the state’s industry,” said Dustin Gouker, lead analyst for PlayIndiana.com.
“A lot has gone right in recent months to get Indiana to this new high point, but considering the challenges, it has been an impressive string of months.”
Online betting in the Hoosier State generated 85 per cent, or $213.7m, of November’s handle, increasing the share of all bets from 83.6 per cent in October.
DraftKings/Ameristar Casino continued its dominance of the digital market, increasing its bets to $95.2m in November from $90.5m in October even as gross receipts dipped to $7m. FanDuel/Blue Chip Casino was second with $64.2m in wagers and $7.7 m in gross receipts.
Retail sportsbooks took in $37.7m in November wagers, down slightly from $37.9m in October. Once dominated by sportsbooks nearest Chicago, retail sportsbooks were led in November by Hollywood Lawrenceburg ($11.6m in handle), which sits in close proximity to Cincinnati.
“Chicago is still an important market for sportsbooks near the border, but the combination of Illinois’ sports-betting expansion and the pandemic has challenged the retail market,” added Jessica Welman, analyst for PlayIndiana.com.
“As a whole, though, growth in online betting has more than made up for any slowdown in the retail market. And Indiana made last-minute protocol changes to keep casinos open while properties in surrounding states shut down, which has helped the industry.”
