Indiana Sets Record With $231M Sports Betting Handle in October

Spread the Word:

Indiana sports betting has exceeded expectations with a handle of $230.9 million in October, with $21.1 million in revenue.

According to Indiana Gaming Commission that released its report on Tuesday, mobile handle hit $193 million, or 83.6% of total wagering. This is a 7.9% increase from September ($179 million) and a 302% increase from October 2019’s $48 million.

The Hoosier State’s sports betting handle of $230.9 million is up 11.3% from September’s $207.4 million. Revenue also scored exceptionally well, with adjusted gross revenue for sports betting recording an unprecedented $21.1 million, a 47.7% increase from September’s $14.3 million.

Indiana sports betting market recorded decent sports betting handle despite Illinois entering the sports betting arena. NFL and college football schedules partly explain the record-setting month for the Hoosier state in terms of both sports betting handle and revenue.

Further Details

According to gaming experts, the sector saw unprecedented growth in handle and revenue as professional teams and colleges returned to normal sports schedules, despite the pandemic-led limits imposed on fans in the stands.

While speaking to the media Dustin Gouker said that Indiana’s sportsbooks fared well (in October), offering a clearer read on where the state market stands. “Interest in the Indianapolis Colts, Indiana University, and Notre Dame is helping as the Hoosier State transition from a market that relies on Chicago, to one that is more reliant on local bettors.”

The previous one-month record was $207 million, which was in September this year. According to experts, October’s handle is a 150% increase from what was achieved during the same period in 2019, where Indiana reported $92 million in sports betting handle. Additionally, the state yielded $2 million in taxes in October 2020 from the industry.

According to a gambling analyst Max Bichsel, Indiana could attain this record-breaking handle in November, particularly due to the NBA Finals, World Series, and the return of Big Ten football. He said October was an ideal month for sports betting operators who performed exceptionally well, meaning record-breaking revenue for the state.

Online sports betting accounted for 84%, with the remainder extracted from casinos. Total October casino revenue in the Hoosier State was around $150 million, down 1.9% from September. The good thing for the state is that sports betting taxes continue to increase, providing much-needed money to the state revenues.

Indiana Sports Betting Remains Stable Amid Illinois Market

It was feared that sports betting in the Hoosier State would be affected following the regulated market in Illinois. However, there is no immediate threat, and Indiana’s record-breaking sports betting handle in October clearly reflects that.

We still don’t know Illinois sports betting figures as the state reports results after more than a month, making it the longest wait for gambling data in the country. Even September numbers are awaited from the Land of Lincoln. Still, considering Illinois’s sports betting handle of $140 million in August without NFL betting, data for Indiana sports betting suggests an unaffected growth.

Illinois sports betting was never supposed to pose an immediate threat to the Indiana market. Initially, Illinois had planned to have in-person registration for its first 18 months of operation. However, that has not been the case. Due to the coronavirus-led emergency, Governor JB Pritzker allowed remote registration in the executive orders that he reversed for a month in July before allowing it again in August.

This development meant much of the sports betting traffic from Illinois, particularly Chicago, that would cross into Indiana to place legal wagers was able to register for sports betting in their home state since this summer.

Indiana Citizens Like Big Sportsbooks

The lion’s share of sports betting in Indiana came from online betting, and chiefly from two sports betting operators, DraftKings and FanDuel.

One thing that is pretty clear from the stats is that Indiana bettors like big brands. DraftKings led the state numbers with $90.5 million in mobile handle, with roughly 47% of the state’s total mobile handle. With $63.6 million, FanDuel secured second place in the state’s share of betting handle. BetMGM improved its position by coming third place, with roughly $20 million in handle.

The three leading operators left Indiana’s seven other online sportsbooks vying for fourth place. BetRivers ($7.8 million) was slightly up against PointsBet ($7.1 million) to claim this position. BetAmerica, Caesars, theScore Bet, and Unibet remained far behind in the race. However, Unibet ($1.8 million) took the most handle for the month.

Yet, Indiana’s latest operator, William Hill, which joined in late October, is hinted to take the top-five position.

Related News

Negative Pennsylvania Sportsbook Revenue
October 25, 2020

Pennsylvania Sports Betting Sets Record with $462 Handle

Pennsylvania sports betting market broke its own record in September with $462 million in handle, representing 26.8% up from its previous best. The Keystone State has joined the party along […]

read more
Scoreboard app
November 29, 2020

Oregon Sports Betting Posts Record-Breaking Handle in October

Oregon sports betting continues the general trend by posting its most successful month in October since it was legalized in August 2019. According to the figures posted last week on […]

read more
Welcome to Iowa sign
November 12, 2020

Iowa Sports Betting Sets Record in October with $80M Handle

Iowa has posted a record-setting month for the sports betting industry in the state in October with more than $80 million in handle. According to the Iowa Racing and Gaming […]

read more
Jersey Skyline
October 25, 2020

New Jersey Sports Betting Handle Sets National Record in September

The New Jersey sports betting market has set a new national record in September with around $748 million in betting handle. According to figures released by the New Jersey Division […]

read more
Hollywood Casino Ohio
November 16, 2020

Ohio Casinos & Racinos Post Record Revenue in October

Ohio casinos and racinos have achieved another record month in October while posting $169 million in gambling revenue. According to Ohio Casino Control Commission that released its data on Monday, […]

read more
October 15, 2020

New Jersey Sets A Record-Breaking Sports Betting Handle

The state of New Jersey has recorded an unprecedented boom in sports betting in August, with around a $668 million betting handle. Amid all the adversities including the coronavirus pandemic, […]

read more
Colorado flag
October 29, 2020

Colorado Sports Betting Sets a Record with $207M Handle in September

Colorado sports betting welcomed its first September as a regulated market by setting a record with more than $200 million wagered. According to the Colorado Department of Revenue’s Division of […]

read more
Bronco's football stadium
December 2, 2020

Colorado Sets New Sports Betting Handle Record in October

Colorado sports betting set a new monthly record for the state with a best-ever $210.7 million handle in October since the industry was legalized in May. According to the official […]

read more
November 22, 2020

Pennsylvania Shatters Sports Betting Record of $525M Handle in October

Pennsylvania has seen another record-shattering month as it posted more than $525 million sports betting handle in October. With these numbers, Pennsylvania joins Nevada and New Jersey as the third […]

read more
New Hampshire map
February 24, 2021

New Hampshire Sets Sports Betting Handle Record in January

New Hampshire sports betting hit another record Tuesday, which saw the state’s sportsbooks amassing $59.8 million in handle this January. According to the figures released by the New Hampshire Lottery, […]

read more
Iowa Hawkeyes player
April 11, 2021

Iowa Sets Sports Betting Handle, Revenue Record in March

After a cloudy month, the sun shines on US sports betting as Iowa sets a new monthly record in sports betting handle and revenue. According to the Iowa Racing and […]

read more
Colorado sign
December 29, 2020

Colorado Sports Betting Hits New Record Handle of $231M in November

Colorado sports betting has posted yet another monthly record with a total handle of $231 million in the month of November. The new figure represents a 10% from October’s $210 […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.