Indiana sets sports betting records with $53.5m in January revenue

In January, Indiana broke records with a total taxable adjusted gross revenue (AGR) of $53.5m, surpassing the previous record set in December. The state also reported a total sports wagering handle of $480.3m, although this was a 4.5% decrease from the previous month’s total. Of the handle, $269.9m was spent on parlays, with American football and basketball receiving a significant portion of the bets.

The battle for sports wagering dominance in Indiana continues between DraftKings and FanDuel. Ameristar Casino, in partnership with DraftKings, led in handle with $181.4m, while FanDuel came away with a total AGR of $23.3m despite taking in less bets than DraftKings. Other major players in the Indiana sports wagering market include Penn Entertainment-operated Hollywood Lawrenceburg and Belterra Casino, both with substantial handle numbers.

In addition to sports betting, the potential for igaming in Indiana has been a topic of interest. A report commissioned by the Indiana Gaming Commission estimated that the state could generate as much as $2.1bn in igaming revenue over the first three years following legalization. There were initial concerns about the potential negative impact on land-based gaming, but a recent report found that igaming has not had a negative effect on income for land-based gaming verticals in other states.

To add to the sports wagering market, Bet365 launched online sports betting in Indiana at the end of January, marking its entry into the eighth US market. Partnering with the French Lick Resort land-based casino, Bet365 is now part of Indiana’s growing sports wagering landscape. French Lick Resort reported a total handle of $12.3m for January with a taxable AGR of $1.2m.

Overall, the sports wagering and igaming industries in Indiana are showing strong growth potential and garnering interest from major players in the market.

By admin