Sports betting handle and revenue in Indiana experienced a downturn in October compared to the previous year, but there was still an overall month-on-month increase. Player spending on betting in October totaled $429.7 million, which was 3.7% lower than the $446.2 million spent in Indiana the previous year, but it was also 6.3% higher than the $404.1 million spent in September 2023.
The NFL season being in full swing likely contributed to the majority of bets being placed on football, with $153.3 million wagered on the sport. Additionally, Indiana players spent $142.3 million on parlay bets, $38.3 million on basketball betting, $27.4 million on baseball, and $68.0 million across other sports.
Taxable adjusted gross revenue also saw a slight decline of 3.6% from $46.9 million in October 2022 to $45.2 million this year. However, October’s total revenue was 10.0% higher than September’s $41.1 million.
Ameristar Casino and DraftKings led the way in Indiana for the second consecutive month, generating $17.8 million in revenue from $172.8 million in bets. Blue Chip Casino and FanDuel, who had previously led in the state, posted $17.4 million in revenue off a handle of $147.1 million for October.
Belterra Casino, another FanDuel partner, rounded out the top three in the state with $3.7 million in revenue from $36.7 million in customer spending on betting.
In terms of tax revenue, Indiana collected $4.3 million in sports betting tax in October.
Overall, while there was a year-on-year decline in both handle and revenue, the month-on-month growth in October for sports betting in Indiana indicates a positive trend for the industry.