Indiana Sports Betting Continues to Impress
The Indiana Gaming Commission has compiled the sports betting numbers from November, and once again the report was extremely impressive. Total sports betting climbed up to $452 million for the month of November, which was a slight increase from the October figures.
This impressive figure in terms of handle also pushed the lifetime total of Indiana sports betting to over $10 billion. Indiana is no longer the leader in the Midwest as it once was, but sportsbooks continue to see plenty of action each month.
What’s even more impressive than the lifetime handle of more than $10 billion is the fact that over $4 billion has been wagered in 2022 alone. Indiana continues to have a huge list of sportsbooks available, and there is still room for growth in the market.
Total sports betting revenue for the month came in right around $40 million, and that brought in over $3 million in taxes. Total revenue since 2019 is now up over $800 million, and over $80 million in taxes have been paid to the state.
There is a bit of concern for Indiana sportsbooks heading into 2023 as the state of Ohio is going to launch mobile betting on January 1. Indiana already has to deal with Illinois, and adding more competition could end up having a negative impact on the overall numbers.
Hoosiers Love Their Basketball
The return of NBA and college basketball is a big reason why Indiana was able to post some impressive handle numbers in November. Indiana is a state that loves basketball, and the total handle for that sport nearly equaled football.
The total sports betting handle for football was $137 million, and basketball was next on the list at $124 million. Parlay betting actually accounted for $126 million in handle, but those bets were filled with many different sports.
With both basketball and football continuing for the next few months, Indiana should continue to see a jump in both handle and revenue.
FanDuel Crushing Competition, Bettors
While it was a great month for all of the online sportsbooks in Indiana, FanDuel continues to set a pace that is simply hard to match. FanDuel posted a total sports betting handle of $141 million for the month, and set a new monthly revenue record with $18.3 million.
The national average in terms of hold rate is still under eight percent nationwide, but FanDuel Sportsbook won over 13% of the wagers placed in November. FanDuel continues to be one of the most popular betting options, but the operator has won over 11 percent of the bets for five straight months.
DraftKings moved slightly past FanDuel in terms of total handle as it brought in over $143 million in wagers. BetMGM continued to find itself in third place in terms of handle and revenue, and there is a large gap between the top three and the rest of the competition.