Indiana Posts Impressive Sports Betting Numbers
Sportsbooks in the state of Indiana had a huge month of September, according to a recent report released by the Indiana Gaming Commission. The total handle was expected to climb now that football has returned, but the most impressive figure came when looking at the monthly revenue.
Indiana sportsbooks set a new revenue record in the month of September, as the total came in at $51.2 million. This shattered the previous record of $47.7 million that was set in November 2021, and it happened thanks to a terrific win rate from the sportsbooks.
Sportsbooks in the state won 13.4% of the wagers placed in September, and that’s easily a record, except for the first month when all of the betting was done in person. This huge jump in the monthly revenue allowed the state to collect $4.9 million in tax revenue.
It has been a great year for the sports betting industry in the state of Indiana as the sportsbooks have brought in over $24 million in tax revenue. This has Indiana more than $5 million ahead of the pace set in 2021, and that gap should continue to grow in the coming months.
Retail sportsbooks in Indiana helped contribute to the impressive figures also, as those sportsbooks won over 23% of all wagers placed. Online betting still accounts for over 90% of all wagers, but retail sports betting brought in $7 million in revenue.
Joining An Exclusive Group
The total sports betting handle for the month was $382.5 million, and that was a significant jump of nearly 61% from August. It was a much smaller increase in the year-over-year comparison as the total handle was only 7.6% percent higher in September 2022.
Indiana is now over the $9 billion mark in total sports betting handle since the industry first launched. This state is now just the sixth state to get to $9 billion, and it joined some elite company when it got to that point.
Football was the most popular sport to wager on in September, as it made up $153.9 million of the total handle. Indiana is a state that loves basketball, and the return of the NBA and March Madness will help boost the numbers even more.
DraftKings, FanDuel Set the Tone
There is a group of five online sports betting operators that are clearly ahead of the rest of the pack. Out of those five operators, it is DraftKings and FanDuel that continue to see the most action.
FanDuel Sportsbook had an astonishing total revenue of $16.6 million in the month of September, and that set a new record. DraftKings Sportsbook led the way in terms of monthly handle as it took in $131.5 million in bets.
Barstool, BetMGM, and Caesars continue to do well in this state, but they can’t keep up with the top two options.