Indiana Sports Betting: One Year Review
It also didn’t take the sports betting operators in the state to roll out and launch their mobile sports betting apps, as mobile betting was available in October 2019. The Indiana Gaming Commission regulates the sports betting industry in the state, and Indiana has become a huge player in the industry.
Indiana recently celebrated the first anniversary of launching sports betting, and it was a huge year for the state. In July, the state went over the $1 billion mark in total sports betting handle.
Indiana is not home to many professional sports teams, but the fans in the state are extremely passionate about sports, especially basketball. Now that the first year has come and gone, Indiana is hoping for an even better Year 2 as it continues to cement its place in a crowded and growing industry.
Big Names Kicked Things Off
When Indiana launched mobile sports betting in October 2019, three of the biggest names in the sports betting industry helped kick things off. DraftKings and BetRivers both launched mobile sports betting on Oct. 3, and they were joined by FanDuel on Oct. 26.
FanDuel and DraftKings also have a physical presence in the state of Indiana, which helped power the state in terms of retail sports betting. DraftKings operates a sportsbook at the Ameristar Casino, and FanDuel offers retail sports betting at a pair of casinos in the state.
New Operators in 2020
There have been five new operators that have joined the mobile sports betting industry in 2020, including theScore Bet, which just launched in September. These five pushed the grand total of mobile sportsbook apps up to nine, with at least two more operators expected to enter the market at some point.
PointsBet was one of the biggest names to enter the market in Indiana, and it wasted little time attracting customers. PointsBet used the NBA restart as a chance to feature several promotions on the Indiana Pacers.
Massive August Numbers
Indiana capped off its first full year of sports betting with an impressive month of August that showed that the industry has almost fully recovered from the COVID-19 pandemic. The state of Indiana had a total sports betting handle of more than $169 million, which was more than a 138 percent increase from July.
The state also brought in more than $9.8 million in revenue, and that was an increase of more than 47 percent from July. The one month record for sports betting handle was set in February 2020 when the state saw more than $187 million bets made.
Mobile sports betting brought in more than 85 percent of the total betting handle in August, and mobile betting has dominated the numbers since that part of the industry rolled out in October.
Now Midwest Competition
Indiana is expected to put up even bigger numbers in their second year in the industry, but they will face more competition in Year 2. The Midwest region of the United States has seen huge growth in the industry, and that will take some bettors away from the state.
Both Illinois and Michigan launched sports betting in 2020, and the state of Illinois will provide a huge threat to Indiana. Indiana has been able to lure bettors from the city of Chicago, but that will no longer be the case.
Indiana has secured its place in the industry, and other states in the Midwest envy what the Hoosier State has accomplished. Even though there is more competition, Indiana will continue putting up big numbers.