Sports betting surges in Indiana

Jake Graves December 15, 2023

The US state of Indiana has set a new monthly sports betting record with $513.7 million spent in the month of November. Previously the record stood at $500.1 million set in January 2022, now surpassed by 2.7 percent. This also marks a year-on-year monthly increase of 13,6 percent from $452.3m in November 2022 and 19.6% higher than $429.7m in the previous month of this year, October 2023.

In terms of taxable adjusted gross revenue, however, this only reached $30.7 million in Indiana during the past month, 23.3 percent behind the $40 million compared to the monthly year-on-year figures from 2022, and 32.1 percent behind October 2023’s $45.2 million haul.

Sports breakdown

Basketball leads the field with $145.7 million being spent on wagers, this figure benefitted greatly from the start of the new NBA season in late October. This was closely followed by American football which drew bets to the cumulative value of $136.9 million. Baseball was a long way off base in third, yet still drew $1.1 million in total wagers. A further $169.8 million was spent on parlay bets and $59.8 million on other sports.

Operator performance

In terms of market performance within the Hoosier State, Blue Chip Casino and FanDuel returned to the front of the pack with both sector leaders gaining $12.4 million in revenue from $176.3 million in bets over the course of the month.

They overtook Ameristar Casino and DraftKings who led in the previous month, slipping down to $10.5 million in revenue. Interestingly, however, players wagered more with this duo as the partnership yielded $190.5 million in monthly handle. Belterra Casino ranked third, also a FanDuel partner, making revenue of $1.9 million from $38.1 million in bets during November.

Through this surge of activity, the State of Indiana collected $2.9 million in sports betting tax revenue come the end of the month.

SiGMA Eurasia

Make sure you’re part of the action as SiGMA Eurasia returns in 2024! Join us in Dubai from February 25th to 27th for this premier conference and exhibition. Grab your tickets now and secure your spot at this industry-leading event!