Indiana Sports Betting Reaches New Record Revenue in December
LISTEN TO THIS ARTICLE:In December, Indiana set a new monthly record in adjusted gross revenue of $50.6 million. This figure narrowly surpassed the previous high of $50.5 million set in September 2022.
Notably, the December figure represented a significant increase of 18.5% from the $42.7 million recorded in the same month in 2022. Furthermore, this amount showed a substantial jump of 64.8% from the $30.7 million posted in November 2023.
Close to a New Handle Record
In terms of total handle, Indiana was close to setting another record. Punters in the state wagered $503.1 million in December, marking it as the second-largest amount since the legal market launched September 2019.
This figure was 16.6% higher than the $431.4 million bet in December 2022 and just 2.1% shy of the all-time high of $513.7 million set in November 2023.
Basketball continued to be the most popular sport for bettors in Indiana, with $133.1 million in bets, which is no great surprise given that the state is home to both the NBA’s Indiana Pacers and the Indiana Pacers of the WNBA. American football followed closely with $118.1 million in bets, and $133,791 was placed on baseball. Other sports attracted $45.7 million in bets, and parlay betting accounted for $205.7 million.
Intense Competition amongst Bookmakers
The competition for the top spot in Indiana’s betting market was intense in December. Ameristar Casino, in partnership with DraftKings, reclaimed its leading position by generating $19.3 million in revenue from a handle of $179.8 million.
Close behind were Blue Chip Casino and FanDuel, which had led in November. They reported $18.1 million in revenue from a $171.8 million handle. Belterra Casino, another FanDuel partner, maintained its third position with $3.8 million in revenue from $34.4 million in bets. Additionally, it was reported that the state made $4.8 million in tax from legal sports betting during December.
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