Indiana Records $500 Million in Sports Betting Handle for January 2022

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Indiana’s legal sports betting industry is off to a fast start this year as it broke the $ 500 million barrier for the first time ever.

According to a report from the Indiana Gaming Commission, the state’s brick and mortar sportsbooks and mobile sports wagering operators took a total of $500.1 million in bets last month, breaking the previous record set in November 2021 by $36.4 million. That monthly handle translated to $29.3 million in sportsbook revenues and more than $3.3 million in state taxes.

For the fiscal year starting in July, Indiana has reported a total of $2.63 billion in total betting handle. During that span, sportsbooks have earned an adjusted gaming revenue of $206.4 million while the state has received a total of $19.4 million in taxes.

NFL and Basketball Boosted the Total

The NFL’s extra regular season week and expanded playoff format helped boot the Hoosier State’s January numbers with a total of $118.2 million in betting handle. However, bets on professional and college basketball topped the list with a total of $192.4 million in total bets taken.

With the Super Bowl happening last February 13th and the Indiana sports betting market considerably bigger than ever, analysts believe that the February 2022 figures will even do better, despite the fact that the February 2021 football betting handle was only $18.2 million.

Mobile Sports Betting Continues to Lead the Way

The Indiana Gaming Commission data also showed that 93% of the total January 2022 betting handle or $465.1 million were wagered online with DraftKings as the top online sports betting operator, generating $159.8 million in bets during January 2022.

The DK Sportsbook took $9.5 million in revenues, also the highest in the state while FanDuel followed with an AGR of $ 5 million and total handle of $126.4 million. Caesars Sportsbook generated a total of $73 million in bets, including $59.4 million which were placed online. Caesars had a monthly revenue of $3.9 million, which included $1.4 million from online bets.

Indiana Sets New Sports Betting Records for the Month of September

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The Indiana Gaming Commission revealed on Tuesday that the Hoosier State set new all-time highs in sports betting handle and revenue for the month of September 2021.

According to the IGC, legal Indiana sports betting amassed a total betting handle of more than $355.4 million, eclipsing the previous standard of $348.2 million which was recorded in January 2021. A new record of $33.9M in taxable adjusted gaming revenue for the month of September was also reported.

Second Straight Month of Positive Numbers

With those figures, Indiana has recoded its second straight month of positive numbers. Hoosier State sports betting saw a 10.9% increase in August. It followed that up with a massive 64.8% increase from the August numbers which the gaming agency attributed to the start of the 2021 NFL season.

The IGC expects an even larger figure for October 2021 with the NFL season in full swing. MLB betting is also expected to kick into high gear with the playoffs underway. Likewise, the NBA season is set to begin this month, with the Indiana Pacers making their season debut on October 20 in Charlotte. The Pacers play their first home game against the Miami Heat on October 23.

Online Sports Betting  Also Sets a Record

The September 2021 online betting handle of $326.6 million also broke the January 2021 record of $303 million. Last month’s mobile betting total was up 63.5% from the previous month total of $199.7 million. Compared with the September 2020 figures of $178.9 million, the latest month’s results was 82.5% better.

As a result, the State received a total of $3.2M in taxes, marking the first time that it has gone past the $3 million mark since legal Indiana sports betting launched in September 2019. A total of $19.5 million in taxes have been paid this year which represents more than half of the total $36.6 million remitted since its launch.