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.