Indiana sports betting handle hits $500.1m in January

Indiana is one of the few US states to generate more than $500m in wagers over a single month.

US.- Indiana sportsbooks generated more than $500m in wagers in January, according to PlayIndiana, which tracks the state’s gaming industry. The state joins New York, New Jersey, Nevada, Illinois, Pennsylvania, and Michigan as the only states to generate more than $500m in wagers in a single month.

Indiana sportsbooks registered $500.1m in wagers, an increase of 8 per cent from December’s $463m and of 43.6 per cent year-on-year. Of that total, $458.3m came from online wagering. Last month’s handle also topped the previous state record of $463.7m set in November 2021.

Online bets amounted to more than $458m. In terms of online sportsbooks, DraftKings led the way with $162.1m in January wagers, producing $9.5m in revenue. FanDuel followed with $127.2m in bets and $7.6m in revenue. Football and basketball were the most bet-on activities, seeing $118.3m and $192.4m in wagers respectively. The state has now surpassed the $500m in revenue milestone.

Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIndiana.com, said: “Indiana continues to punch above its weight class, remaining a model of success and a role model for other states to follow.

“As an example, Ohio regulators have drafted a particularly strong framework for that state’s impending launch of sports betting, and it is no coincidence that it draws upon the blueprint Indiana put together years ago.”

Jake Garza, the lead analyst for PlayIndiana.com, said: “Sportsbooks benefited greatly from the extra week of regular-season games, and the expanded NFL playoffs were a winner for sportsbooks.

“The month will likely be the highwater mark for the foreseeable future, unless the NCAA Tournament can draw comparably huge numbers, too. Regardless, what a football season it has been.”

See also: Indiana sportsbooks set third consecutive monthly betting record