Indiana sports betting handle reaches $452.3m in November

Indiana’s sports betting handle was down 2.5 per cent year-on-year.

US.- Indiana’s sports betting handle for November was $452.3m. That’s 1.3 per cent higher than October’s $446.2m but down 2.5 per cent year-on-year. Indiana is the sixth state to report a lifetime sports betting handle of more than $10bn.

According to the Indiana Gaming Commission, operators pulled in $39.9m in legal sports betting revenue. Sportsbooks saw an 8.8 per cent hold rate. The state received $3.8m in taxes, taking the 2022 total to over $32.7m. That’s nearly $6.1m ahead of last year’s pace.

Football, both college and NFL, was the most popular sport to bet on, taking $137.6m. Parlays were second at $126.5m, followed by basketball ($124.6m), “other sports” ($59.3m) and baseball ($3.7m).

For the third month, FanDuel bettered its own Indiana record for monthly revenue, this time reaching more than $18.3m thanks to a 13 per cent win rate on nearly $141m wagered. DraftKings again took a $143.8m handle, but its 6.7 per cent win rate was barely over that of FanDuel, resulting in $9.6m in revenue. BetMGM took $44.4m in bets and collected $4.9m in winnings. 

Casinos in Indiana

Indiana’s ten casinos and two racinos reported $196m in gaming revenue for November, according to the Indiana Gaming Commission. The figure was down 5.5 per cent compared to October’s $207.6m but up slightly from $195m in November 2021. 

Taxable adjusted revenue after free play and other deductions totalled $179m, down by 4 per cent versus $189.2m in October. The state levied taxes on close to $184.4m in adjusted revenue, which was 2.6 per cent lower than in October. The wagering and supplemental taxes totalled $50.3m, according to the ICG.