Indiana increases sports betting revenue in October
The sports betting revenue in Indiana posted a 161% increase in October when compared to the previous month, the local commission said.
US.- The Indiana Gaming Commission released the official figures from sports betting operations during October in the state. The launch of online sports betting and increased visitation from Chicago bettors have helped Indiana achieve impressive results in October.
The retail and online sportsbooks in Indiana posted a combined US$91.7 million in revenue in October. This figure represents a 161% increase from the US$35.2 million generated in September.
Adjusted gross revenue for sportsbooks in the state totalled US$11.5 million, which is a 34% increase from US$8.6 million the previous month. Approximately 45% of that number comes from betting on the NFL, the local commission said.
BetRivers Sportsbook, DraftKings and FanDuel took in US$48 million in wagers, totalling 52% of Indiana’s total handle. DraftKings was the leading operator with US$39.4 million in handle, followed by BetRivers’ US$6.3 million and FanDuel’s U$2.4 million.
“Indiana is quickly becoming a star among legal sports betting markets in the US,” stated Dustin Gouker, lead analyst for PlayIndiana.com. “Indiana is so far ahead of its neighbours in Illinois, Ohio, Kentucky, and Michigan, that the Hoosier State is well on its way to establishing itself as the gambling capital of the Midwest.
“Online sports betting is a key accelerator in the growth of any legal sports betting jurisdiction that offers it. But Indiana’s potential online market is particularly substantial. Indiana does not require out-of-state bettors to register in person at a retail sportsbook, so out-of-state residents simply need to cross the state line to place a bet.”
Chicago’s contribution
“Two of the top retail sportsbooks in the state are near Chicago, and the second largest is just over the border from Cincinnati. That shows just how much out-of-state money is flowing into Indiana sportsbooks,” said Gouker.
