Indiana sports wagers hit $1.2bn in first 12 months

The first year of legal sports betting generated around $9m in tax revenue for the state.

US.- The state of Indiana took $1.2bn in wagers in the first twelve months of legal sports betting, generating around $9m in taxes for the state.

The handle for August was the third largest recorded yet, as major sports resumed. The month saw $169 million in wagers, which represents a 47.7 per cent increase since July.

After coronavirus suspensions, Major League Baseball returned on July 24, followed by basketball on August 1.

The biggest sport for betting in the state in August was basketball, which produced $55.2 million in wagers.

Dustin Gouker, an analyst at PlayIndiana.com, said: “A rebound was inevitable with such an active sports schedule in August, but seeing such an active month is awfully welcome news for Indiana’s sports betting industry.

“August’s results are a clear signal that we are turning the page on its darkest days. The state’s status among legal jurisdictions is relatively safe for now. But Indiana also faces some headwinds, including increased competition in Illinois and Michigan.

“The positive attributes of Indiana’s market never went away while the sports world ground to a halt. Even as competition grows, Hoosier State sportsbooks will remain popular so long as the sports schedule stays active.”

The state of Indiana is currently working on a bill to legalise igaming, which is expected to grant 13 gambling sites the opportunity to apply for licences.