Indiana sportsbooks set third consecutive monthly betting record

Online and retail sportsbooks generated $463.7m in wagers in November. Gross revenue reached $47.1m.

US.- Indiana sportsbooks set a third consecutive monthly record handle in November. Online and retail sportsbooks generated $463.7m in wagers, up 84.4 per cent from $251.4m in November 2020. In October, the sports betting handle was $461.1m.

An average of $15.5m per day was wagered over the 30 days of November, up from $14.9m per day over 31 days in October. November’s gross revenue came in at $47.1m, beating the previous record of $33.3m set in September. Revenue was up 86.7 per cent from $25.3m in November 2020 and up 71.2 per cent from $27.8m in October.

November’s win created a record $47.7m in taxable revenue. That yielded $4.5m in state taxes.

Indiana’s sportsbooks have reported $419.2m in revenue on $3.4bn wagers so far this year, crossing the $3bn wagering mark. Sportsbooks are on pace to more than double the $1.8bn in wagers and $137.4m in revenue generated in 2020.

Online betting generated $422.9m, or 91.2 per cent of November’s handle. DraftKings handled $166.2m in bets. FanDuel was second in the state with $109.8m in online wagering.

Jake Garza, an analyst for PlayIndiana.com said: “Basketball betting, both college and professional, is more important in Indiana than almost every other legal sports betting market in the US.

“Indiana’s best months are typically when college basketball and the NBA are in full stride, and the NFL is still in play. And with Purdue among the nation’s best and Indiana off to a good start, bettors are particularly incentivized this year to bet on college basketball.”

Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIndiana.com added: “Obviously, 2020 was an unusual year, but Indiana’s year-over-year growth has been staggering so far. Historically, December and January have been the highest-volume months of the football season in the state. So, the best months are likely still ahead, too.”

See also: Indiana Horse Racing Commission approves 2022 racing dates