Indiana sets new handle and revenue records in November

The state of Indiana has set new records for sports betting revenue and handle for the month of November.

According to the latest figures from the Indiana Gaming Commission, bettors in the state wagered a record $463.7m on sporting events in November.

November’s handle marked a 0.6% month-on-month increase on the $461.1m wagered in October, the state’s previous handle record. Additionally, the latest figures represent an 84.4% increase on the $251.5m wagered on sports this time last year.

Indiana sportsbooks posted a taxable adjusted gross revenue of $47.7m for the month of November. This was up from the $27.7m generated in October and up from the $25.3m generated in November 2020.

November’s revenue also represents a new all-time high for the Hoosier State’s sports betting market, breaking the previous record of $33.3m from September 2021 by 43.3%.

When it comes to tax, operators in the state paid a combined $4.5m to the state of Indiana.

How did the online operators perform?

When it comes to individual sportsbook operators, DraftKings, which operates under the Ameristar Casino license, continued to dominate the market in November.

Bettors in the Hoosier State wagered $166.2m on sporting events via the DraftKings sportsbook, leaving the operator with $12.6m in revenue for the month.

FanDuel, which operates under the Blue Chip Casino’s license, was the second most popular sportsbook in Indiana in November after processing $109.8m in bets. Although FanDuel was the second-most popular sportsbook, it was the most profitable with $14.6m in revenue for the month.

BetMGM, which operates in partnership with the Belterra Casino, trailed in a distant third place with $46.3m in wagers and $4.5m in revenue for the month.

William Hill’s sportsbook, which was recently rebranded to Caesars Sportsbook followed with $43.9m in bets and just under $3m in revenue.

Penn National Gaming’s Barstool Sportsbook took the fifth spot after generating $1.6m in revenue from $17.2m in wagers.

BetRivers took $13.6m in bets and held onto $1.6m in revenue while PointsBet took $12.4m in bets and generated $962,701 in revenue.

None of the state’s other operators managed to pass the $10m handle mark in October.

What did people bet on?

With the NFL season in full swing, it should come as no surprise that football was the most popular sport to bet on in November.

According to the state report, Indiana bettors wagered $136.3m on football events in November.

Basketball followed as the second most popular sport to bet on, with sportsbooks taking $132m in basketball wagers.

Baseball, the only other individual sport mentioned in the report, came in a distant third place with just $1.4m in bets.

Parlay bets made up just under $120m of the state’s total handle for the month of November.

Bettors in the Hoosier State also wagered a combined $69m on sporting events in the “other” category.

Sports betting in Indiana

The state of Indiana legalized sports betting in 2019 and launched the activity in September 2019.

The state is now home to 10 online sportsbooks and multiple land-based sportsbook facilities.

The most recent sports betting news out of Indiana came in October when Penn National Gaming was forced to pay fines for Barstool Sportsbook. The online sports betting brand was issued a fine over a “questionable” video posted on the social media site TikTok. Penn was required to pay a settlement fee of $10,000.