Sportsbooks in the state of Indiana set a new record for sports betting handle in October but reported a month-on-month drop in revenue.
According to the latest figures from the Indiana Gaming Commission bettors in the state wafered $461.1m on sporting events in October 2021.
October’s handle marked a 29.7% increase on the previous handle record of $355.4m that was set in September.
While sports betting handle hit a new record in October, revenue dipped month-on-month.
Sportsbooks in Indiana managed to generate $27.7m in revenue for the month of October, representing an 18.3% month-on-month drop from the $33.9m generated the previous month.
While revenue was down month-on-month, sportsbook revenue was up year-on-year after sportsbooks in Indiana generated $21.2m in October 2020.
In terms of tax, sportsbooks paid a total of $2.6m to the state of Indiana in October.
How did Indiana’s sportsbooks perform?
When it comes to individual sportsbook operators, DraftKings, which operates under the Ameristar Casino license, was the most popular sportsbook in October. Bettors in the Hoosier State wagered $150.7m on sporting events via DraftKings, leaving the operator with $7.8m in revenue.
FanDuel, which operates in partnership with Blue Chip Casino, came in second place with $113.3m in wagers for the month. Despite coming in second place, the operator generated $9.2m in gross revenue, making it the most profitable sportsbook in October.
BetMGM, which operates under Belterra Casino’s license, came in a distant third place with $47.7m in wagers and $3.5m in revenue.
William Hill’s sportsbook, which was recently rebranded to Caesars Sportsbook followed with $40.2m in bets and $435,658 in revenue.
Penn National Gaming’s Barstool Sportsbook took the fifth spot after generating $689,883 in revenue from $21.7m in wagers.
BetRivers took $13.6m in bets and held onto $767,393 in revenue while PointsBet took $12.2m in bets and generated $819,702 in revenue.
None of the state’s other operators managed to pass the $10m handle mark in October.
What did people bet on?
Football was the most popular sport to bet on in October, likely due to the return of the professional football season the previous month. Bettors in the state wagered $175,8m on football events in October.
Parlay bets accounted for $127.6m of the state’s total handle in October, making it the second-best market for operators in Indiana.
Indiana bettors wagered $53.5m on basketball events and $34.8m on baseball events in October.
Bettors in the state wagered a combined $67.1m on sports in the “other” category in October.
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 last month 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.