Indiana retail and online sportsbooks brought in $160 million in bets in December.
December’s total pushed the state’s overall total to more than $430 million in bets since the first wager was accepted in September, said PlayIndiana, which operates Playindiana.com.
“Indiana’s ascent to one of the largest sports betting markets in the country has been impressive by most any measure,” said Dustin Gouker, lead analyst for PlayIndiana. “The question for 2020 is whether Indiana can sustain its rate of expansion, especially as neighboring states become more likely to legalize sports betting. That has already happened in Michigan, which could take a bite out of the handle at some of northern Indiana’s retail sportsbooks.”
In December, the Indiana’s retail and online sportsbooks generated $161.8 million in bets, up 10% from $147.3 million in November, according to PlayIndiana. December produced $12 million in adjusted gross revenue, up 29% from $9.3 million in November, which resulted in $1.1 million in tax revenues for the state.
Indiana sportsbooks have now generated $433.4 million in bets and $42.7 million in revenue since it became legalized in September and has become the fourth-largest sports betting marketing in the country, PlayIndiana said.
January should bring more growth. Football betting has accounted for $178.6 million since launch and $59.1 million in bets in December, and that will likely surge with the NFL Playoffs, PlayIndiana said. Basketball, which has tallied $82.2 million since launch and $42.3 million in December, should grow as college basketball enters conference season and the NBA season heats up.
The relatively rapid growth of Indiana can be attributed to the adoption of online sports betting earlier than states such as Pennsylvania, PlayIndiana said. In Indiana, $110.6 million of December’s bets were made online representing 69.5% of the state’s total handle, up from 65% of the November handle.
BetAmerica, operating under the Rising Star Casino license, became Indiana’s fourth online sportsbook when it launched in late December, PlayIndiana said. DraftKings, which operates under the Ameristar Casino license, led the online market in December, with $66.7 million in bets, up from $64.1 million in November, and generated $5 million in gross receipts, up from $4.3 million.
DraftKings was followed by FanDuel/Blue Chip Casino, which generated a $36 million handle in December, up from $23.7 million, and a $2.2 million win.
The top retail sportsbook in Indiana continues to be Horseshoe Hammond, which benefits from its proximity to Chicago, PlayIndiana said. The market leader generated $13.4 million in December, up from $13 million in November. Those bets generated $1.1 million in gross receipts, up from $800,208.
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