Northwest Indiana Business Magazine

Northwest Indiana’s Leading Regional Business Magazine Since 1991

  • Home
  • Industries
    • Banking
    • Education
    • Health & Wellness
    • Manufacturing & Technology
    • Professional Services
    • Real Estate & Building
    • Small Business & Entrepreneurship
    • Tourism & Recreation
    • Transportation & Logistics
  • Community
    • Around the Region
    • Business News Bits
    • Economic Development
    • Events
    • Leadership
    • Making a Difference
  • Lifestyle
    • Arts & Entertainment
    • Sports
  • Opinion
    • Viewpoint
    • Publisher’s Note
  • Jobs
  • Webinars
  • Magazine
    • Current Issue
    • Past Issues Archive
    • Advertise With Us
    • Business News eNewsletter
    • Subscriptions and Renewals
    • Contributing Writers
    • Editorial and Business Advisory Board
    • Magazine Team
  • About
    • Contact
    • Advertise With Us
    • Subscriptions and Renewals
    • Our History
    • Privacy
    • Terms
  • Log In
You are here: Home / Community / Business News Bits / Indiana sportsbooks pull in $463 million in wagers in December

Indiana sportsbooks pull in $463 million in wagers in December

January 14, 2022 – By Larry Avila Leave a Comment

The Book at Horseshoe Casino
The Book, the sports betting area of the Horseshoe Casino in Hammond, has benefitted from its proximity to Chicago. (Photo provided by the Horseshoe Casino)

Indiana’s online and retail sportsbooks closed 2021 producing more than $25 million in revenue on more than $460 million in wagering in December.

PlayIndiana.com reported December’s handle fell short of Indiana’s record amount in November. For the year, the state’s sports book pulled in nearly $4 billion in wagers.

“This fall has been so impressive for sportsbooks that it almost seems like anything other than a record month is a surprise,” said Jake Garza, an analyst for PlayIndiana.com. “In context, sportsbooks remained near all-time highs for wagering and revenue, continuing a remarkable four-month stretch in which wagering was up 73.8% year over year.”

Indiana’s sportsbooks generated $463 million in wagers in December, up 47.9% from $313.1 million in December 2020, according PlayIndiana.com’s analysis of state gaming data. Wagering fell short of the record $463.7 million handle produced in November, as betting volume slowed to $14.9 million per day over the 31 days of December from $15.5 million per day in November.

Sportsbooks won $26 million in December, up 18.2% from $22 million in December 2020 but was short of November’s record $47.1 million. The month’s win produced $25.8 million in taxable revenue, yielding $2.5 million in state taxes.

December was the final chapter in an explosive year for Indiana’s sportsbooks, PlayIndiana.com said. In 2021, Indiana sportsbooks generated:

  • $3.8 billion in online and retail wagers, up 116.4% from $1.8 billion in 2020. That will likely place Indiana seventh in betting volume among legal sports betting jurisdictions in the U.S.
  • $307.6 million in gross revenue, up 125.5% over $136.4 million in 2020.
  • $3.4 billion in online wagers alone, up 132.0% from $1.5 billion in 2020.
  • $29.0 million in state taxes, up 120.6% over $13.2 million in 2020.

 “2021 should be remembered as the year in which people fully embraced online sports betting, especially after a tumultuous 2020,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIndiana.com. “As impressive as the year was, though, the market is not done growing.”

He said Indiana sportsbooks are still reaching new customers and operators are offering increasingly innovative products.

“Meanwhile, Hoosiers are becoming more comfortable with sports betting in general, and more open to less conventional forms of wagering such as in-game betting,” Ramsey said.

Online wagering generated $422.8 million, or 91.3%, of December’s handle. The remaining $40.2 million in wagers were made at the state’s retail sportsbooks.

  • Author
  • Recent Posts
Larry Avila
Follow me
Larry Avila
Larry is an award-winning journalist with more than 25 years of experience working with daily newspapers and business-to-business publications around the Midwest. Avila is a Michigan native and a graduate of Central Michigan University.
Larry Avila
Follow me
Latest posts by Larry Avila (see all)
  • Holcomb appoints executive director for Governor’s Workforce Cabinet - May 19, 2022
  • South Bend – Elkhart Regional Partnership names new president and CEO - May 18, 2022
  • Indiana sports betting cools in April - May 18, 2022

Filed Under: Business News Bits, Gaming/Gambling Tagged With: Around the Region, December 2021 sports betting, Indiana sportsbooks, Playindiana.com

Leave a Reply Cancel reply

You must be logged in to post a comment.

Print Issue

April-May 2022

April-May 2022 issue

Magazine Articles

In this issue

Around the Region

2022 Best of Business

For the good of everyone

New venues take spotlight

LEED-ing the way to future

Green new future

Record-breaking housing boom

Catalyst for tasty change

Forging path into Indiana

True to its active mission

Viewpoint: Indiana’s future a sure bet

Categories

Archives

  • Home
  • Current Issue
  • Business News Bits
  • Archive
  • Advertise With Us
  • Subscriptions and Renewals
  • Privacy
  • Terms
  • Contact

© Copyright 1991-2022 Linker Media Group, Inc · All Rights Reserved

Posting....