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.
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