Keep The Records Coming! Indiana Sports Betting Handle Tops $1.7 Billion In 2020

In December 2020, Indiana concluded the year with a sports betting handle of $313 million.

That number marked a record in Indiana for the fourth consecutive month.

Once again, football took the lead with its $101 million earnings. Although we are nearing the end of the football season, there is still plenty of excitement left.

Every year, the College Football Playoff and NFL Playoffs generate a huge amount of betting interest. Thus, it is anticipated that football will remain as the most preferred betting sport until the end of January.

In December, Indiana’s handle generated over $2.3 million in taxes for the state. This resulted in $24.3 million in revenue for the state’s sportsbooks.

Sports Betting Handle for Indiana in December 2020

Here are the sports betting figures for Indiana in December 2020, broken down quickly:

Licensee	Online Brand(s)	Total Handle	Online Handle	Retail Handle	Gross Revenue	State Tax
Ameristar East Chicago	DraftKings | theScore Bet	$125,036,349	$115,522,028	$9,514,321	$6,888,872	$654,427
Blue Chip	FanDuel	$80,063,263	$78,155,241	$1,908,022	$5,096,428	$691,145
Belterra	BetMGM	$45,717,450	$40,983,964	$4,733,487	$2,312,517	$219,691
Hollywood Lawrenceburg	PointsBet	$23,407,102	$11,396,776	$12,010,327	$3,322,399	$315,369
French Lick	BetRivers	$11,614,525	$10,606,542	$1,007,983	$756,505	$71,884
Horseshoe Hammond	Caesars | Unibet	$9,283,839	$2,038,927	$7,244,911	$1,212,209	$111,902
Tropicana Evansville	William Hill	$5,789,095	$4,159,818	$1,629,277	$916,927	$86,972
Harrah’s Hoosier Park		$4,897,505	$0	$4,897,505	$629,976	$57,564
Indiana Grand		$4,426,755	$0	$4,426,755	$680,967	$64,692
Caesars Southern Indiana		$2,554,968	$0	$2,554,968	$161,869	$15,396
Rising Star	BetAmerica	$321,622	$209,608	$112,013	$24,936	$3,431
Total		$313,112,473	$263,072,904	$50,039,569	$22,003,606	$2,292,472

Wild 2020 for Indiana sports betting

Now that we have the figures for December, we can fully comprehend the tumultuous year that Indiana had.

The first complete year of sports betting in the state was 2020, and it lived up to expectations.

Throughout the year, Hoosiers placed bets on sports exceeding $1.7 billion. This made Indiana one of the largest sports betting markets in the nation.

If it wasn’t for the pandemic, Indiana’s 2020 handle could have surpassed $2 billion.

In February, the Hoosier State set a record by accumulating a $187 million handle. However, over the subsequent four months, Indiana only managed to draw in $167 million in wagers.

The decline was not the best scenario, but it was a fact for all sports betting markets in the nation. In the absence of sports to gamble on, the figures were bound to suffer.

Once pro sports leagues across the country resumed their activities in July, things began to improve. From that point forward, it has been non-stop progress.

The betting industry in the US received a much-needed recovery boost with the commencement of the NFL and college football seasons, given that football is consistently the most betted on sport in the country.

The surge resulted in Indiana achieving record-high results for four consecutive months to end the year. With most things having returned to normal, the state is expected to maintain this momentum into 2021.

Retail betting is dominated by Penn National Gaming.

Unsurprisingly, Hollywood Casino Lawrenceburg hosted the most popular retail sportsbook in the state in December.

The sports betting staple in southern Indiana consistently dominates retail betting in the Hoosier State.

The $12 million worth of wagers in December was a significant increase from the $9 million second-place handle from Ameristar East Chicago.

This is excellent news for Penn National Gaming, the owner of both casinos, due to the impressive numbers.

Throughout 2020, Penn’s duo in Indiana almost generated a combined retail handle of $120 million. The only other company operating at this level is Caesars Entertainment, although its presence in Indiana significantly fluctuated over the year.

Caesars began 2020 with Harrah's Hoosier Park, Indiana Grand, and Caesars Southern Indiana under its management.

During its merger with Eldorado Resorts over the summer, the company incorporated Tropicana Evansville and Horseshoe Hammond into its portfolio.

The gaming commission, as a part of that merger, compelled Caesars to sell three of those properties.

Tropicana is now under the ownership of Twin River Holdings, while the Eastern Band of Cherokee Indians assumes control of Caesars Southern. Horseshoe Hammond is also set to change owners soon.

Although Caesars could technically contend for the title of Indiana’s top retail betting establishment, its revenue per location is not particularly impressive. Penn, on the other hand, consistently generates more income with fewer resources.

For instance, consider December.

Throughout the month, Penn’s two Indiana casinos amassed a $21 million handle. In contrast, Caesars, with its five retail casinos and three Winner’s Circle locations, only managed to bring in a total of $20 million in wagers.

The dominance of Penn in sports betting is set to persist into 2021, particularly as its two retail sportsbooks have recently taken on Barstool’s branding.

BetMGM emerges as a significant sportsbook in Indiana

In 2020, while Penn assumed control of the retail aspect, BetMGM emerged as the most significant development in Indiana’s online sportsbook market.

Even though DraftKings and FanDuel remain the dominant entities in the state, BetMGM successfully outperformed the remaining competitors. It can confidently be stated that the company has solidly claimed the third and last position on the online sportsbook podium in Indiana.

On Feb 25, BetMGM commenced operations in the Hoosier State. Over the subsequent months, it alternated positions in the rankings with PointsBet and BetRivers as each firm vied for the attention of the state’s gamblers.

In recent months, BetMGM has steadily attracted larger bet volumes than PointsBet and BetRivers combined.

BetMGM accumulated a $41 million handle solely in December. The sportsbook rankings’ fourth and fifth places only totaled $22 million.

Even though BetMGM still has a lot of ground to cover before it reaches the level of Indiana’s leading sportsbooks, it has successfully garnered the interest of Hoosiers in a manner that the bottom seven sportsbooks have only aspired to.

As BetMGM has solidified its position as the state’s third-most popular sportsbook, its popularity is expected to continue to rise throughout 2021.

2021 Expansion of Gambling in Indiana

While sports betting was the main attraction in 2020, the spotlight in 2021 will be on the growth of online gambling in Indiana.

Should the current legislative session progress favorably, Indiana gamblers might have an unprecedented range of options.

Sen. Jon Ford has proposed a new bill that could potentially legalize online casinos in Indiana. This would enable Hoosiers to enjoy games such as online poker and blackjack from the convenience of their own homes.

A new initiative is also being launched to permit video gaming terminals (VGTs) in bars and restaurants all over the state.

To put it differently, Indiana legislators must contemplate some significant new gambling alternatives.

While it’s easy to be enthusiastic about the potential options, it’s probable that one of those new gambling choices will need to be postponed.

In a conservative state like Indiana, any gambling expansion is typically a tough challenge. Legislators often take time to fully understand new wagering sectors, so the possibility of passing both in the current legislative session may be slim.

The success of gambling expansion in Indiana can be exemplified by its 2020 sports betting handle, which was worth $1.7 billion.

Even though Hoosiers may have to wait for the arrival of all the new advancements, the progress made in 2021 at least demonstrates that Indiana has its sights set on the future.