Wagering Options Galore Help Bolster Indiana’s October Betting Revenue

Throughout October, Hoosiers placed sports bets worth over $230 million.

Indiana set a record-high in wagers for the second consecutive month in October, a significant increase from September’s total of $207 million.

Until the NBA returns in December, football solely owns the stage, which isn’t necessarily a bad thing.

Hoosiers enjoy wagering on football, with an abundance of betting choices available from both the NFL and college games.

Gamblers in Indiana wagered $84 million on football in October, a figure likely inflated by the return of the Big Ten.

In total, the October handle from Indiana generated $2 million in tax revenue for the state, contributing to the overall revenue from sports betting in Indiana.

Sports betting handle of Indiana in October 2020

Here’s an analysis of the sports betting figures in Indiana for October 2020:

Licensee	Online Brand(s)	Total Handle	Online Handle	Retail Handle	Gross Revenue	State Tax
Ameristar East Chicago	DraftKings | theScore Bet	$97,473,595	$91,936,937	$5,536,659	$9,596,062	$750,191
Blue Chip	FanDuel	$65,619,083	$63,589,991	$2,029,093	$7,319,108	$600,581
Belterra	BetMGM	$20,928,487	$20,069,843	$858,645	$1,898,207	$179,538
Hollywood Lawrenceburg	PointsBet	$18,549,115	$7,067,247	$11,481,868	$2,730,095	$185,420
French Lick	BetRivers	$8,404,251	$7,801,222	$603,028	$712,096	$63,679
Horseshoe Hammond	Caesars | Unibet	$6,444,361	$2,227,195	$4,217,165	$875,613	$58,378
Indiana Grand		$4,481,740	$0	$4,481,740	$657,753	$60,398
Harrah’s Hoosier Park		$4,139,689	$0	$4,139,689	$562,522	$45,311
Caesars Southern Indiana		$2,401,967	$0	$2,401,967	$428,886	$34,467
Tropicana Evansville	William Hill	$2,194,555	$149,897	$2,044,658	$293,334	$25,233
Rising Star	BetAmerica	$295,408	$189,108	$106,300	$21,138	$2,153
Total		$230,932,251	$193,031,440	$37,900,810	$25,094,814	$2,005,347

William Hill finally launches

In October, Indiana finally secured its 10th online sportsbook as William Hill pushed the state into the realm of double digits.

The launch on Oct. 28 was a long-awaited event for the British company.

William Hill had plans to launch in the Hoosier State in 2019, but the sportsbook did not actually enter the market until recently.

Despite only accepting bets for a few days in October, the company still managed to accumulate a handle of $150,000.

William Hill runs the retail sportsbook at Tropicana Evansville, a Caesars property, and also holds its online sportsbook license there.

Comparatively, Caesars Online Sportsbook only garnered $8,000 during its May launch. Despite having nine less days to accept bets, William Hill still managed to surpass that number.

One of the reasons why Caesars Entertainment is considering the acquisition of William Hill is the company’s notable success across the US.

The sportsbook might finally start accepting bets in the Hoosier State, but potential problems could be looming.

Twin River Holdings recently purchased Tropicana Evansville.

If Twin River decides not to retain William Hill as one of its online partners, then the sportsbook will be forced to suspend its business in Indiana.

It is still uncertain if that will occur, so, for the time being, Indiana will maintain its number of active online betting apps in the tens.

DraftKings is nearing a handle of $100 million.

Indiana’s leading dog is nearing a significant milestone.

No online sportsbook in Indiana has ever accumulated $100 million in wagers in a single month. However, DraftKings is poised to be the first to achieve this.

During October, the sportsbook accumulated approximately $90.5 million in bets.

FanDuel is the second most popular book in the state, however, its handle of $63 million is still over $17 million less than the first place.

If this pace continues, DraftKings could surpass the $100 million mark in just a few months.

The company claimed a staggering 39% of Indiana’s total handle in October. This is quite an impressive market share, especially when taking into account that it is in competition with all of the state’s retail casinos and nine other betting apps.

If things continue at this pace, the Hoosier State could potentially have a record-breaking month for the third consecutive time in November.

As the handle of Indiana continues to increase, the monthly figures of DraftKings will also rise.

During October, BetMGM achieved a milestone by amassing over $20 million in wagers for the first time on its sportsbook.

After several months of outperforming BetRivers and PointsBet, BetMGM has now solidly established itself as the third leading sportsbook in the state.

Numerous sports betting options in Indiana

In terms of sports betting handle, Indiana just experienced its two most successful months ever.

Business has been thriving since sports resumed, with a staggering $230 million and $207 million revenue in October and September respectively.

The growth, in part, has been attributed to the vast number of betting options available.

There was a day when the following leagues were all simultaneously playing games:

• MLB
• NBA
• NHL
• NFL
• WNBA
• MLB
• MLS

That particular situation has concluded, yet numerous betting opportunities remain, courtesy of the Indiana Gaming Commission’s management.

Since sports wagering began in the state, the commission has been introducing a variety of new betting options.

At any given moment, there are dozens of betting options to choose from. You can bet on anything, ranging from table tennis to Halloween candy eating contests.

This has aided Indiana’s growth since last year, but the rest of the nation is beginning to keep pace.

In terms of handle in September, Colorado surpassed the Hoosier State. The new market overtook Indiana, which has been accepting bets since August 2019, in just five months.

In the upcoming months, Illinois is likely to follow suit.

Despite possibly declining slightly in the national rankings, Indiana still holds its position as one of the largest markets in the country.

In order to maintain competitiveness as neighboring states introduce sports betting, Indiana will incorporate fun and unique betting options.

As Indiana’s market continues to evolve, we’ll witness numerous sportsbook launches and a lot of betting options.

2021 Online Casinos in Indiana

While sports betting might be flourishing in Indiana, the state still lacks a regulated online casino market.

If Sen. Jon Ford has his way, that might be changing soon.

The primary focus for Ford during Indiana’s first 2021 legislative session is advocating for online casinos. This session, which will take place from January to April, provides an ample opportunity to accomplish this goal.

The Indiana Legislative Services Commission has already received the draft bill.

So why now?

Ford is presenting the bill to assist Indiana’s casino industry in rebounding from the impacts of the COVID-19 shutdowns.

Also, online casinos are significantly more profitable than sports betting.

While $230 million in sports bets made in October might seem substantial, it did not generate significant tax revenue for Indiana. The state only collected $2 million in taxes from last month’s total.

Ford estimates that taxes from online gaming could generate $45-60 million annually.

Indiana would undoubtedly appreciate having that substantial amount of money on their records.

Ford intends to begin advocating for the bill in December, therefore, things will start progressing rapidly.

Should everything proceed smoothly, Indiana online casinos could potentially become a new ally for the lottery, casinos, horse racing, and sports betting.

This is excellent news for gamblers in Indiana as they could soon have more options than ever before.