Indiana Sports Betting Handle Reaches Third-Straight Record Month

In November, Indiana broke another sports betting record.

The state recorded its third consecutive record month with $251 million worth of wagers in November.

While football still reigns supreme with its $113 million handle, college basketball is making a comeback to help enhance the figures.

In November, Hoosiers had a multitude of betting options to choose from with college football, the NFL, and college hoops all happening concurrently.

In November, Indiana’s sports betting handle produced over $2.4 million in tax revenue and earned the sportsbooks themselves a revenue of $25 million.

Sports betting handle of Indiana in November 2020

Here’s an overview of the sources of Indiana’s sports betting handle in November 2020:

Licensee	Online Brand(s)	Total Handle	Online Handle	Retail Handle	Gross Revenue	State Tax
Ameristar East Chicago	DraftKings | theScore Bet	$103,687,824	$97,370,965	$6,316,860	$8,381,938	$796,337
Blue Chip	FanDuel	$65,953,899	$64,191,496	$1,762,403	$8,088,747	$768,443
Belterra	BetMGM	$26,195,736	$25,326,955	$868,781	$2,277,932	$216,444
Hollywood Lawrenceburg	PointsBet	$21,509,522	$9,909,485	$11,600,037	$2,525,601	$240,284
French Lick	BetRivers	$10,945,519	$10,319,202	$626,317	$708,366	$64,576
Horseshoe Hammond	Caesars | Unibet	$7,281,136	$2,379,222	$4,901,914	$1,078,396	$106,067
Tropicana Evansville	William Hill	$5,530,411	$4,046,457	$1,483,954	$838,439	$79,637
Harrah’s Hoosier Park		$4,449,323	$0	$4,449,323	$495,091	$48,663
Indiana Grand		$3,623,587	$0	$3,623,587	$461,711	$47,748
Caesars Southern Indiana		$1,934,544	$0	$1,934,544	$359,724	$34,205
Rising Star	BetAmerica	$292,493	$144,130	$148,362	$39,696	$3,771
Total		$251,403,994	$213,687,912	$37,716,082	$25,255,641	$2,406,175

Sports betting reaches $1 billion among Hoosiers

In 2020 alone, residents of Indiana bet over $1 billion on sports.

We won’t have the precise figure until next month when December’s numbers are released, but the notable totals up until November provide a significant part of the story.

Throughout 2020, Hoosiers placed bets on sports totaling over $1.2 billion.

Indiana’s strong end of the year is partly responsible for that massive handle. The state achieved a record-breaking streak with three consecutive months from September to November.

The total 2020 handle of the state so far was over half accounted for by those three months, amounting to $689 million.

The fact that the Colts, Indiana Hoosiers, and Notre Dame Fighting Irish are all enjoying standout seasons this year is certainly a bonus.

The Colts are in a fight for the AFC South title against the Titans, the Hoosiers hold a position in the top-10 rankings, and Notre Dame is still without a loss.

Bettors remain engaged during seasons like those.

Although the fall months boosted business, the rest of the year also contributed significantly.

Until the pandemic caused upheaval, Indiana experienced a record sports betting month every month. The state was on track to surpass the $2 billion mark in 2020, but the millions of dollars lost in handle from March to July likely prevented this.

Indiana’s lifetime sports betting handle will surpass $2 billion next month regardless. It already stands at approximately $1.9 billion.

The robust figures clearly show the extent of Hoosiers’ enthusiasm for sports betting.

The high level of interest in sports gambling is what results in such large handles, and also what attracts new companies to participate in this industry.

Indiana welcomes back basketball

It’s widely known that Indiana has a deep-rooted love for basketball. This sport was the most betted on in the state until it was disrupted by the advent of COVID-19.

As the winter months approach, the popularity of betting on basketball is set to surge.

The basketball handle of $17 million in November was a significant increase from the $10 million in October. The numbers are only expected to rise from here.

The timing may not have been great, but college ball kicked off its new season in November.

The season started on November 25, thus, Indiana’s handle only experienced an increase in betting for the final few days of that month.

The NBA will find itself in a comparable situation in December. With the season commencing on Dec. 22, there will only be a few days left in the month for NBA betting.

Despite the fact that we won’t see the full impact of the NBA until January, Indiana will benefit from a full month of college basketball betting to boost its handle.

Online casinos could be introduced to Indiana in 2021.

As 2020 draws to a close, everyone is focused on what lies ahead.

Lawmakers in Indiana have already introduced sports betting, casinos, horse racing, and lottery games in the state. The next progression is online casinos.

Sen. Jon Ford is developing an iGaming bill aimed at establishing a legalized online casino marketplace in Indiana.

During the state’s first legislative session in 2021, that bill will be presented.

Should things proceed favorably, Hoosiers could potentially enjoy games such as online blackjack in the near future.

Generally, online casinos yield higher profits than sports betting.

For instance, since its inception in 2019, sports betting has generated a tax revenue of $14 million for Indiana. However, Sen. Ford projects that online casinos could produce an annual revenue of $45-60 million for the state.

Gamblers throughout the state are anticipating the bill to become law, however, there’s no certainty until 2021.

The initial legislative session, which spans from January to April, may require some time before we begin to observe any results.

However, the bill’s fate does not change the fact that online casinos are the logical progression for Indiana’s market. Legal online casinos may be introduced in Indiana through Sen. Ford’s bill or any future legislation. It appears to be only a matter of time before they arrive.