Indiana Crosses $10 Billion Mark For Lifetime Sports Bets
Indiana gamblers bet over $452 million on sports during November. That was a modest increase from October’s $446 million mark.
November’s handle put Indiana sports betting over the hump for a big milestone. Hoosiers have officially bet more than $10 billion on sports since 2019, and that number will continue to increase in the future.
$10 billion bet on sports in Indiana
Sports betting began Indiana a little over three years ago. Since then, the industry has grown into an entertainment powerhouse in the state.
$10 billion in bets is certainly nothing to sneeze at. It’s a noteworthy number that displays just how much Hoosiers love to bet on sports.
That massive number has led to over $800 million worth of revenue for sportsbooks and nearly $80 million worth of taxes for the state of Indiana.
A huge chunk of the state’s $10 billion lifetime handle came from this year alone. Indiana gamblers have bet over $4 billion in 2022.
Passing the $10 billion milestone is thanks to the latest batch of numbers from the Indiana Gaming Commission.
Indiana November 2022 sports betting handle
November’s $452 million sports betting handle was a huge one for Indiana.
That haul created almost $40 million worth of revenue for gambling companies, plus a little over $3 million worth of taxes for the state.
Indiana is in record territory for the next handful of months. The current record is January 2022’s $500 million handle, but December and January traditionally have a great chance to create new all-time-highs for the market.
In other words, Indiana’s sports betting numbers will climb even higher in the coming months. The industry can thank a beefy sports calendar for the boost.
Welcome back basketball
Indiana’s sports betting market is in its strongest stretch of the year. The holiday season creates the perfect gambling conditions due to the overlap of football and basketball.
Football has been leading the charge for Indiana betting over the past few months, but basketball’s return will play a huge role going forward.
Here’s a glance at what Hoosiers were betting on the most during November:
- Football: $137 million
- Basketball: $124 million
- Baseball: $3.7 million
- Parlay: $126 million
- Other: $59 million
Basketball took a huge leap last month, up from a meager $57 million handle in October. A full month of NBA action combined with the return of college hoops helped boost the numbers.
Basketball will take the reigns for Indiana sports betting soon, but football has a little more time left with the top spot on the podium.
The sport’s numbers will start to taper off once the NFL Playoffs begin. Those games have a huge amount of interest, but as things advance into the later rounds, there just aren’t as many games left to bet on in a given week.
That will push basketball to the front of the minds of Indiana gamblers, but at least for now, football remains as the dominant sports betting force in the state.