Hoosiers Bet More Than $400 Million On Sports During October

Last month, Indiana experienced a rise in sports betting wagers, amassing $446 million. This is an increase from September’s total of $382 million.

State taxes exceeded $4.4 million and nearly $47 million in revenue was observed by the sportsbooks due to the high handle. If this pace continues, Indiana could surpass $10 billion in total bets by the upcoming month.

Indiana’s market is heading into its most pivotal time of the year. As football season kicks off and basketball returns, sports betting in Indiana is poised to conclude 2022 on a strong note.

Football is the most popular sport for Hoosiers.

Football is the favored sport for gambling in the US and was particularly popular in Indiana in October. This is hardly surprising, considering the plethora of NFL and college football games that take place during the month.

Last month, gamblers in the state exclusively wagered over $168 million on football.

Here is a succinct review of the sources for Indiana’s October handle of $446:

• Football: $168 million
• Basketball: $57 million
• Baseball: $32 million
• Parlay: $126 million
• Other: $61 million

Based on the latest statistics, basketball is the sleeping giant.

The well-known passion for basketball in Indiana is soon expected to dominate the state’s betting numbers again.

For at least half the year, basketball usually outshines football in terms of popularity. The imminent comeback of the NBA and college basketball heralds the upcoming switch.

Hoosiers made bets amounting to $57 million on the sport in October. However, this figure is expected to substantially rise in the following months.

Could a new sports betting record potentially be on the horizon?

If the current rate continues, Indiana might set a new sports betting record in a few months.

Typically, the state reaches a new record high in January.

The sports calendar’s alignment offers optimal conditions for large numbers. All major sports are occurring, providing gamblers with a multitude of options, with the exception of baseball.

Currently, the record for the highest handle in a single month in Indiana is $500 million, set in January 2022.

The Hoosier State could potentially surpass the colossal amount of half a billion dollars wagered on sports in a single month soon.

Over the past year, the betting market in Indiana has expanded, providing gamblers with more wagering options than the previous year. Furthermore, new sportsbook apps have been launched to make betting more convenient.

If the current pace carries on, the substantial numbers that Indiana’s market could potentially see in the coming months might make the $446 million bets placed in October appear as the lowest amount until February.