Hoosiers Bet More Than $400 Million On Sports During October
Indiana racked up $446 million worth of sports betting wagers last month. That was an increase from September’s $382 million haul.
That massive handle led to over $4.4 million worth of taxes for the state, and nearly $47 million worth of revenue for the sportsbooks themselves. At this rate, Indiana could pass the $10 billion mark for lifetime wagers as early as next month.
Indiana’s market is entering its biggest stretch of the entire year. With football in full swing and basketball back in action, Indiana sports betting should finish 2022 on a hot streak.
Football most popular for Hoosiers
Football is generally the most popular sport for gambling in the US, and that was certainly the case for Indiana in October. That’s no surprise given the full slate of NFL and college football games taking place throughout the month.
Gamblers in the state bet over $168 million just on football last month.
Here’s a quick breakdown of where Indiana’s $446 October handle came from:
- Football: $168 million
- Basketball: $57 million
- Baseball: $32 million
- Parlay: $126 million
- Other: $61 million
Basketball is the sleeping giant when it comes to the latest batch of numbers.
Indiana’s love affair with basketball is a well-known one. Before long, the sport will be dominating the state’s betting numbers once again.
Basketball steals the top podium spot from football for at least half of the calendar during a typical year. That switch is just on the horizon now that the NBA and college basketball are finally back.
Hoosiers only bet $57 million on the sport during October, but that number will skyrocket in the coming months.
New sports betting record coming soon?
At this rate, Indiana could have a new sports betting record on its plate in a few months.
The state typically reaches a new all-time high in January.
The overlap of the sports calendar sets the perfect conditions for big numbers. All of the major sports are in action except for baseball, so gamblers always have plenty to pick from.
Indiana’s current record for a single month is January 2022’s $500 million handle.
Half a billion dollars bet on sports is a massive number for one month, but the Hoosier State might be able to top it before long.
Indiana’s market has been growing over the past year. Gamblers have more betting options than they did a year ago, and new sportsbook apps to place those bets on.
All of that could lead to huge numbers for the state’s market in the coming months. At this rate, October’s $446 million worth of wagers could be the lowest amount for Indiana until February.