Indiana Sportbooks Continue Rebound from Pandemic
With heavy fan interest in college and professional football, Indiana’s sports gambling operations reached a new high in September.
Based on data from the Indiana Gaming Commission, bettors wagered $207 million, bypassing the previous one-month high of $187 million set last February.
The state of Indiana earned $10.4 million tax revenue in September from sports gambling.
“Indiana sports fans were all in in September, as sports betting revenue hit an all-time high in the Hoosier state off the back of an unprecedented volume of sports happening simultaneously,” said Max Bischel, group vice president of US business for Gambling.com.
While most of the sports bets were placed on football, bettors also placed odds on the NBA and Major League Baseball.
Gaming analysts for PlayIndiana.com say September’s sportsbook is up 489% from the $35 million handle posted in September 2019 which was the first month of legal sports betting in Indiana.
“Indiana’s balanced regulatory framework remains attractive to operators, which has kept the market on relatively firm footing, too. Those factors were key in kicking off the football season in record fashion,” said Jessica Welman, analyst for PlayIndiana.com.
Online sports betting accounted for 83%, or about $173 million, of the September handle. The balance was generated at retail (in-person) sportsbooks at Indiana casinos.
Analysts are expecting even higher amounts this month.
“Looking ahead to October, expect wagers to continue to climb to more record number, pushing $250 million in handle, as the NBA Finals round out, more NCAA Football games added to the docket and NFL hits full steam,” said Bischel.
According to Bischel, Indiana’s total casino wagering, including table games and electronic games, measured $170 million.
He says the state collected $34.25 million in total tax for September, including wagering, sports wagering, and supplemental taxes.