The Indiana Gaming Commission has released sports betting revenue numbers for January, and it shows big gains in online wagering.
Bettors placed more than $170 million in sports wagers, a nearly 10% increase over December. The $170 million handle generates about $1.2 million in tax revenue for the state.
Gaming analysts say mobile sports betting represented 72% of total wagers, climbing from 68% in December. The balance of 28% represents retail, or in-person, sports bets placed at a casino.
“Indiana’s sports betting market continues to see solid growth with another record-breaking month in January. Indiana policymakers got it right when they enabled easy, convenient access to mobile sports betting,” said Max Bichsel, vice president of U.S. business for gambling.com group.
DraftKings sportsbook, which is licensed through the Ameristar casino in East Chicago, took in approximately $73 million in sports bets in Indiana.
It’s followed by the FanDuel sports app, which totaled just over $52 million in sports wagers. The sportsbook is licensed through Blue Chip Casino in Michigan City.
Coming in at a distant third for sports wagering is Horseshoe Hammond casino, measuring nearly $14 million in sports bets. Analysts say they are surprised by the placement since Horseshoe does not have an online operator, like DraftKings or FanDuel.
Gaming analysts for PlayIndiana.com say Indiana’s growth in online sports betting could surpass Pennsylvania which is ranked number three.
“Indiana has built an impressive infrastructure that continues to maximize the market’s potential,” said Dustin Gouker, lead analyst for PlayIndiana.com. “That should help keep the state a step ahead of its competition as neighboring states, such as Michigan, prepare for their own launches.”
Gouker says Indiana benefits from its location next to major out-of-state markets such as Chicago, but that could change in the coming months as Illinois adopts legalized sports betting.
“Proximity to Chicago is still a critical advantage in the retail market, but that could change when Illinois launches retail betting, which could happen as early as March,” Gouker said
Basketball accounted for $59 million of the bets, compared to $36 million in football. “With March Madness right around the corner, and new operators entering the market, expect to see double-digit growth through March,” said Bichsel.
The football handle does not include the Super Bowl which was played in February.