Indiana Sports Betting Continues to Grow
Indiana launched sports betting in September 2019, and the state has wasted little time in becoming a leader in the sports betting industry.
November saw the state shatter another sports betting handle record, and there doesn’t appear to be any slow down in sight.
Indiana Sports betting handle was reported at $251.4 million during November, breaking the previous mark by over $20 million. Most of the states in the U.S. continue to see record sports betting numbers, but Indiana has emerged as one of the top U.S. markets.
This is now the fifth straight month that Indiana has set new sports betting handle record, and the industry has almost fully recovered from the COVID-19 pandemic. Mobile or online wagering accounted for almost 85 percent of all wagers placed last month, and that is another trend that has continued.
Indiana and Iowa were the first two states in the Midwest to offer sports betting, but Michigan and Illinois launched in March 2020. Illinois is a significant threat to the Indiana market, but so far, it has not stopped the Hoosier State from setting new records.
The hold for November was 10.1 percent, which is the highest since October 2019. During that month, the hold was 12.5 percent, as the industry was just getting on its feet in the state.
DraftKings, FanDuel Leading Charge
While there are many sports betting operators in the state of Indiana, there are two that are clearly leading the charge. DraftKings and FanDuel combined to account for almost 64 percent of the sports betting handle in November, which is not a new trend.
DraftKings brought in more than $95 million in wagers, while FanDuel was right around $64 million.
DraftKings has partnered with the Ameristar Casino in East Chicago to offer sports betting services. FanDuel has teamed up with the Blue Chip Casino in Michigan City to provide sports betting in the state.
Football was the most popular sport to bet on during November, accounting for a little more than $113 million in wagers. Parlay betting ($66.05 million), and “other” (53.29 million) were next on the list of top betting options.
More Sportsbooks On the Way
There are currently 11 retail sportsbooks in Indiana, but that number is expected to increase in 2021. Hard Rock Northern Indiana will be one sportsbook set to enter the market in 2021, and Four Winds Casino in South Bend is looking to do the same.
There are currently 10 sportsbook apps available in Indiana, and that number will grow next year as well. 888 Holdings recently announced that it has received a license to operate in three new states, and Indiana was on the list.
888Sport will be the newest sportsbook to join the competitive industry when it is finally able to launch, but other operators have been rumored to seek a license as well. Those potential operators include Barstool Sportsbook, Bet Indiana, and Smarkets.
For more sports news and legal sports betting in Indiana, check out more stories on our blog.
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