Indiana’s sports betting industry continues its remarkable ascent, achieving a record-breaking handle of $513.7 million in November. This impressive figure not only marks a nearly 20% surge compared to October but also reflects sustained year-on-year growth, outpacing the handle recorded in November 2022 ($452.3 million). Notably, the mobile handle reached an unprecedented high of $496.8 million, underscoring the increasing prominence of online sports wagering in the state.
Key Metrics and Adjusted Gross Revenue:
According to the Indiana Gaming Commission, taxable adjusted gross revenue for November amounted to $30.7 million, presenting a slight dip from October’s robust figure of $45.2 million. The hold percentage for November settled at 6%, a notable difference from the previous month’s 10%. While there was a decrease in the percentage, the absolute numbers still depict a thriving sports betting market in Indiana.
Dominance of Key Operators:
In the competitive landscape of Indiana’s sports betting, key operators continued to make their mark. DraftKings led the way by accepting $188 million in bets, constituting 36% of the state’s handle. FanDuel closely followed with $175.5 million, showcasing the dynamic competition between these major players. BetMGM secured $37.2 million in bets, while Caesars and the recently introduced ESPNBet captured the fourth and fifth positions, respectively.
Popular Sports and Betting Trends:
Basketball emerged as the frontrunner among Indiana bettors, attracting $145.7 million in bets. The popularity of football wagers was also evident, with a total of $136.8 million in bets. These figures not only reflect the diverse sports interests of Indiana’s betting community but also emphasize the pivotal role of major sporting events in driving betting activity.
Tax Contributions and Fiscal Impact:
The state collected $2.9 million in taxes in November, contributing to the year-to-date total of $33.8 million. This underscores the fiscal impact of sports betting on Indiana’s economy, with tax revenues providing essential funds for public services. The transparent and regulated nature of the industry ensures a responsible contribution to the state’s financial well-being.
Indiana’s November sports betting report highlights the industry’s robust growth, setting new records in both handle and mobile wagering. As major operators compete for market share, the diverse interests of bettors are reflected in the popularity of different sports. While slight fluctuations in percentages occurred, the overall narrative points to a thriving and dynamic sports betting landscape in Indiana. The industry’s ability to adapt to evolving trends and maintain responsible practices positions Indiana as a key player in the continually expanding realm of legal sports wagering.