Indiana’s sports betting industry witnessed remarkable growth in December, capping off a year marked by significant milestones. The state’s handle surged by 16.6% year-on-year, reaching an impressive $503.1 million. Despite narrowly missing the record set in November 2023, these figures highlight the robust performance of Indiana’s legal sports betting market since its inception in September 2019.
Monthly Performance:
December’s handle stands out as the second-highest monthly amount in Indiana’s sports betting history. Although it trailed November’s all-time high by a marginal 2.1%, the month-to-month consistency underscores the sustained interest and engagement of bettors.
Revenue Achievements:
The taxable adjusted gross revenue for December surpassed the existing record set in September 2022, reaching $50.5 million. This achievement represents an 18.5% year-on-year increase and a remarkable 64.8% surge from November 2023’s revenue of $30.7 million. The state’s gaming commission reports indicate a thriving market that continues to contribute significantly to the state’s coffers.
Sporting Preferences:
Breaking down the betting preferences, basketball emerged as the frontrunner, drawing $133.1 million in bets. Following closely, American football reported $118.1 million in bets. Other sports collectively attracted $45.7 million in wagers, while the dynamic world of parlay betting saw a substantial $205.7 million in spend.
Tax Impact:
December’s tax receipts amounted to $4.8 million, bringing the annual total to a noteworthy $38.6 million. This figure surpasses the previous year’s contributions by $1.8 million, indicating not only the industry’s growth but also its positive impact on the state’s fiscal health.
Indiana’s sports betting landscape concludes the year on a high note, with a robust handle, record-breaking revenue, and sustained growth. The consistent popularity of basketball and American football among bettors, coupled with the thriving parlay betting sector, paints a picture of a diverse and dynamic market. As the industry continues to evolve, Indiana stands as a shining example of successful sports betting regulation, contributing both excitement to fans and substantial revenue to the state.