In October, Indiana’s sports betting handle reached $429.7 million, marking a modest 3.7% decrease compared to the same period last year but showing a positive 6.3% growth from September 2023. This report delves into the details of the handle, taxable adjusted gross revenue, key contributors, and the preferences of Indiana bettors.
Handle and Revenue Figures:
October’s sports betting handle in Indiana experienced a slight dip of 3.7%, totaling $429.7 million compared to the $446.2 million reported in the same month last year.
Taxable adjusted gross revenue for October amounted to $45.2 million, reflecting a 3.6% year-on-year decrease but a notable 10% increase from September’s $41.1 million.
Leading Contributors:
Ameristar Casino and DraftKings maintained their position as frontrunners, reporting $17.8 million in revenue from a handle of $172.8 million.
Blue Chip Casino and FanDuel posted significant figures with $17.4 million in revenue from a handle of $147.1 million.
Belterra Casino, in partnership with FanDuel, reported revenue of $3.7 million from bets totaling $36.7 million.
Popular Sports and Betting Preferences:
Football emerged as the most popular sport among Indiana bettors, attracting $153.3 million in bets.
Basketball bets totaled $38.3 million, while baseball drew $27.4 million in wagers.
Parlay bets captured a substantial portion of the market, with $142.3 million spent on this betting category.
Tax Collection and Year-to-Date Performance:
The state collected $4.3 million in sports betting tax during October.
The cumulative sports betting handle for the first ten months of the year reached $3.3 billion, reflecting a 7.3% decrease compared to the same period in 2022. However, revenue showed a positive trend, increasing by 6% to $322.7 million.
Despite a marginal year-on-year decline in the sports betting handle for October, Indiana’s market remains robust, showing resilience and adaptability. The performance of key contributors, the popularity of specific sports, and the sustained growth in revenue underscore the continued interest and engagement of Indiana bettors. Monitoring these trends provides valuable insights into the dynamics of the state’s sports betting landscape.