Indiana’s sports betting industry experienced a slight downturn in December, with the total sports betting handle amounting to $431.4 million. While this figure reflects a 4.6% decrease from November’s $452.3 million, it is also indicative of a year-on-year decline of 6.8%. Despite this decline in handle, the state’s operators managed to increase their adjustable gross revenue, marking a positive development for the industry.
Shifts in Handle and Revenue:
According to data provided by the Indiana Gaming Commission, the operators’ adjustable gross revenue saw a substantial rise of 65.6%, reaching $42.7 million in December. This figure significantly surpassed the $25.8 million recorded in December 2021 and also outperformed November 2022’s revenue of $40 million. The state’s tax revenue also received a boost, with $4.1 million collected in December, contributing to the total tax revenue of over $36.8 million for the year.
Popular Sports and Sportsbooks:
Football, encompassing both college and NFL games, emerged as the most favored sport among bettors, amassing a total betting amount of $136.2 million. Following closely behind was basketball, with a handle of $130 million, while parlay bets accounted for $119 million. Other sports collectively contributed $46 million to the betting landscape. Notably, FanDuel emerged as the leading sportsbook in Indiana for the month of December, boasting a handle of $137.8 million and generating revenues of $15.9 million. DraftKings closely followed suit, amassing $134.8 million in wagers and reporting revenue of $12.4 million.
Indiana’s Sports Betting Landscape:
The year 2022 proved to be a significant period for Indiana’s sports betting industry, with a total of $4.4 billion wagered by sports bettors. This record-breaking figure marked the highest annual total since the launch of sports betting in the state in 2019. The consistent growth and popularity of sports betting underscore the enduring appeal of this form of entertainment and potential revenue generation for the state.
Indiana’s sports betting sector navigated a month of mixed outcomes, witnessing a decrease in the total betting handle while simultaneously celebrating an impressive surge in adjustable gross revenue. The robust performance of leading sportsbooks like FanDuel and DraftKings highlights the competitive nature of the market. As the industry continues to evolve, Indiana’s sports betting enthusiasts are contributing to record-breaking figures, reinforcing the state’s position as a vibrant and thriving hub for sports wagering activities. The upward trajectory of wagering volume and revenue underscores the enduring allure of sports betting, propelling the industry towards a promising future.