LAS VEGAS — Indiana’s online and retail sportsbooks easily surpassed $100 million in bets in a month for the first time, as online betting continued to rapidly gain traction in the state during a bustling November, according to analysts for PlayIndiana.com.

“Once online betting begins, the market grows exponentially,” said Dustin Gouker, lead analyst for PlayIndiana.com. “Bettors overwhelmingly prefer the convenience and safety of online sportsbooks, and the addition of DraftKings and FanDuel in October was like adding rocket fuel to Indiana’s sports betting industry. That is a pattern we have seen in New Jersey and Pennsylvania, in addition to other smaller legal jurisdictions.”

With out-of-state bettors continuing to pour into Indiana, the state’s retail and online sportsbooks generated a combined $147.3 million in bets in November, up 61% from $91.7 million in October, according to the official report released Tuesday. November’s handle produced $9.3 million in adjusted gross revenue, down 19% from $11.5 million in October. The “win” yielded $883,361 in tax revenue for the state.

The importance of market proximity to Chicago can be seen most clearly in Indiana’s retail market. Three of the top five retail sportsbooks are based in casinos near Chicago. In addition, football remains king, accounting for 40% of all November bets in Indiana. And the top six retail sportsbooks are near cities with NFL franchises, including Indianapolis, Chicago, and Cincinnati.

 

 

cover Photo by Dave Adamson on Unsplash