Statewide—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.
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.
Not surprisingly with three online sportsbooks operating for all of November, online betting is taking on a rapidly increasing role. DraftKings, FanDuel, and BetRivers combined to generate 65% of the state’s handle — a total of $96.2 million in digital bets — which was up from 52% in October. And that percentage should continue to grow as more online sportsbooks come online in the coming months.
Operating under the Ameristar Casino license, DraftKings led the online market in November with a $64.1 million handle, up from $39.4 million in October. FanDuel, operating under the Blue Chip Casino license, grew to $23.7 million, up from $2.4 million. BetRivers, operating under the French Lick Resort license, was third with $8.4 million, up from $6.3 million.
“We expect that at least 75% of Indiana’s handle will eventually come from online sportsbooks, and that threshold should be met within months,” Gouker said. “Another question is who becomes the dominant online operator in Indiana. Right now DraftKings has a leg up, in part because it’s a familiar brand and because of the Ameristar Casino’s close proximity to Chicago. We expect FanDuel to make a run at DraftKings, but it will have to be superior in brand, database, and marketing to overtake them.”
Southeastern Indiana bets include:
- Hollywood Lawrenceburg ($8.8 million handle, up from $6.9 million in October; $1.1 million win, up from $800208)
- Indiana Grand ($4.2 million handle, up from $3.8 million; $171,205 win, down from $516,140)
- French Lick Resort ($1.2 million handle, up from $791,706; $45,357 win, down from $73,745)
- Belterra Casino ($920,344 handle, up from $812,130; $92,233 win, down from $150,692)
“Colts, Bears, and Bengals fans are clearly boosting the handle in nearby casinos during the NFL season,” Gouker said. “Those sportsbooks nearest Chicago will continue to have an advantage long after the NFL season ends, both in the retail and online markets.”
For more revenue information on Indiana sportsbooks, visit PlayIndiana.com/revenue.
