Online and land-based sportsbooks in Indiana reportedly had a very successful December after posting a 29% increase month-on-month in aggregated adjusted gross gaming revenues to $12 million and contributing some $1.1 million in state taxes.
According to a Friday report from PlayIndiana.com citing official information from the Indiana Gaming Commission, sportsbooks in ‘The Hoosier State’ processed $161.8 million in bets last month, which equated to a 10% rise month-on-month, with some 69.5% of these wagers being placed using one of the state’s four licensed online sportsbetting domains.
PlayIndiana.com reported that Indiana is now ‘easily the fourth-largest sportsbetting market in the country’ with its online and land-based sportsbooks having generated $433.4 million in bets and $42.7 million in revenues since being legalized in September. The news domain’s Dustin Gouker explained that this standing is only set to increase as the playoffs begin for the latest edition of the National Football League (NFL) and interest in the National Basketball Association (NBA) intensifies.
Read a statement from Gouker…
“With the NFL playoffs at hand and college basketball in full swing, it is possible that Indiana will surpass $1 billion in bets by March, making Indiana one of the quickest legal United States jurisdictions to reach that mark.”
PlayIndiana.com reported that the online sportsbook from DraftKings Incorporated led the Indiana market in December as its domain run under a license held by Penn National Gaming Incorporated’s Ameristar Casino Hotel East Chicago attracted $66.7 million in bets and generated some $5 million in gross receipts. It detailed that this had been followed by the $36 million in handle and $2.2 million in win chalked up by the FanDuel service operated in partnership with the Blue Chip Casino, Hotel and Spa property from Boyd Gaming Corporation.
Gouker’s declaration read…
“Indiana’s strong start is unquestionably tied to the state’s relatively early launch of online sportsbetting. Online sportsbetting should make up an increasing share of the state’s handle, too. That will help steady Indiana’s sportsbetting industry even as increasing competition from neighboring states affect retail sportsbooks, which is inevitable.”
For land-based sportsbetting and the December figures from the Indiana Gaming Commission reportedly indicated that the most successful venues had been those located closest to out-of-state conurbations such as Chicago and Cincinnati. The data purportedly furthermore showed that the retail sportsbook inside Caesars Entertainment Corporation’s Horseshoe Hammond property had led the way last month by processing bets worth $13.4 million and generating $1.1 million in associated gross receipts.
Read Gouker’s pronouncement…
“Indiana’s ascent to one of the largest sportsbetting markets in the country has been impressive by most any measure. The question for 2020 is whether Indiana can sustain its rate of expansion especially as neighboring states become more likely to legalize sportsbetting. That has already happened in Michigan, which could take a bite out of the handle at some of northern Indiana’s retail sportsbooks.”