Indiana published data about the performance of its sports betting industry in December. The industry recorded favorable revenues despite a noticeable handle drop.
Indiana Publishes Data about the Performance of Its Sports Betting Industry
The Hoosier State reported that its sports betting industry posted a slight decline. According to official data, the vertical recorded a handle of $431.4 million for the period. This figure represents a 4.6% month-on-month increase from November when the industry earned $452.3 million. It also outlines a 6.8% year-on-year decline from December 2021 when the vertical reported handle of $463 million.
Despite the lower handle, sports betting operators in Indiana actually recorded increased revenues for the period. Sportsbooks posted adjustable gross revenue of $42.7 million for December. This figure shows a stellar increase of 65.6% from the $25.8 million the industry earned in December 2021. It also highlights a slight 6.8% month-on-month increase from the $40 million recorded in November 2022.
Thanks to the great performance of sports betting in the Hoosier State, sportsbooks contributed $4.1 million to local taxes. Meanwhile, Indiana‘s sports betting handle for the entire 2022 sat at $4.4 billion for the entire 2022.
Additional Notes about Sports Betting in December
Taking a look at which sports disciplines performed the best, we see that football continues to be the fan-favorite in Indiana. The beloved sport was singlehandedly responsible for over a quarter of the total December handle, with fans wagering over $136.2 million on their favorite teams and players.
Basketball was not far behind, posting a handle of $130 million across all sports betting operators in the state. Meanwhile, $119 million in bets was placed on parlay bets and another $46 million was wagered on other sports.
The report noted that Blue Chip Casino and its partner FanDuel was the fan-favorite operator, recording a total handle of $138.3 million. This translated into $16 million in revenue. Meanwhile, the DraftKings sportsbook at the Ameristar Casino recorded handle of $137.6 million and revenue of $12.7 million. Coming up third is Belterra Casino another company partnering with FanDuel. It earned $5.1 million from a handle of $42.8 million.
In the meantime, Hoosiers continue to push for the legalization of online casino games in the state. Local lawmakers hope to expand the state’s gambling market in 2023 and introduce new verticals. If everything goes according to plan, legal online casinos and racinos may become a reality in a few months. The approximate date for the launch of online gambling – if it‘s approved – is September 1, 2023.