Successful November for Indiana’s regulated sports betting market

November registered a record amount of wagers in Indiana's sports betting market.

Indiana’s retail and online sportsbooks generated a combined US$147.3 million in bets in November, up 61 percent from US$91.7 million in October, according to the official report released Tuesday. November’s handle produced US$9.3 million in adjusted gross revenue, down 19 percent from US$11.5 million in October. The win yielded US$883,361 in tax revenue for the state.

The three main online sportsbooks operators, DraftKings, FanDuel, and BetRivers, combined to generate 65 percent of the state’s handle for November, a total of US$96.2 million in digital bets (+52 percent vs. 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 US$64.1 million handle, up from US$39.4 million in October. FanDuel, operating under the Blue Chip Casino license, grew to US$23.7 million, a lot more than the October’s US$2.4 million. BetRivers, operating under the French Lick Resort license, was third with US$8.4 million, an increase from US$6.3 million of the previous month.

Regarding retail market, three of the top five retail sportsbooks are based in casinos near Chicago, so this city is very important to Indiana’s gambling market. In addition, football remains king, accounting for 40 percent of all November bets in Indiana. The top six retail sportsbooks are near cities with NFL franchises, including Indianapolis, Chicago, and Cincinnati. Horseshoe Hammond, near Chicago, topped the Indiana market again with a US$13 million November handle, up from US$10.7 million. Those bets generated US$800,208 in gross receipts, which was down from US$1.7 million. Horseshoe Hammond was followed by Hollywood Lawrenceburg, Ameristar Casino, Harrah’s Hoosier Park, Blue Chip Casino, Indiana Grand, Tropicana Evansville, Caesars Southern Indiana, French Lick Resort, and Belterra Casino.