Indiana posts record $355.4m betting handle for September

September was a busy month for sportsbook operators in the Hoosier State, according to the latest monthly revenue report published by the Indiana Gaming Commission (IGC).

The Commission’s data shows that Hoosiers wagered a record $355.4 million in the month, the highest betting handle posted by the state the Indiana joined the legal US market in September 2019. The previous record was $348.2 million, which was set in January this year.

When compared to the $215.6 reported in the month prior, September’s handle was up by 64.8% month-on-month. The amount was also 71.3% higher than the $207.5 million reported in September 2020.

With regard to revenue, Indiana sportsbooks held $33.9 million of the total amount wagered in September, translating to a hold percentage of 9.54%. The revenue figures showed an improvement of 108% month-on-month when compared to the $16.3 million posted in August.

Indiana’s coffers benefitted from $3.2 million of the revenue, which is twice the $1.6 million collected in August. Indiana’s tax rate for sports betting operators is 9.5% of adjusted gross receipts.

Football betting drives Indiana’s record numbers

As expected, the start of the NFL season was the biggest driver of Indiana’s record handle in September. Football betting generated a handle of $148.6 million in the month, up from $13.9 million in August.

The second most popular market was parlay cards, which accounted for $92 million of the total value of bets placed in the state. The market recorded a handle of $82.4 million in August, translating to an increase of 11.7% month-on-month.

Baseball betting came third with a handle of $52.9 million, up from $5.6 million in August, while $5.2 million was staked on basketball. All other sports, including soccer, golf, tennis, MMA, and hockey, brought in a combined $52.2 million of the total bets.

The IGC also revealed that $326.6 million of the September handle came from online bettors, which is a whopping $91.9% of the total amount staked in the month. The volume of bets staked via online sportsbooks in august was $199.8 million, indicating an increase of 63.5% month-on-month.

DraftKings Sportsbook remains unbeaten in Indiana

DraftKings Sportsbook has dominated the Indiana sports betting market since the inception of the industry two years ago, and going by the latest revenue report from the IGC, the operator is not about to relinquish its position as the market leader in the state.

The operator accounted for nearly 40% of the state’s mobile handle in September after handling $130.4 million worth of bets. The revenue posted by the brand in the month was $7.2 million, up from $4.4 million in August.

The DraftKings mobile betting app in Indiana is tied to Ameristar Casino in East Chicago, which is owned by Penn National Gaming.

The FanDuel app, which is tethered to Blue Chip Casino in Michigan City, took in $77.2 worth of bets to claim the second spot in the Indiana’s sports wagering market. However, the operator’s betting revenue of $10.6 million was the highest in the state in September.

BetMGM came in third with an online handle of $37.1 million and $4.5 million in revenue, while William Hill, now Caesars, reported a mobile handle of $30.7 million and $719,111 in revenue.

The facility with the highest retail handle was Hollywood casino in Lawrenceburg, which houses a Barstool branded retail sportsbook. The establishment took in $11.5 million worth of bets from in-person bettors, and its revenue for the month from retail betting was $2.3 million.

The East Chicago-based Ameristar Casino was second in the retail sector with a betting handle of $5.0 million. DraftKings is behind the retail operations at the establishment.