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NFL Slingshots Indiana’s Sports Betting Handle Past $200 Million
By Jeff Osienya Oct 12, 2020 IndustryIndiana has once again proven that it’s one of the states to watch in the US regulated sports betting market after racking up a $207.5 million handle from September wagers. Online mobile sports betting accounted for more than 80% of the wagers.The return of NFL has catapulted sportsbooks in Indiana to new heights in September after they collected a handle of more than $200 million for the very first time in a month. Moreover, sports betting operators from the Hoosier State also collected record revenue for September, effectively pushing the overall proceeds past $100 million since the legal market in the state debuted in September 2019.
Based on an official report released by the state’s gaming regulator – the Indiana Gaming Commission on Friday, sports bettors in the Hoosier State placed wagers worth an impressive $207.5 million in September. This figure smashed the previous high by over $20 million, which had been set in February after the total handle hit $187.2 million. Last month, NFL wagers alone accounted for a remarkable $48 million of the $200 million-plus handle.
Compared to September 2019, which was incidentally the first month of legal sports betting in Indiana, last month’s handle is 489% higher than the $35.2 million value of the total wagers that were placed during the regulated market's pilot month. Additionally, September’s handle was an improvement over the $169 million that was amassed from wagers in August, which in fact put Indiana on the map as the 4th largest powerhouse in USA’s all-time high sports betting handle for that month.
As for the revenue, operators in Indiana fetched an adjusted gross revenue of $14.3 million in September, experiencing a 66.9% climb year-on-year compared to September 2019’s $8.6 million. Last month’s revenue also surpassed the previous $12.2 million record which had been set in January.
So far since the regulated sports betting market in Indiana went live, the sportsbooks have generated a total revenue of $109.4 million, with the combined tax collected hitting $10.4 million after September brought in $1.4 million more in taxes for the state.
Online Betting Continues to Dominate
Of the $207.5 million in wagers that were placed, $173.2 million of the handle came from online mobile bettors, representing a stunning 83.5% of the overall figure. Once again, most bettors placed their wagers with the DraftKings sportsbook skinned at the Ameristar Casino to the tune of $89.4 million in wagers, up from August’s $73.7 million.
Whereas DraftKings remained atop the Indiana market in September after accounting for 43.1% of the wagers, FanDuel came in second with a 27.2% market share, after bagging a handle of $56.4 million. BetMGM rounded up the top 3 performers in the Hosier State’s sports betting market after raking in a handle of $13.1 million, while BetRivers' $6.24 million handle surpassed PointsBet's $6.19 million by a whisker to nab the 4th position. PointsBet was thus the closer of the top five movers for the state in September.
Hollywood’s Star Shines Yet Again for Indiana’s Retail Sports Betting
When it came to retail sportsbooks, Hollywood Lawrenceburg’s sports betting facility maintained its position as the most popular sportsbook for Hoosiers in September as has been the case since day one. The book racked up a handle of about $10 million in September, higher than the $7 million haul from August.
The Ameristar East Chicago retail sports betting shop also retained its runner-up position in Indiana’s popularity contest after collecting a total of $5.2 million from September’s wagers, slightly surpassing the $4,9 million loot from wagers in August.
It is however important to note that Ameristar enjoys the advantage of sitting at the border of Illinois, and as a result, the book often attracts plenty of customers from the neighboring Chicago. Hollywood on the other hand, also enjoys being within driving distance from Ohio’s Cincinnati City, on top of being situated right at the border of Kentucky. The geographic advantage has bolstered the business of the two sportsbooks, but of course, this boost will be thinned out once the states in the vicinity launch a regulated sports betting market.
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