There’s no question that regulated sports betting has been a massive hit in the United States. Every month there’s at least one state that shatters its previous record handle and January 2020 was no exception. With a $384.2 million handle, Indiana broke its previous wagering record of $313.1 million that was set way back in December, 2020. And with the Hoosier State’s love of basketball, bigger numbers could yet be in its future.
January 2020 was a record month in Indiana, but nearly every month of regulated sports betting in the state has earned that accolade. This was actually the fifth consecutive record breaking handle for Indiana’s regulated operators and the good news is likely to keep coming.
There is certainly good news in the January numbers for Indiana state coffers. That $384.2 million translates into about $29.3 million in revenue for the state’s combined sportsbooks. Of that number, approximately $2.8 million will be scooped up by tax collectors.
So how fast has Hoosier sports betting been growing? By way of comparison, January 2020′s handle was a mere $171 million.
Like most newly opened US sports betting markets, Indiana’s bettors are mostly playing off of mobile apps. The biggest operators (from top to bottom) were DraftKings ($122.6 million); FanDuel ($89.2 million); BetMGM ($52.4 million); PointsBet ($13 million); BetRivers ($9 million).
Unlike most of the rest of the United States, Indiana bettors did not favor NFL wagers above all else. In the land depicted in the motion picture Hoosiers, basketball topped the board with $133 million in wagers. NFL football only brought in $77 million, according to a report on LegalSportsReport.com.
And with college hoops entering into its busiest months, Indiana operators are certain to break more records before the winter is done.
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