Indiana Records Impressive Sports Betting Handle October Figures
Indiana has posted record sports betting handle numbers in October, with a big increase from September numbers.
If anyone had doubts about Indiana sports betting staying relevant, they can now be put to rest. On Tuesday, the Indiana Gaming Commission revealed the sports betting handle for October was $230.9 million, which is an 11.3% increase from September’s $207.45 million. The rise in numbers can be attributed to the four major domestic sports being played simultaneously as the sporting calendar was tweaked due to the pandemic. Other factors driving the increase are players having access to mobile sports betting apps and the popularity of football.
Sportsbooks also posted healthy numbers for October, combining to generate $21.1 million in revenue, which smashed the previous record of $14.3 million set in September. In the last two months, Indiana sportsbooks have taken in approximately $35.4 million in revenue, which accounts for 27.1% of the $130.3 million generated following sports betting going live in the Hoosier State last year.
The hold also increased from September to October, jumping from 6.89% to 9.14%. Consequently, October saw an all-time monthly high of tax revenue as the state collected $2,004,354 in taxes. This surpassed the existing monthly best, which was $1,356,952 posted in September.
DraftKings Comes out on top
The Indiana sports betting market was able to get off to a fast start thanks to remote registration. The state’s ten IN mobile sportsbooks contributed to more than $193 million of the overall handle. Online wagers made up 83.59% of the total bets taken, which was slightly up on September’s 83.48%.
DraftKings continues to be the most successful and used sports betting app in Indiana, generating 90.5 million handle via Ameristar Casino. FanDuel was next in line, posting a total of $63.6 million through Blue Chip Casino. Although it is still a fair way behind DraftKings, it is still on an upward trajectory, with October a 12.5% increase from September.
The only other mobile sportsbook to record an eight-figure handle was BetMGM. The brand took approximately $20 million in wagers operating through Belterra Casino. BetMGM recorded a vast 52.2% improvement in online handle in October after posting $13.2 million the previous month.
BetRivers just pipped PointsBet to come fourth on the list, generating $7.8 million in handle. Australian-based PointsBet saw their total come in at $7.1 million for the month. Seven other mobile sportsbooks reported a handle of at least $1.4 million. One of the newest entrants to the sports betting market in Indiana, William Hill, received nearly $150,000 in bets following its launch on October 28.
Another State Posts a Record Month
Iowa also released its sports betting numbers this week, and another record was broken. The state posted its record sports betting handle for a single month. In October for Iowa, the total handle was $81,902,416, an increase of 13.1% from September’s $72,397,241.
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