December Hits The Heights For Indiana Sports Betting

Indiana announced its December sports betting numbers with the state reporting $50.6 million in adjusted gross revenue, setting a new monthly record. Although it narrowly missed out on the all-time high handle, Indiana’s sports betting market continues to grow.

December proved to be a big month for Indiana’s sports betting industry. The state recorded a taxable adjusted gross revenue of $50.6 million, surpassing the previous record of $50.5 million set in September 2022. This impressive figure also marked an 18.5% increase compared to December 2022’s revenue of $42.7 million. Furthermore, it exceeded the $30.7 million generated in November 2023 by a staggering 64.8%.

While Indiana narrowly missed out on setting a new handle record, it still achieved an impressive milestone in December. Consumers in the Hoosier State wagered a total of $503.1 million, making it the second-highest monthly amount since the legal market opened in September 2019. This figure represented a significant 16.6% increase compared to the $431.4 million bet in December 2022. It was only 2.1% shy of November 2023’s all-time high handle of $513.7 million.

When it comes to sports betting, basketball remains the top choice among Indiana consumers. In December alone, $133.1 million was wagered on basketball, reflecting the state’s passion for the sport. Indiana is home to the NBA’s Indiana Pacers and the WNBA’s Indiana Fever, which undoubtedly contribute to the popularity of basketball betting in the state.

American football also garnered significant attention from Indiana bettors, with $118.1 million wagered on the sport in December. Baseball, with its deep-rooted history and following, attracted $133,791 in bets. Additionally, $45.7 million was bet on various other sports, while parlay betting spend amounted to an impressive $205.7 million.

The competition among casinos and their sports betting partners in Indiana is fierce. In December, Ameristar Casino and DraftKings regained the lead in the market, generating $19.3 million in revenue from a handle of $179.8 million. Following closely behind were Blue Chip Casino and FanDuel, who had taken the lead in November. They recorded $18.1 million in revenue from a handle of $171.8 million.

Belterra Casino, another FanDuel partner, consistently secured the third spot, with revenue of $3.8 million from a total of $34.4 million in wagers in December. These numbers highlight the intense competition and the various partnerships that have formed in Indiana’s sports betting landscape.

Legal sports betting has not only brought entertainment to Indiana but also a significant source of tax revenue. In December alone, the state generated $4.8 million in taxes from sports betting activities. This revenue serves as an additional benefit for the state, contributing to various public services and initiatives.