Legalized in May 2019, Indiana launched sports betting in September 2019. After the strong revenue results from November 2021, December was another good month for sportsbooks in the state. In fact, Indiana sportsbooks surpassed $400 million in betting handle for the second month in a row.
December Marks Another Successful Month for Sportsbooks in Indiana
While in November, Indiana sportsbooks’ betting handle hit $463.7 million, in December, it slightly dipped to $463 million, according to data released by PlayIndiana. Despite the small decrease in the betting handle, December was still a strong month for the industry in the state. The betting volume also decreased slightly to $14.9 million per day in December from $15.5 million per day in November.
However, a year-on-year comparison shows that revenue grew exponentially in December 2021. While in December 2020, sportsbooks in the state generated $313.1 million, this year’s result of $463.0 marks an increase of 47.9%. Moreover, sportsbooks won $22.0 million in December 2020, while in December 2021, operators’ wins hit $26.0 million. Considering the $25.8 million in taxable revenue, Indiana’s state coffers collected some $2.5 million in tax revenue in December 2021.
2021 Was a Successful Year for Sportsbooks in the State
Not unexpectedly, online wagering was responsible for some 91.3% or $422.8 million of the betting handle in December 2021. The remaining $40.2 million of the betting handle was raised by retail sportsbooks in the state.
Overall, during 2021 there have been $3.8 billion in online and retail wagers. This marks a significant increase of 116.4% when compared to the $1.8 billion wagered during 2020. Gross revenues also grew significantly by 125.5% to $307.6 million during 2021 when compared to the $136.4 million in 2020.
December was a good month for DraftKings, considering that the sportsbook has seen $148.2 million in bets. However, when compared to the $166.2 million in bets from November, a small decrease is observed. The second-most popular sportsbook in December was FanDuel that has seen $120.5 million in bets. This marks an increase from the $109.8 million in bets that FanDuel collected in November 2021.
Indiana’s Sports Betting Market Will Continue Growing
Jake Garza, an analyst for PlayIndiana.com outlined that the sportsbooks enjoyed an impressive fall. He explained that wagering and revenue for sportsbooks were all-time high and continued “a remarkable four-month stretch in which wagering was up 73.8% year over year.”
“This fall has been so impressive for sportsbooks that it almost seems like anything other than a record month is a surprise.”
Jake Garza, an analyst for PlayIndiana.com
PlayUSA.com Network’s analyst, Eric Ramsey, added that after the difficult 2020, 2021 marked the year when people “fully embraced online sports betting.” He acknowledged that complementing the impressive results, the market in Indiana is going to continue growing.
“2021 should be remembered as the year in which people fully embraced online sports betting, especially after a tumultuous 2020.”
Eric Ramsey, an analyst for the PlayUSA.com Network
Ramsey said that innovative products from sportsbooks continue to reach more customers. In conclusion, he remarked that sports fans in Indiana are becoming more comfortable with sports betting and the different forms of betting as well.