Legal sports betting in the fall saw massive growth compared to the months prior. For Indiana, last month’s handle was nearly double July’s haul and should continue to rise as football season continues.
The Indiana Gaming Commission reported that the Hoosier State took in $404.1 million in September, a nearly 70% monthly jump.
After paying out winning tickets, and other adjustments, the sportsbooks kept $41 million in gross revenue. That means the operators held 10.1% of their wagers, a slight improvement over August’s 9.9%.
The good news is that compared to September 2022, sports betting in Indiana is still growing. Last year’s report showed $382.5 million in accepted wagers (a 5.6% yearly jump), The bad news is that the hold percentage last year was 13.3%, meaning tax revenue last month was lower ($4.8 million vs. $3.9 million).
DraftKings, FanDuel dominate the market
The two largest online sportsbooks, DraftKings and FanDuel, continue to control Indiana’s betting market. Combined, these operators had a handle of $293.1 million, which was 72% of the statewide handle. Both companies were the only sportsbooks to hit $100 million in bets.
DraftKings lead all operators with $169.2 million while FanDuel was second with $124.1 million. BetMGM was third with $32.5 million, followed by Caesars with $25.3 million. BetRivers was the last operator to exceed $10 million in handle ($10.1 million)
Football the main betting sport
After a couple months where baseball saw the most single-game wagers, football jumped ahead. Football bets accounted for $155.3 million of the state’s bets, which was more than all the other sports combined. The second most popular sport was baseball at $50.3 million.
Football bets even exceeded parlay bets, which added up to $124.8 million.
