Thanks in part to November basketball in a hoops-centric state, Indiana's legal sports betting handle saw a monthly increase for the fourth consecutive time.
Figures recently released by the Indiana Gaming Commission showed that the state's retail and online sports betting sites took in $452.3 million in wagers, a 1.4% increase from the $446.2 million accepted in October.
November was the sixth-highest handle ever for Indiana sports betting, falling short of November 2021's mark of $463.6 million, but it was a milestone month for the Hoosier State: Indiana has now surpassed $10 billion in handle since it opened up legal sports betting in 2019, becoming the sixth state to do so.
Indiana operators saw their hold percentage dip (from 10.5% to 8.8%) month-over-month, however, leading to revenue slipping from $46.9 million in October to just shy of $40 million in revenue a month later.
Still, the state hauled in more than $3.7 million in taxes from sports betting revenues.
FanDuel closes in on DraftKings
November was a welcome sight for FanDuel in its battle with rival DraftKings for sports betting supremacy.
DraftKings again led all mobile operations in handle with $143.8 million, but FanDuel was a close second at just under $141 million — a much better month after it took in nearly $14 million less than DK in October.
In terms of revenue, however, it was FanDuel who had the last laugh, reporting just over $18 million in adjusted gross revenue (AGR)... nearly double that of DraftKings' $9.8 million number.
BetMGM came in third in both wagers and revenue, at $44.4 million and $4.9 million, respectively.
College football and the NFL combined to make up $137.6 million in wagers, which led the way in Indiana, but with the Pacers and college basketball back in full swing, the hoops handle jumped by more than $67 million from October’s figures to $124.7 million in November.
Parlays were also quite popular, comprising $126.5 million worth of wagers in the month.
