Indiana Sets Record Monthly Sports Betting Handle (Again) At $251.4M

The Hoosier State continued to show itself as a serious player in the sports betting arena, generating a record handle for the third consecutive month after the Indiana Gaming Commission reported on Thursday that $251.4 million was wagered in November.

It was the third straight month the IGC reported a handle of at least $200 million, with November’s handle 8.87% higher than October’s mark of $230.9 million and 17.48% better than September’s total of $207.5 million. The three-month surge has put Indiana sportsbooks in position to pass $2 billion in cumulative handle with December’s report, provided sports schedules are not disrupted due to COVID-19.

It also was another good month for operators, as a 10.08% win rate resulted in a record monthly adjusted gross revenue of slightly more than $25.3 million. It was the second straight month revenues cleared the $20-million mark and the third consecutive monthly all-time high. Indiana sportsbooks have generated $60.7 million in AGR over the last three months, accounting for nearly 39% of the overall $155.7 million since the first bets were accepted in the state in September 2019.

That, in turn, led to a third consecutive monthly high for taxes collected. The 9.5% tax rate on that revenue resulted in slightly more than $2.4 million entering state coffers for November. The state has collected nearly $5.77 million in taxes over the previous three months compared to $9.02 million in the first 12 of operation.

DraftKings dominates field with impressive mobile handle

It was also another record month in Indiana in terms of mobile handle, which cleared the $200-million mark for the first time since launch. Overall, the figure was nearly $213.7 million and accounted for approximately 85% of all wagers placed around the Hoosier State.

DraftKings continued stalking a $100 million handle, this time reaching nearly $95.2 million. That was a 5.2% increase on its October handle of just under $90.5 million. The Boston-based operator continues to have a vise-like grip on the top spot in Indiana, accounting for 44.55% of the total mobile handle.

FanDuel was a distant second at slightly less than $64.2 million, an increase of less than 1% month-over-month. FanDuel, though, won bragging rights for the most revenue generated by a mobile operator in November, claiming more than $7.7 million in AGR, compared to DraftKings’ $7.04 million.

BetMGM also appears to have solidified its standing as the No. 3 mobile player in the state, accepting more than $25.3 million in wagers. That was an increase of 26.2% month-over-month as the mobile app cleared barely over $20 million in October via Belterra Casino.

BetRivers edged out PointsBet for fourth, posting handle of $10.3 million compared to the Australian-based sportsboook’s total of $9.9 million. Both, though, posted sizable month-over-month increases in handle — BetRivers shot up 32.3% while PointsBet spiked 40.2% higher from October’s handle of nearly $7.1 million.

William Hill posted a handle of slightly more than $4 million in its first full month operating through Tropicana Evansville. The British-based bookmaker, now owned by Caesars following a $3.7 billion acquisition approved by shareholders last month, is operating retail sportsbooks at Eldorado Properties’ Horesehoe Hammond and Caesars Southern Indiana.

The Score ($2.2 million) and Unibet ($1.8 million) were the other mobile operators to reach seven figures in handle for November.

Hollywood Lawrenceburg the top destination for sports bettors

Aided by a prime location bordering two states that have yet to legalize sports betting in Ohio and Kentucky, Hollywood Casino in Lawrenceburg again had the best retail sportsbook action among Indiana casinos, generating $11.6 million in handle. It was the only retail sportsbook that outpaced its mobile arm, which makes sense given patrons would be crossing state lines to bet on Kentucky Wildcats basketball and Cincinnati Bengals football, among other sports.

Speaking of football, it remains the primary driver of sports wagering in Indiana. The IGC does not break out college and pro football bets separately, but a grand total of nearly $113.5 million was wagered on those events in November — an increase of 33.9% compared to the $84.7 million wagered in October.

Parlay bets also continued to be a popular option among bettors, generating $66 million in handle in November. That increase was more modest at just over 8% versus October’s handle of $61.1 million. The return of college basketball — always popular in the state — also provided a boost for sportsbooks as they accepted more than $17.6 million in basketball-related wagers.

Indiana’s “other” category, which is a catch-all of every other sport including hockey, soccer, golf, and mixed martial arts, had a handle of nearly $53.3 million in November. That was an increase of 15.9% over October’s report of nearly $46 million.