Indiana sports betting was off to another record-breaking month in November as the football season gained momentum. The NBA schedule also continued to pick up in the month, fueling an increase in betting action.
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According to the latest monthly revenue numbers published by the Indiana Gaming Commission (IGC), sportsbooks in the state took in $463.7 million in bets for the month of November, eclipsing the previous record of $461.1 million set in October by 0.6%. The industry also saw a massive year-on-year increase in betting handle as the figure jumped by 84.4% from November 2020’s $251.4 million.
Licensees across the state combined to generate $47.7 million in taxable sports betting revenue, an increase of 72.1% from the $27.7 million won in October, and up 88.5% from November the $25.3 million posted in the same period last year.
The revenue for November was also a new high for Indiana. The previous record for revenue was $33.9 million, achieved in September this year.
The state collected a record $4.5 million in sports wagering taxes during the month, up 73.1% from the $2.63 million collected in October and 87.5% higher than November 2020’s $2.4 million. Indiana taxes its sportsbooks at the rate of 9.5% of adjusted gross revenue.
Indiana’s betting handle by sport
Football remained the most wagered on sport in Indiana last month, with players spending $136.3 million in bets, down from $175.8 million in October.
Basketball betting came in a close second as the amount staked on the sport jumped by a whopping 146.9% from October’s $53.5 million to hit $132.1 million in November. The massive increase in football betting handle was partly fueled by the return of college basketball on November 9.
Parlay cards generated $120.0 million in wagers for the month, a decrease of 5.96% from the $127.6 million reported in October. The handle for baseball betting was down to $1.4 million in November, down from $34.8 million in the previous month while the amount staked on other sports amounted to $69.1 million.
DraftKings remains favorite sportsbook for Hoosiers
A breakdown of the numbers posted by the IGC reveals that DraftKings was the top online operator in Indiana last month after raking in $166.2 million in bets. The licensee’s handle for October was $150.7 million, translating to an increase of 10.3% month-on-month. DraftKings’ internet betting revenue for the month was $12.6 million, up from $7.8 million in October.
FanDuel Sportsbook took the second spot with $109.8 million in mobile handle, down from $113.3 million in the month prior. The operator, however, topped the state in online revenue after winning $15.6 million for the month, up by 69.6% from the $9.2 million generated in October.
BetMGM took in $46.3 million in bets to scoop the third spot, down from $47.7 million in October. The operator’s online revenue was $4.5 million. Caesars was fourth with $43.9 million in mobile handle and $3.0 million in revenue.
The top retail operator was Penn National Gaming’s Hollywood Casino Lawrenceburg, which features a Barstool-branded sportsbook. The casino posted $12.7 million in retail betting handle and $2.8 million in gross receipts. Ameristar Casino followed closely with $6.3 million in handle and $746,345 in hold. The facility partners with DraftKings for its retail sports betting operations.
