Indiana is one of the fastest-growing sports betting markets in the United States, and November was another record-setting month. Both sports betting handle and total sports betting revenue set new records last month, and it is just a sign of things to come in 2021.
A Closer Look At the Numbers
Total sports betting handle came in at $251.4 million, shattering the previous record of $230.9 million. October 2020 was the previous record-high, but November saw an increase of nearly nine percent in the betting handle.
Adjusted gross revenue rose all the way up to $25.3 million, smashing the previous $21.1 million record that was set in October 2019. This is an increase of more than 20 percent, and the sports betting industry continues to help the state recover financially from the COVID-19 pandemic.
A look back at the November 2019 sports betting numbers paints an even better picture of just how far this industry has come in 12 months. Sports betting handle was up 70.7 percent year-over-year, and adjusted gross revenue was up 172.4 percent.
Indiana is now facing some increased competition from other states in the Midwest, most notably Illinois. Illinois has already surpassed Indiana in terms of sports betting handle, but it hasn’t slowed down the growth in the Hoosier State.
Mobile sports betting continues to lead the way in Indiana, accounting for 85 percent of all of the wagers placed during November. Mobile betting handle rose by nearly 11 percent from October 2020, and by more than 122 percent from November 2019.
Indiana officially launched sports betting in September 2019, and the state wasted little time in establishing itself as a force in the growing US industry.
Big Name Operators Leading the Way
DraftKings and FanDuel were once again the two operators that brought in the most sports betting handle last month. These two operators combined for a little more than 63 percent of all the sports betting handle, which has been a common trend.
DraftKings is currently the top online sportsbook in Indiana, bringing in more than $95 million in wagers last month. FanDuel chipped in with $64.2 million, but that operator has fallen well behind its rival.
As the NFL and college football seasons are both in action, football was by far the most popular sport to bet on in Indiana last month. Football brought in almost $114 million in wagers, and parlay betting was the next most popular option with $66.05 million in wagers.
As the calendar flips to 2021, there will be another big-name operator set to enter the Indiana market. 888 Holdings has announced that it has received market access in Indiana through a partnership with Harrah’s Hoosier Park in Anderson.
888 Holdings is an international sports betting operator that has already launched its 888Sport Sportsbook in three states throughout the United States. It’s unclear when this sportsbook will be available in Indiana, but it should happen at some point in the first quarter.