The sports betting industry in Indiana posted massive betting numbers in August, and this trend will likely continue into September. Sports betting handle jumped almost 140 percent up to $169 million in August, and the return of live sports played a huge role in that boost.
Sports betting revenue was also up more than 47% in August, and the state reported a total revenue of close to $10 million. Indiana is starting to see numbers that were similar to those being reported before the pandemic hit.
August is typically a slow month for the sports betting industry, but COVID-19 has shaken up the schedule. Typically, Major League Baseball is the only sport in August, and sportsbooks don’t see a ton of action on it.
The NBA and NHL Playoffs were also going on during August, and there were days where the action took place for more than 12 straight hours. Indiana has favorable laws that allow sportsbooks to take action on a wide range of sporting events.
Iowa and West Virginia have also reported their figures from August, and those two states saw a considerable increase as well. Sports betting handle in Iowa was up more than 120% and nearly tripled in West Virginia.
New Jersey has yet to announce its August sports betting handle and revenue, but that market saw a huge jump from June to July. New Jersey has emerged as one of the top sports betting markets in the United States.
Basketball Dominates August, Football Coming in July
During August, it was the sport of basketball that brought in the most amount of bets. This is the first time one individual sport has led in betting handle since March.
Basketball brought in more than $55.2 million during August, and parlays were second with $43.6 million. The “other” category was third on the list with more than $36 million in betting handle.
The “other” category in Indiana includes everything except for baseball, basketball, football, and parlays.
Illinois Providing Competition
If Indiana can continue to grow its sports betting industry, it will have to do so against some stiff competition from Illinois. The Midwest portion of the United States has seen tremendous growth over the last few months, and Illinois is starting to emerge as a considerable threat.
The casinos and retail sportsbooks are now up and running in Illinois, and the mobile sports betting industry is taking off as well. PointsBet Sportsbook just launched this past weekend, making it four online operators in the state.
Illinois has been able to attract some of the biggest names in the industry, and that will likely keep bettors from traveling across the border to Indiana. The Hoosier State has been able to attract customers from Chicago, but those bettors will now likely remain in Illinois.