Indiana’s retail and online sportsbooks capped their inaugural year in the state by surpassing US$160m in bets in a month for the first time.
Indiana’s record handle in December pushed the state to more than $430m in bets since the first wager was accepted in September – a staggering pace that has set the stage for a momentous 2020, according to analysts from PlayIndiana.
“Indiana’s ascent to one of the largest sports betting markets in the country has been impressive by most any measure,” said Dustin Gouker, lead analyst for PlayIndiana.
“The question for 2020 is whether Indiana can sustain its rate of expansion, especially as neighbouring states become more likely to legalise sports betting. That has already happened in Michigan, which could take a bite out of the handle at some of northern Indiana’s retail sportsbooks.”
In December, the state’s retail and online sportsbooks generated a combined $161.8m in bets, up 10 per cent from November’s $147.3m handle. December’s handle produced $12m in adjusted gross revenue, up 29 per cent from $9.3m in November. The “win” yielded $1.1m in tax revenue for the state.
Generating $433.4m in bets and $42.7m in revenue since launch, Indiana sportsbooks now trail only Nevada, New Jersey, and Pennsylvania.