- Indiana sports betting handle was up more than $20 million for October over September’s reported figures.
- Sports bettors in Indiana preferred mobile applications like DraftKings and BetMGM, who did the most business when compared to other internet platforms for the month.
- Over 80% of Indiana’s $230.9 million October handle changed hands through the use of mobile sportsbooks.
INDIANAPOLIS – Handle and revenue for the sports betting industry of Indiana continue to rise as the latest reports released on Tuesday by the Indiana Gaming Commission (IGC) for the month of October have shown.
The Hoosier State worried that once their neighbor Illinois launched its sports wagering market that they would begin to lose customers to the competition.
However, figures would indicate that Indiana sports bettors are gambling on sporting events using local sportsbooks just fine and allowing the market to hold its own against neighboring industries.
The Breakdown For October
The October sports betting report released by the IGC shows a combined total handle of $230,932,251 gambled on a variety of sports for the month.
Of that money, $21,098,460 was made in revenue. The additional sports wagering tax was able to hold $2,004,354 for October wagers. The NFL received the most action with $84,727,557 worth of bets placed on the games by Hoosiers.
Mobile platforms accounted for 83.6% of all wagers made by Indiana sports bettors for a total of $193 million worth of action seen through the use of these outlets. Almost $40 million came from retail locations.
But with the Coronavirus Pandemic and all of the health safety guidelines being implemented at establishments, gamblers are beginning to prefer internet and mobile sportsbooks now more than ever.
The combined figures were up over $20 million from September’s handle of $207,450,106. Again, football reigned supreme for the most betting action. Indiana loves football, especially when it comes to the Indianapolis Colts.
Due to Illinois being the slowest in the nation for legal sports wagering markets to release their reports, it is unknown how well they did when comparing them to Indiana. Illinois did however take $140 million in wagers for August prior to the start of the NFL season so it would be a safe bet that they’ve done just as well or even exceeded the numbers seen by Indiana’s market.
Will Sports Betting Continue To Surge In Indiana?
Many factors could see the continued upswing in sports betting revenue for Indiana. The center of the NFL season coming up and the popularity of football in the Hoosier State is one factor.
Others include the business that Indiana receives from Ohio, who currently lacks a sports betting industry of their own. There is also the addition of more mobile sportsbooks in the future for Indiana that will potentially increase activity as gamblers in the state prefer these platforms over retail books.
That is evident with over 80% of all activity in October being done with the use of them. More mobile applications will ultimately attract more players to wager on sporting events and that will lead to a domino effect of more revenue and more handle for the state of Indiana and its sports wagering industry.
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Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.