Sportsbooks in Indiana ended 2021 with a busy December, producing more than $25m in revenue on more than $460m in wagering, according to PlayIndiana, which tracks the state’s gaming industry.
Although the handle was just short of the record achieved in November, December’s action capped a groundbreaking year in the Hoosier State that produced nearly $4bn in wagers.
Jake Garza, an analyst for PlayIndiana.com, commented: “This fall has been so impressive for sportsbooks that it almost seems like anything other than a record month is a surprise. In context, sportsbooks remained near all-time highs for wagering and revenue, continuing a remarkable four-month stretch in which wagering was up 73.8% year over year.”
In December, Indiana’s sportsbooks generated $463m in wagers, up 47.9% from $313.1m in December 2020, according to official reporting. Wagering fell just short of November’s $463.7m record handle as betting volume slowed to $14.9m per day (November: $15.5m per day).
Sportsbooks gained a revenue of $26m during the month, an 18.2% improvement year-over-year (December 2020: $22m), but this number was far off November’s record $47.1m. The month produced $25.8m in taxable revenue, yielding $2.5m in state taxes.
In 2021, Indiana sportsbooks generated $3.8bn in wagers, up 116.4% YoY (2020: $1.8bn), likely placing the Hoosier State seventh in betting volume among legal sports betting jurisdictions in the US.
Gross revenue on the year hit $307.6m, a 125.5% increase YoY (2020: $136.4m), while $3.4bn was wagered online alone, a 132% improvement YoY (2020: $1.5bn), and $29m was produced in state taxes, growing 120.6% YoY (2020: $13.2m).
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIndiana.com, stated: “2021 should be remembered as the year in which people fully embraced online sports betting, especially after a tumultuous 2020. As impressive as the year was, though, the market is not done growing.
“Sportsbooks are still reaching new customers and operators are offering increasingly innovative products. Meanwhile, Hoosiers are becoming more comfortable with sports betting in general, and more open to less conventional forms of wagering such as in-game betting.”
Online wagering in December generated $422.8m (91.3%) of the month’s handle, with the remaining $40.2m coming from the state’s retail sportsbooks.
DraftKings led the state’s online market with $148.2m (November: $166.2m), earning $6.4m in gross receipts (November: $12.6m). FanDuel was second with $120.5m online (November: $109.8m) beating all operators in gross receipts with $7.5m (November: $15.6m).
Hollywood Lawrenceburg led the state’s retail sportsbooks with $13.9m (November: $12.7m), followed by Ameristar East Chicago ($5.7m), Indiana Grand ($4.9m), Harrah’s Hoosier Park ($4.7m), and Horseshoe Hammond ($4.5m).
Garza added: “The biggest question for the year ahead for operators is what effect legalization in Ohio will have on Indiana’s sportsbooks, especially retail sportsbooks near the state border.
“The Hoosier State has managed to expand even as sports betting in Illinois and Michigan have expanded, and should continue to flourish even with increased competition from another neighbor.”