Indiana sportsbooks have started 2022 in good form as they generated more than $500m in wagers in January, according to PlayIndiana, which tracks the state’s gaming industry.
The Hoosier State joins New York, New Jersey, Nevada, Illinois, Pennsylvania, and Michigan as the only states to generate more than $500m in wagers over a single month.
The activity has helped the state surpass the $500m in revenue milestone, as well as close in on $50m in total tax dollars generated for the state.
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIndiana.com, stated: “Indiana continues to punch above its weight class, remaining a model of success and a role model for other states to follow.
“As an example, Ohio regulators have drafted a particularly strong framework for that state’s impending launch of sports betting, and it is no coincidence that it draws upon the blueprint Indiana put together years ago.”
Indiana sportsbooks were helped in January by interest in the NFL playoffs, witnessing $500.1m in wagers ($458.3m online), up 8% from December’s $463.0m and a 43.6% improvement year-over-year (January 2021: $348.2m).
Last month’s handle also topped the previous best handle record of $463.7m that was wagered in November 2021.
The Hoosier State’s sportsbooks took $29.3m in January revenue, up 12.6% on the previous month (December 2021: $26.0m) but down 7.5% YoY (January 2021: $31.7m). The state received $3.4m in tax revenue as well.
Jake Garza, the lead analyst for PlayIndiana.com, said: “Sportsbooks benefited greatly from the extra week of regular-season games, and the expanded NFL playoffs were a winner for sportsbooks.
“The month will likely be the highwater mark for the foreseeable future, unless the NCAA Tournament can draw comparably huge numbers, too. Regardless, what a football season it has been.”
The state’s sportsbooks have now earned $514.9m in revenue since launching in 2019, injecting $49.5m into state coffers to date.
In terms of online sportsbooks, DraftKings led the way with $162.1m in January wagers, yielding $9.5m in revenue. FanDuel followed with $127.2m, producing $7.6m in revenue.
Hollywood Lawrenceburg saw the most retail sportsbook action in January with $13.2m in wagers, a record for retail sportsbooks.
