Indiana posts $503M betting handle in December amid regional competition

Indiana December 2023 Revenue
Image: Shutterstock

The Indiana sports betting market posted a significant jump in revenue to end last fiscal year.

According to data provided by the Indiana Gaming Commission, sportsbooks in the Hoosier State reported a total sports betting handle of $503.1 million in December 2023, up from $431.4 million for the same period the year prior. Indiana posted year-over-year growth in handle despite neighboring Kentucky emerging as a new sports betting market last September.

Indiana has also had to compete with Ohio, which authorized sports wagering in January 2023.

Indiana’s sports betting handle in December 2023 was led by parlay wagers, which made up $205.7 million of the total handle. Basketball closed as the second-most popular wager in Indiana throughout the month with the state collecting $133.1 million in basketball bets.

DraftKings, which partners with Ameristar Casino in the Hoosier State, emerged as the state’s top sportsbook with a total betting handle of $179.7 million in December 2023 — up from $137.6 million in December 2022. FanDuel — the largest sportsbook in America in terms of market share — reported the second-highest handle in Indiana for December 2023 at $171.7 million. FanDuel, which had a $138.2 million handle in December 2022, partners with Blue Chip Casino.

Indiana’s 12 online and retail sportsbooks generated $50.6 million in adjusted gross revenue in December 2023 compared to $30.7 million for the month prior. The results last December were also an increase from the $42.7 million in gross revenue in December 2022.

DraftKings saw revenue reach $19.3 million in December, while FanDuel posted $18.1 million in revenue. In comparison, DraftKings reported $12.7 million in revenue in December 2022. FanDuel saw revenue close at $15.9 million for the same month.

ESPN Bet is the latest operator to gain access in Indiana following a rebrand from Barstool Sportsbook last November. The Hoosier state is also home to BetMGM, BetRivers, Hard Rock Bet, and others.