DraftKings top Indiana operator as state posts record revenue

Indiana Online Gaming
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Indiana sportsbooks reported record revenue in January despite a drop in betting handle.

According to data provided by the Indiana Gaming Commission, sportsbooks in the state reported a total handle of $480.6 million in January, down from $503.1 million for the month prior. Despite the month-over-month decline, Indiana operators saw their accepted wagers improve last month compared to January 2023’s handle of $426.5 million.

The Hoosier State posted a month-over-month decline in revenue in January but reported a record $53.5 million in revenue for the month behind an 11.1% hold. In comparison, Indiana posted $50.6 million in revenue in December 2023. The results in January eclipsed September 2022’s previous record of $51.2 million in revenue but also made history as the first time Indiana’s monthly revenue has surpassed $50 million in consecutive months.

DraftKings, which partners with Ameristar Casino in Indiana, closed January as the state’s top sportsbook with a $181.3 million handle, up from a $179.7 million in December 2023.

Blue Chip Casino partner FanDuel finished with the second-highest handle in January with $160 million in accepted wagers compared to $171.1 million for the month prior.

Despite DraftKings emerging with the highest handle, the Boston-based operator generated $18.6 million in adjusted gross revenue in January, while FanDuel saw revenue reach $23.2 million. DraftKings paid $1.7 million in wagering taxes, while FanDuel dished out $2.2 million.

Indiana is home to 13 online sportsbooks, including bet365, which launched operations in the state last month. The British operator gained market access in the Hoosier State through a partnership with French Lick Casino. As of Feb. 16, bet365 is live in nine states.