Following the release of November’s Indiana sports betting revenue report, the Hoosier State has reached another milestone. Indiana is now the sixth state to report a lifetime sports betting handle of more than $10 billion. The report shows $452.3 million was wagered in November.
Indiana Betting Continues To Thrive
Indiana joins Illinois, Nevada, New Jersey, New York, and Pennsylvania as the only markets to see $10 billion in bets. With Indiana going live in September 2019, it took sports bettors just over three years to reach this milestone.
The November betting handle pushed the market to the total with operators seeing an uptick in betting activity. The Indiana Gaming Commission (IGC) also reported that sports betting handle was 20% higher year over year compared to November 2021.
Indiana sportsbooks took in $39,971,908 in adjusted gross revenue (AGR) with the state seeing $3,797,331 in taxes for November 2022. Sports betting revenue is up 22.9% compared to last year. Sportsbooks saw an 8.8% hold rate on sports betting for November.
FanDuel And DraftKings Dominate Indiana Betting
The dominating sportsbooks in Indiana for November were DraftKings and FanDuel. DraftKings reported the most wagers with $148,446,424 wagered. This was followed by FanDuel’s $141,573,896. The operators saw $9,825,366 and $18,025,894 in AGR respectively. FanDuel saw more revenue despite coming in second in betting handle.
Online sports betting continues to be the primary way locals wager. Of the $452.3 million total handle, $415.7 million came from online and mobile betting apps. This is responsible for 91.8% of the total market in November.
Online sports betting has been the driving betting force for Indiana since its launch. This has aided the Hoosier State in reaching the $10 billion total betting handle milestone. The November Indiana sports betting report reveals that the main source of betting revenue in Indiana is online betting.
Indiana is expected to continue its successful run in 2022 with December’s report. The college football bowl games as well as the NFL and NBA seasons will likely lead to a spike in activity. Indiana has established itself as a major player in the sports betting arena.