Indiana sportsbooks have seen a successful September for both betting handle and sports betting revenue. The Indiana Gaming Commission reports that $382,507,081.40 was wagered. Of that, sportsbooks saw $51,173,153.70 in taxable adjusted gross revenue (AGR).
This is the most revenue sportsbooks in Indiana have reported since launch. The previous record was $47.7 million set in November 2021.
Indiana Sports Betting Revenue Success
To put Indiana’s successful September into perspective, this is only the second time the Hoosier State saw over $40 million in revenue. This comes from a 13.4% hold; the second highest since launch and the highest in the mobile betting era.
The $51 million revenue number also makes Indiana the eighth market to see more than $50 million in revenue for a single month. Sportsbooks in Indiana benefitted greatly from the start of the NFL and college football seasons.
The state itself also benefitted, collecting $4,861,449.56 in taxes.
Betting Boom In Indiana
Year to date, Indiana is the seventh-largest sports betting market in the USA. Since January, the Hoosier state has seen $3.14 billion wagered at local sportsbooks. Indiana only trails New York, New Jersey, Illinois, Nevada, Pennsylvania, and Arizona in terms of betting handle.
A lot of this large betting success can be attributed to fans of the Indianapolis Colts. This alone brings in a lot of wagers weekly at local sportsbooks. Indiana is also home to 10 D1 colleges with football teams. In particular, the Notre Dame Fighting Irish and the Purdue Boilermakers rake in a lot of wagers throughout the NCAAF season.
Football accounted for $153,873,531.97 of the total betting handle in September which was more than 40% of all wagers. Indiana’s market was truly carried by football wagers in September. These numbers are expected to continue to grow as the NBA and college basketball seasons approach.
Indiana is also a strong basketball state with the Indiana Pacers and the Indiana Hoosiers raking in a large following. Sports fans will be embracing these local teams as well going forward. Indiana sports betting is expected to continue to rise in the coming months. It is not a farfetched thought to assume that the revenue record will be broken sooner than later.