The sports betting industry in Indiana is alive and well, as the state set new records during September in both betting handle and total revenue. For September, the sports betting handle totaled more than $207.4 million, which was a 22 percent increase from August.
Indiana started to show a bounce-back in the industry during August when the state brought in just over $169 million in sports betting handle. Sports betting revenue was also up to $14.28 million in September, which was a jump of more than 45 percent.
There are currently nine sports betting operators in Indiana, but FanDuel was one of the leaders in the market. Mobile betting accounted for more than 86 percent of all the wagers placed.
Football was the most popular sport to bet on in September, which is not a surprising outcome. The National Football League began the 2020 season last month, and that is the most popular league on which to place bets.
Football bets accounted for $48.4 million in handle during September, while basketball bets accounted for $34.2 million. Baseball was the third most popular sport to bet on last month, accounting for just over $30 million in total wagers.
Retail Betting Also Up
Online or mobile betting continues to be the most popular way to bet on sports in Indiana, but retail sports betting also increased during September. The retail sports betting handle was reported at $28.47 million last month, which was an increase of more than 13 percent.
Taxes collected from the entire gaming industry also improved during September, as the state brought in $34.25 million in tax revenue. That was a growth of close to ten percent, as Indiana raked in $31.3 million during August.
The casinos did not fare as well during September as they did during August, but they only saw a slight decrease in revenue. The total casino win was reported at just over $170 million in September, and the August report was at $173.1 million.
Casinos and sportsbooks are back up throughout Indiana, but they are all operating under strict health and safety protocols, including running under limited capacity. As these restrictions are lifted or loosened, the retail betting numbers should continue to grow. Unfortunately, this may take some time, as Indiana’s COVID-19 new case count continues to climb.
Midwest Continues Betting Growth
The Midwest portion of the United States has seen tremendous growth in the sports betting industry over the last 12 months, especially in 2020. Indiana now has plenty of competition as Iowa, Illinois, and Michigan all offer sports betting.
Iowa is the only other state in the Midwest to release its sports betting numbers for September, but that state also set a new record. Sports betting handle in Iowa last month was reported at $72.4 million.
The total marks an all-time high for Iowa, and the entire sports betting handle increased by more than 43 percent from August. Mobile handle accounted for just over $50 million of the September total for the state of Iowa.
Michigan is set to launch online sports betting later this year, and its retail sports betting industry has started to pick up. That state launched the industry in March, just as the COVID-19 pandemic was hitting the US.
Illinois now has five online sports betting apps available to sports bettors, and that state has seen tremendous growth as well. Illinois is a considerable threat to Indiana, as the two states share a border and share sports betting customers.