For the past few months, we have seen new states entering the sports betting market in the US. In the beginning, most states start with retail sports betting and then choose to launch mobile options. States that provide mobile sports betting, like New Jersey and Pennsylvania, end up with massive increases in betting handle and revenues because players love the convenience of mobile gaming. Indiana launched their mobile offering in October and the month’s totals show how important the online component really is.
A Massive Increase in Betting
For October, Indiana sportsbooks saw an uptick of betting handle by a whopping 160% when compared to September. A total of $91.7 million was wagered on sports betting and mobile betting help to push the number to crazy heights.
DraftKings was the dominating operator for the state, seeing $39.3 million in betting handle. The amount makes up 43% of the total for almost the entire month of October. BetRivers was new to the market in October, launching at the beginning of the month, but they only brought in $6.3 million in wagers. FanDuel launched their sportsbook towards the end of October and still managed to earn $2.4 million in bets.
As far as revenues are concerned, the state earned $11.5 million from the wagers placed. Players stuck to football wagers for the most part, with NFL and college games accounting for around 45% of the total handle.
Considering the huge percentage change from September to October in Indiana is a prime example as to why states that legalize sports betting need that mobile component. Depending on the state, there may be a handful of casinos or gaming facilities that can offer retail sports betting. Players must be located near these venues to place wagers.
With mobile betting, players can be located hours away from a casino and it doesn’t matter, because a wager can easily be placed via desktop or smartphone. The convenience factor is a huge plus for players. Most people are sports fans in some form or fashion. With mobile sports betting, players can be at home about to watch a game and choose to wager from their couch, in their underwear if they so choose!
The ease of use makes players place a bet and come back for more again and again. It will be interesting to see how the numbers fare for the state’s new industry as we go into November and December. FanDuel will have a full month of operations in November and by December, we should have a better idea as to how the brand will contribute to overall handle and revenue totals.
For now, Indiana is benefiting from players located in Illinois and Ohio. Illinois has been slow to get started and Ohio has yet to even legalize the option. This has provided additional betting for Indiana as players cross state lines to place their wagers. The revenue numbers may change slightly for the state once Illinois gets started.