Indiana sports betting market continues to grow in February

Indiana’s mobile sports betting market growth is beginning to outpace even the biggest US markets.

According to figures from the Indiana Gaming Commission (IGC), Indiana’s legal and regulated sports betting market saw $182.7m wagered in February, a 9.6% increase on the $170.8m wagered in January.

The majority of the state’s revenue, once again, came from online and mobile betting apps with bettors wagering $145.9m (77.9%) via these platforms. Despite the growth in betting handle, revenue slipped 13.7% to $11.1m in February, from the $12.9m generated in January.

Indiana was one of the few states with legal betting that did not reveal how much money was wagered on the 2020 Super Bowl, but these figures were included in the latest report, and show that sportsbooks took $11.6m on the event.

Breaking down the figures

Looking closer at the figures, the Penn National Gaming’s Ameristar East Chicago venue, and its online partner DraftKings Sportsbook, continued to lead the Indiana betting market in February. Consumers wagered $74.1m on sports with DraftKings, up 12.3% on DraftKings’ handle in January while the land-based sportsbook processed $5.9m in bets. The Ameristar venue reported just over $6m in revenue from sports betting operations.

Boyd Gaming’s Blue Chip Casino, and FanDuel Sportsbook, appear to be catching up with DraftKings after coming in second place in February. Bettors in the state wagered $63.8m online with FanDuel and an additional $2.1m at the land-based sportsbook. In terms of revenue, the licensee managed to generate just $2.06m from sports betting activity in February.

Despite not having an online sports betting platform, Caesars Entertainment’s Horseshoe Hammond came in third place in February after processing $12.4m in bets and generating $1.1m in revenue.

BetRivers, Rush Street’s sportsbook, which was the first online sportsbook to enter the market in October 2019, processed $7.7m in online sports bets and an additional $387,656 in land-based wagers. From these bets, the operator held onto just $375,898 in revenue which represents a 37.8% month-on-month decline in revenue.

Sports betting in Indiana

Indiana became the tenth state to legalize sports betting following the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018.

The state’s Governor, Eric Holcomb, signed HB 1015 into law in May 2019, legalizing land-based and state-wide mobile sports betting in the state of Indiana. Bettors can sign up for online sportsbook accounts remotely, from anywhere within the state. Sports betting went live in Indiana on 1 September 2019, at the Ameristar Casino Hotel East Chicago, the Hollywood Casino & Hotel Lawrenceburg and Indiana Grand Racing & Casino

At the time of writing, bettors in the Hoosier State have several online sports betting options which include, DraftKings, FanDuel, BetRivers, BetAmerica, PointsBet and BetMGM.

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