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Indiana Sportsbooks Shatter Record with $230 Million in October

Indiana sportsbooks enjoyed a record-shattering October, setting highs in revenue and handle, as bettors were spurred by local interest in the NFL and the return of Big Ten football. In a month that resembled a normal sports schedule more than any month since the pandemic began, October’s handle was more than $230 million, a sign that Indiana’s recent gains are sustainable, according to analysts from PlayIndiana.

“With a schedule that was more comparable to an ordinary October, Indiana’s sportsbooks fared well and offered a clearer read on where Indiana’s market stands,” said Dustin Gouker, lead analyst for PlayIndiana.com. “Interest in the Indianapolis Colts, Indiana University, and Notre Dame is helping as the state transitions from a market that relies on Chicago to one that is more reliant on local bettors.”

Without a once-in-a-lifetime schedule to drive interest, as was the case in September, bettors still made $230.9 million in bets in October, according to official reporting released Tuesday. That breaks the record $207.5 million hit in September and is up 151.8% from $91.7 million in October 2019.

October’s bets also produced a record $21.1 million in adjusted gross revenue for the state’s operators. That is up 82.9% from $11.5 million in October 2019 and easily surpassing the record $14.3 million in revenue generated in September. The month’s revenue yielded $2 million in taxes in October.

Indiana has now generated $1.6 billion in bets since launching in September 2019, but the state was topped in September by both Colorado and Illinois to fall to sixth. However, the state is becoming less reliant on the Chicago market. Bets on the Colts and the surprising Hoosiers fueled $84.7 million in bets on football.

And sportsbooks continue to be imaginative with the types of bets they offer, including offering odds on the Halloween Candy Bowl, a professional candy eating contest held in Las Vegas in late October.

“The market continues to sustain itself by being innovative, which is going to be critical as competition from neighboring states such as Illinois and Michigan increases,” said Jessica Welman, analyst for PlayIndiana.com. “Wringing a few extra dollars from Joey Chestnut downing candy corn might not be a game-changer on its own. But it is a sign of a larger strategy by sportsbooks to diversify their boards in interesting ways.”

Indiana Sportsbooks Off $165 Million In April Bets, Hitting Low Point, According to PlayIndiana.com

Indiana sportsbooks suffered their worst month ever in April — including a retail sector that did not produce a single bet — costing sportsbooks an estimated $165 million in bets, according to estimates from PlayIndiana.

With a minimized schedule of sports to bet on and casinos closed for the entire month, Indiana generated just $26.3 million in wagers, according to official reporting released Monday. During a month in which online and retail sportsbooks would have expected to draw at least $190 million in bets, April’s handle was down 64.8% from $74.8 million in March. That’s the lowest monthly handle ever for Indiana sportsbooks.

“April’s results are shocking, but not at all surprising,” said Dustin Gouker, chief analyst for PlayIndiana.com. “Bettors have very few places to turn in Indiana. In some states, online casinos have driven significant revenue. But that isn’t possible in Indiana. So the industry’s results will continue to be grim until the sports world figures out a way to reopen.”

April’s wagers still produced $5.5 million in adjusted gross revenue, essentially even with March. That yielded $522,085 in state taxes.

Without legal online casino games, poker, or esports betting, bettors in Indiana have largely been limited since mid-March to fringe international sports and futures betting. In fact, $21 million of the state’s handle was generated by “other” sports, far more than football, basketball, and baseball.

The NFL Draft gave bettors some reason to engage with sportsbooks in April. Indiana, the first state to allow betting on professional sports drafts, generated $1.3 million in football-related wagers in April.

“The shut down of sports has led to some creativity by Indiana’s bookmakers, and that creativity was rewarded with interest in the NFL Draft,” said Jessica Welman, analyst for PlayIndiana.com. “Even though Indiana has missed out on some opportunities, regulators have at least been nimble enough to allow some unconventional ideas.”

There are reasons for cautious optimism. NASCAR is planning on revving up in May, which could draw betting interest. The PGA Tour is planning a June tee off while baseball and the NBA continue to search for a workable solution to restart their seasons. In addition, Indiana’s casinos and retail sportsbooks could open as early as June 14.

“It could be that April is the low point in what will undoubtedly still be a struggle until sports can resume with their regular schedules,” Gouker said. “If sports do resume relatively soon, online sportsbooks should recover quickly. In the meantime, sportsbooks will continue to look for creative ways to drive revenue.”

BetMGM Free-to-Play Daily Trivia Game Live – Daily Prize Up To $500

Diehard sports fans may not have action on the tube to check out, but they can still show off their expertise thanks to BetMGM. Its all new Free to Play Quiz is live for BetMGM NJ and BetMGM Indiana users. Players can compete for daily prizes up to $500 by answering sports and pop culture questions correctly. We’re working closely with state regulators in West Virginia and are hoping to be live in the state in the coming days.

How it works: Every day BetMGM will feature a new category consisting of 10 questions, with a 10 second clock. As long as they answer the question right, users will be able to keep playing for the day. One incorrect answer and your game ends. Answer every question correct and compete for a daily prize of up to $500 (prize to be split amongst all trivia winners). The quiz is available daily between 9am and 11:59pm ET. Players can only participate once per day, with the quiz leaderboard changing each week. Your total amount of correct questions answered throughout the week (Monday to Sunday) will automatically qualify you for the weekly leaderboard. Earn 1 point for every question you’ve answered correctly. The Top five (5) each week will receive an additional cash prize.

Leaderboard Structure

· One week leaderboard (Monday-Sunday)

· Players receive one leaderboard point per question they answer correctly

· Leaderboard Prize Payout (split amongst all top scoring users)

o First place: $1,000

o Second Place: $500

o Third Place: $250

o Fourth Place: $150

o Fifth Place: $100

Indiana Sportsbooks Lose Out on $125 Million in March Wagers, According to PlayIndiana.com

Indiana’s retail and online sportsbooks were hit hard in the first weeks of the coronavirus shutdown, costing the state an estimated $125 million in wagers in March, according to PlayIndiana. And with no immediate end in sight, the industry will continue to navigate treacherous waters in the months ahead.

“This is an unprecedented stoppage for legal sportsbooks, and there is no playbook for them to follow to help manage the crisis,” said Dustin Gouker, lead analyst for PlayIndiana.com. “Obviously, the sports betting industry is just one facet in a crisis that is affecting us all, too often tragically. But it is a business that employs hundreds in Indiana and generates millions in state taxes. And the bottom line is that there will be no significant relief until the sports world begins to open back up.”

Indiana appeared to be headed for its first month of more than $200 million in bets. Instead, the state’s retail and online sportsbooks collected just $74.8 million in March wagers, down 60% from the record $187.2 million in February, according to official reporting released Thursday. Almost all of the handle was generated before March 11, when the sports world began to shut down.

March’s bets produced $5.5 million in adjusted gross revenue, down 50.5% from $11.9 million in February, and yielded $522,0825 in tax revenue for the state.

The loss of the NCAA Tournament proved particularly damaging. Indiana sportsbooks could have generated more than $50 million in tournament-related wagers, PlayIndiana estimates.

“There is no way to replace the revenue that would have been generated from the NCAA Tournament, which in legal jurisdictions generates more action than the Super Bowl,” said Jessica Welman, an analyst for PlayIndiana.com. “The NCAA Tournament can’t be rescheduled, but professional leagues are beginning to draw plans to begin games again. We still don’t know what that looks like or when it will happen. Whether spectators are there to watch in-person or not, though, online sportsbooks should again be able to attract bettors, which will be welcome news for the industry.”

The silence of sportsbooks could change in a minor way. Sportsbooks are now accepting bets on the WNBA and NFL drafts.

“We don’t expect a lot of betting on the WNBA and NFL drafts, but we suspect that each will draw more interest than either would under ordinary circumstances,” Welman said. “People are looking for some sense of normalcy while they practice social distancing, and the drafts and futures betting is providing at least some outlet for bettors.”

In March, online sportsbooks generated 81.3%, or $60.8 million, of the state’s handle. DraftKings/Ameristar Casino led the market with $33.1 million in bets, down from $74.1 million in February, and generated $2.4 million in gross receipts. Horseshoe Hammond led the retail market with $3.4 million in bets, down from $12.4 million in February. That generated $211,475 in gross receipts.

“Online sportsbooks will bounce back more quickly than their retail counterparts, which face a much more uncertain future as the coronavirus pandemic continues,” Gouker said. “In states where online casino games and poker are legal, such as New Jersey and Pennsylvania, casino operators have had a bit softer landing. But Indiana has really borne the brunt of this crisis, unfortunately.”

For more revenue information, visit PlayIndiana.com/revenue.

BetMGM Launches Sports Betting App in Indiana

Roar Digital, LLC – the joint venture between MGM Resorts International and GVC Holdings – announced today that BetMGM, a leading mobile sports betting app, is now accepting wagers throughout Indiana. BetMGM is entering Indiana through a market-access agreement with Boyd Gaming.

“Introducing BetMGM in Indiana is a significant development for Roar Digital and MGM Resorts,” said Scott Butera, President of Interactive Gaming for MGM Resorts. “Indiana has a rich history in professional and amateur sports and a strong fan base. We believe that the sports betting opportunities offered by BetMGM, and access to MGM’s world-class entertainment offerings and resorts, will be well-received.”

BetMGM offers unique product features, such as in-app, livestreamed sports events from around the world. In conjunction with today’s launch, Indiana bettors will enjoy promotions only available within Indiana, affording ample opportunity to bet on professional as well as collegiate sports through a variety of pre-match, in-play and player proposition wagers.

“We’re excited to launch BetMGM in a state as passionate about sports as Indiana is and look forward to seeing fans in the state take advantage of our unique in-app offers,” said Adam Greenblatt, Chief Executive Officer, Roar Digital. “Indiana marks an incredibly important expansion for us as we look to solidify our presence in the Midwest and continue to bring BetMGM to new states in the US.”

Indiana is BetMGM’s third U.S. market entry, following New Jersey and West Virginia. Available for download on both iOS and Android and accessible via desktop, BetMGM leverages an exclusive betting engine that allows fans to place bets quickly and with ease. Sports bettors have access to a wide assortment of betting markets on BetMGM, including football, basketball, baseball, hockey, golf, soccer, tennis and combat sports.

Indiana Sportsbooks Hit $160 Million December

Indiana retail and online sportsbooks capped their inaugural year in the state by surpassing $160 million in bets in a month for the first time. Indiana’s record handle in December pushed the state to more than $430 million in bets since the first wager was accepted in September, a staggering pace that has set the stage for a momentous 2020, according to analysts from PlayIndiana.

“Indiana’s ascent to one of the largest sports betting markets in the country has been impressive by most any measure,” said Dustin Gouker, lead analyst for PlayIndiana. “The question for 2020 is whether Indiana can sustain its rate of expansion, especially as neighboring states become more likely to legalize sports betting. That has already happened in Michigan, which could take a bite out of the handle at some of northern Indiana’s retail sportsbooks.”

In December, the state’s retail and online sportsbooks generated $161.8 million in bets, up 10% from $147.3 million in November, according to official reporting. December produced $12 million in adjusted gross revenue, up 29% from $9.3 million in November. The “win” yielded $1.1 million in taxes for the state.

Indiana sportsbooks have now generated $433.4 million in bets and $42.7 million in revenue since launch, and is easily the fourth-largest sports betting marketing in the country. January should bring more growth. Football betting has accounted for $178.6 million since launch and $59.1 million in bets in December, and that will likely surge with the NFL Playoffs. Basketball, which has tallied $82.2 million since launch and $42.3 million in December, should grow as college basketball enters conference season and the NBA season heats up.

“With the NFL Playoffs at hand and college basketball in full swing, it is possible that Indiana will surpass $1 billion in bets by March, making Indiana one of the quickest legal U.S. jurisdictions to reach that mark,” Gouker said.

The relatively rapid growth of Indiana can be attributed to the adoption of online sports betting earlier than states such as Pennsylvania. In Indiana, $110.6 million of December’s bets were made online representing 69.5% of the state’s total handle, up from 65% of the November handle.

BetAmerica, operating under the Rising Star Casino license, became Indiana’s fourth online sportsbook when it launched in late December. Still, DraftKings, which operates under the Ameristar Casino license, led the online market once again in December. DraftKings attracted $66.7 million in bets, up from $64.1 million in November, and generated $5 million in gross receipts, up from $4.3 million. DraftKings was followed by FanDuel/Blue Chip Casino, which generated a $36 million handle in December, up from $23.7 million, and a $2.2 million win.

Once again, the top retail sportsbooks were those closest to large out-of-state markets. The top retail sportsbook in Indiana continues to be Horseshoe Hammond, near Chicago. The market leader generated $13.4 million in December, up from $13 million in November. Those bets generated $1.1 million in gross receipts, up from $800,208.

“Indiana’s strong start is unquestionably tied to the state’s relatively early launch of online sports betting,” Gouker said. “Online sports betting should make up an increasing share of the state’s handle, too. That will help steady Indiana’s sports betting industry, even as increasing competition from neighboring states affect retail sportsbooks, which is inevitable.”

For more revenue information, visit PlayIndiana.com/revenue.

Online Betting Helps Indiana Sportsbooks Draw $91.7 Million in Bets in October

Buoyed by Chicago-area bettors and boosted by the launch of DraftKings and FanDuel online sportsbooks, Indiana’s online and retail handle in October nearly tripled from the previous month, according to PlayIndiana.com analysts.

“Indiana is quickly becoming a star among legal sports betting markets in the U.S.,” Dustin Gouker, lead analyst for PlayIndiana.com. “Indiana is so far ahead of its neighbors in Illinois, Ohio, Kentucky, and Michigan, that the Hoosier State is well on its way to establishing itself as the gambling capital of the Midwest.”

Indiana’s retail and online sportsbooks combined to collect $91.7 million in bets in October, up 161% from $35.2 million in retail bets in September, according to official report released Friday. The handle, 45% of which came from football bets, yielded $11.5 million in adjusted gross revenue for the sportsbooks, up 34% from $8.6 million September. October’s win generated $1.1 million in tax revenue for the state.

One doesn’t have to look far to understand what fueled Indiana’s growth. BetRivers Sportsbook, under the French Lick Resort license, was joined by heavyweight DraftKings, under the Ameristar Casino license, in early October as the first to launch their virtual windows. FanDuel, the largest online sports betting brand in the U.S., which is operating under the Blue Chip Casino license, launched later in the month.

The three online sportsbooks combined to take in $48.01 million in bets — 52% of the state’s total handle — which netted $4.2 million in gross receipts. DraftKings led the way by posting a $39.4 million handle, followed by BetRivers ($6.3 million), and FanDuel ($2.4 million).

Much of that is new money, too. DraftKings reported last month that 58% of its Hoosier State registrants have been new customers. And there is plenty more growth to be had. In Pennsylvania, for instance, about 75% of all bets are made online. In New Jersey, online bets account for about 85% of the state’s handle.

“Online sports betting is a key accelerator in the growth of any legal sports betting jurisdiction that offers it,” Gouker said. “But Indiana’s potential online market is particularly substantial. Indiana does not require out-of-state bettors to register in person at a retail sportsbook, so out-of-state residents simply need to cross the state line to place a bet.”

And Chicago-area residents are already crossing the state line in droves, as evidenced by the retail sportsbooks leading the market. Horseshoe Hammond, near Chicago, generated an Indiana-best handle of $10.7 million, which was up from $8.98 million in September. That yielded $1.7 million in gross receipts, which was up from $2.1 million. Horseshoe Hammond was followed by Hollywood Lawrenceburg near Cincinnati ($6.9 million in bets, up from $5.2 million; $843,970 win) and Ameristar Casino in East Chicago ($6.8 million handle, up from $5.4 million in September; $1 million win).

“Indiana is a unique market because it has so many large markets without legal sports betting so close to its borders,” Gouker said. “Two of the top retail sportsbooks in the state are near Chicago, and the second largest is just over the border from Cincinnati. That shows just how much out-of-state money is flowing into Indiana sportsbooks.”

BetIndiana To Launch Mobile Sportsbook

Pending IGC approval, USA Sports Gaming LLC will launch its BetIndiana mobile sportsbook in partnership with Indianapolis-based Spectacle Entertainment, which owns and operates Majestic Star Casino in Gary, Indiana.

The announcement follows the debut of mobile, online sports wagering in the state earlier this month.

“This is the perfect partnership for us,” said Frank Ignatius, President & Founder of USA Sports Gaming. “Like BetIndiana, Spectacle Entertainment is an independent operator in the gaming industry, born in the Midwest and connected to our local markets. We see great synergy here and we’re confident we will provide bettors in Indiana with a book unlike any other in the state.”

Billed as “Your Hometown Sportsbook,” BetIndiana will offer action on events from around the world with the convenience of wagering from anywhere in the state via a mobile device.

Majestic Star Casino will debut a BetIndiana sports lounge where fans can watch marquee games and wager from their personal mobile devices throughout the year. The partnership is a long-term deal and BetIndiana will continue to be a mobile sportsbook for Spectacle Entertainment’s planned future land-based casino adjacent to the Borman Expressway in Gary, Indiana.

Additionally, fans and bettors alike can get news and information on sports and sports wagering at BetIndianaNews.com, the companion content site of the mobile sportsbook.

“We are extremely pleased to sign this agreement with Majestic Star to launch our BetIndiana mobile product,” Ignatius said. In addition to Indiana, we are making plans to operate in several other markets around the country, as more and more states legalize sports betting.

In May 2018, the Supreme Court repealed the Professional and Amateur Sports Protection Act of 1992 (PASPA), paving the way for states outside of Nevada to offer legal sports wagering.

Indiana Sportsbooks Post $35 Million Handle in September

Indiana’s retail sportsbooks enjoyed an impressive first month that has the state competitive with more established legal sports betting markets, according to PlayIndiana.com analysts.

Fueled by retail sportsbooks most closely to the situated Chicago market, Indiana retail sportsbooks accepted $35.2 million in bets in September, producing $8.6 million in adjusted gross revenue for the sportsbooks, according to official reporting released Wednesday. With Indiana’s 9.5% tax, the state’s win (which does not include bets yet to be paid, such as a wager on the Colts to win the Super Bowl), injected $813,103 in tax revenue.

“Indiana’s sportsbooks are in their infancy, but their ability to capitalize on the Chicago market did not take long to produce dividends,” Dustin Gouker, lead analyst for PlayIndiana.com. “This is the largest handle we’ve seen in a state’s first month of legal sports betting, and it happened without the benefit of online sports betting, which didn’t launch until October. That is a testament to Indiana’s existing infrastructure.”

Indiana’s $35.2 million handle was more than the $25.8 million Pennsylvania’s retail sportsbooks generated in August, but less than the $44.4 million bet in-person in New Jersey. Of course, more than half of all September bets in Indiana were on football, and neither Pennsylvania nor New Jersey had the benefit of the NFL in August. Both will likely significantly outpace Indiana in September.

Still, Indiana’s launch of online betting in October signals rapid growth in the coming months. Nearly 80% of all bets in New Jersey are made online, and Indiana will eventually take the majority of its bets online, too.

“Indiana showed in its first month a familiar pattern where football betting is far and away the main driver in the industry,” said Kim Yuhl, analyst for PlayIndiana.com. “The ability to make online and mobile bets, though, should send the state’s handle into a new stratosphere. Indiana is clearly on a trajectory to become one of the country’s largest legal sports betting markets.”

One of the chief reasons Indiana has so much potential is its proximity to Chicago, in addition to large markets in Ohio and Kentucky. The first full month of betting provided plenty of evidence.

Horseshoe Hammond, near Chicago, generated an Indiana-best handle of $8.98 million, yielding $2.1 million in revenue. Ameristar Casino in East Chicago was second with a $5.4 million handle, producing a $1.3 million win. Ameristar edged Hollywood Lawrenceburg, near Cincinnati, which accepted $5.2 million in bets and won $1.2 million. They were followed by:

Harrah’s Hoosier Park ($4.3 million handle, $1.31 win)
Blue Chip Casino ($3.8 million handle, $957,470 win)
Indiana Grand ($3.6 million handle, $764,908 win)
Tropicana Evansville ($1.1 million handle, $301,231 win)
Caesars Southern Indiana ($1.1 million handle, $293,348 win)
Belterra Casino ($709,219 handle, $133,352 win)
French Lick Resort ($939,222 handle, $217,523 win)

“The sportsbooks closest to the Chicago market have an obvious advantage in the retail sports betting market,” Yuhl said. “Even as online sports betting evens the landscape a bit, we expect that the Chicago-area sportsbooks will continue to receive the largest share of in-person bettors.”

Indiana To Launch Online Sports Betting

Indiana’s legal sports betting market could become one of the largest in the country, generating billions of dollars in bets annually and millions in tax revenue for the state for years to come, according to analysts from PlayIndiana.com.

On Thursday, Indiana will become the seventh state to allow the launch of legal online sports betting, but few of its predecessors have had as much potential as a sports betting market. Already with 13 retail sportsbooks, the addition of online sports betting to Indiana could mean that the state’s best-case scenario is to generate nearly $400 million in annual revenue from a handle of close to $6 billion if neighboring states such as Ohio and Kentucky do not legalize sports betting.

“Indiana’s close proximity to Chicago, as well as other relatively large markets such as Cincinnati and Louisville, should help the state punch above its weight class,” said Dustin Gouker, lead analyst for PlayIndiana.com. “As long as Indiana’s neighbors continue to prohibit sports betting, the state should expect huge flows of drive-in traffic.”

The two largest legal sports betting markets in the country enjoy a similar dynamic. Nevada has long relied on drive-in traffic from California to fill its sportsbooks. And New York helps fuel New Jersey’s sports betting industry, which has accepted $3.8 billion in bets since launching in June 2018.

“Indiana most closely resembles New Jersey, where the New York City market sits just across its border, helping to propel the Garden State into a neck and neck race with Nevada,” Gouker said. “If everything goes right for Indiana, it could see remarkable growth, as was the case in New Jersey.”

Such growth would be a boost to Indiana’s state budget. With a tax rate of 9.5%, $400 million in gross revenue for the sportsbooks would inject $38 million into state coffers.

Indiana’s 9.5% rate could also make it more attractive to operators.

By comparison, Pennsylvania levies a 36% rate, the highest in the nation. New Jersey levies a 9.75% tax on revenue from retail sportsbooks and 13% on online sports betting revenue.

“Indiana has set itself up as one of the most operator-friendly legal sports betting markets in the country,” said Kim Yuhl, analyst for PlayIndiana.com. “That balance should help both sportsbook operators and the state realize their revenue potential.”

For more information and analysis on regulated sports betting in Indiana, visit PlayIndiana.com/news.

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