Indiana Sports Betting Sets New Record with $513.7 Million Handle in November

In a remarkable turn of events, Indiana's sports betting industry achieved a historic milestone in November 2023. The total amount wagered on sports in the state soared to an unprecedented $513.7 million. This figure surpassed the previous record of $500.1 million set in January 2022 by a significant margin, marking a 2.7% increase.

Comparing year-over-year data, November's betting activity demonstrated substantial growth. It was 13.6% higher than the $452.3 million wagered in November 2022 and a remarkable 19.6% increase from the $429.7 million handle in October of the same year.

Basketball emerged as the leading choice for sports bettors in Indiana, with $145.7 million in wagers. The commencement of the new NBA season in late October likely contributed to this surge. American football also saw substantial bets, totaling $136.9 million, while baseball garnered $1.1 million in bets. Parlay bets accounted for an additional $169.8 million, with $59.8 million wagered on other sports.

Despite the impressive betting figures, taxable adjusted gross revenue in Indiana for November stood at $30.7 million. While this represents a substantial sum, it was 23.3% lower than the $40.0 million reported in the same month the previous year and 32.1% less than October's $45.2 million revenue.

Blue Chip Casino and FanDuel reclaimed their position as the top-performing operators, generating $12.4 million in revenue from $176.3 million in bets during November. Ameristar Casino and DraftKings, October's leaders, slipped to second place with $10.5 million in revenue, despite handling $190.5 million in wagers. FanDuel's partnership with Belterra Casino ranked third, reporting $1.9 million in revenue from $38.1 million in bets.

Indiana collected $2.9 million in sports betting tax revenue in November, showcasing the financial benefits of the state's thriving sports betting industry. With record-breaking betting activity and strong operator performance, Indiana's sports betting market continues to be a significant player in the world of sports wagering.