Indiana is the first of the major bet-friendly states out with their September sports betting handle and if their numbers are any indication, September may continue the trend of record-setting numbers out of participating states. A major sports betting industry bounce-back was widely expected, but already-revealed September figures from a few states have hinted at a major uptick nationally.
Indiana had been facing the threat of neighbor Illinois launching their own sports betting platform in September, but the figures out of the Hoosier State don’t seem to reflect much of an impact from the loss of bettors from their neighboring jurisdiction. Despite the newfound competition and the remnants of the COVID-19 crisis, Indiana managed a record-setting handle in September with reason to believe it was just a start of an incredible rebound for the Hoosier State going forward.
Diving Into the Figures
September was a banner-month for sports in North America – unprecedented in modern times. The NFL started their campaign, baseball’s stretch-drive was in full swing, the NBA and NHL were playing meaningful games and the US Open Golf Tournament captivated not only viewers but bettors as well.
It all added up to an incredible record-setting $207.45 million sportsbook handle for the month in a state with just over 6 million residents. That number represents a 22.7% rise from August’s already impressive $169 million total and the first time ever that Indiana has eclipsed the $200 million mark. It also reveals a 10.8% rise over the previous handle record of $187.2 million in February.
Adjusted Gross Revenues also ticked up, with $14.28 million sportsbook revenues for the month – up 45.2% from the $9.38 in August.
It is estimated that the taxes brought in from Indiana’s sports betting revenues came in at about $1.4 million, which is yet another record for the state.
It was Indiana’s strong mobile platform the led the September charge in the state, with the two national DFS giants raking in the most cash. Altogether, $178.98 million or 86.3% of the $207.45 million that was taken in by Indiana in September came from mobile apps.
Retail was responsible for just a small increase during the month – not unexpected with limited capacity in brick-and-mortar casinos and the fact that its citizens are still wary of COVID-19. Retail was responsible for $28.47 million of the overall Hoosier handle – still weak but a 13.4% increase from August.
September 1 marked the one-year anniversary of legal sports betting in Indiana and over that time, they have cemented themselves as a solid top-4 bet-friendly state. All of the big sports betting providers have found a home in the Hoosier State including a new one, theScore Bet which went live September 17.
The state also surpassed $1 billion in bets taken in during the month of July.
While Illinois is expected to cut into Indiana’s ability to grow much beyond their September haul, the Hoosier State proved their worth in September and bucked more than a few analyst expectations.
Indiana’s record September figures has given industry insiders a lot to look forward as they wait to see the figures coming out of New Jersey, Nevada and Pennsylvania – two of which saw record handles from the month of August. September looks to be on track to smash a number of state records and could even set a new national high-water mark.