Strong December Caps Off Record-Breaking 2023 For Indiana Sportsbooks

December capped off a record-breaking 2023 for the Hoosier State’s sports betting market.

The final month of the year was one of the best months ever and capped off the best year in the short history of Indiana sports betting. If these numbers are any indication, the market won’t be slowing down anytime soon.

According to numbers released by the Indiana Gaming Commission, Indiana sportsbooks handled $503.1 million in December. That’s the second-highest monthly handle ever since the state’s sports betting launch in 2019. It trailed this past November’s record-breaking monthly handle by $10.5 million. However, it is only the third time the industry has handled more than $500 million worth of wagers.

We also have the yearly outlook on the state of Indiana sports betting. In 2023, Indiana sportsbooks took over $4.3 billion in wagers. That’s the highest year-long handle the state has recorded.

Indiana sports betting 2023 totals

Total Bets Placed: $4,337,758,694

Taxable Revenue: $404,102,597

Taxes for Indiana: $38,615,367

December was second-highest monthly handle ever

The glass-half-empty crowd will look at December’s sports betting numbers and point out the $10.5 million month-over-month handle decline. There was a 2% drop from November to December. But Indiana bettors set a handle record in November. That can’t be overlooked.

Regardless of November’s results, December’s numbers should be encouraging to anyone analyzing the data.

Despite the drop in handle, Indiana sportsbooks actually proved to be more profitable in December. Operators won $50.6 million from bettors, $19.9 million more than what was generated in November.

Those figures represent a 64.7% month-over-month revenue spike. Sportsbook operators also paid state taxes totaling $4.8 million in December. That’s $1.8 million more than in November, which is also a 64.7% increase month-to-month. In other words, handle is an indicator of market health, but not the only statistic to look at.

So despite that decrease in wagers, sports betting operators could still generate more revenue for themselves and the state of Indiana. That trend bodes well for the future as the industry matures.

Top 10 Indiana online sportsbooks in December