Indiana sports betting started off 2023 on the right foot. Bettors in the state wagered over $427 million on sports during January. That was a small decrease from December’s $431 million handle.
Indiana sports betting is off to a solid start for 2023, but the state’s busy season is already starting to wind down.
Indiana January 2023 sports betting handle
January’s handle translated to a little over $3 million worth of taxes for the state, and about $36 million worth of revenue for the sportsbooks themselves.
The state’s 13 online sportsbooks are always competing with each other. Despite that, Indiana’s rankings for the most popular sportsbooks typically contain the same four or five betting apps.
That was certainly the case for January with the usual suspects leading the pack in handle.
- FanDuel: $142 million
- DraftKings: $140 million
- BetMGM: $38 million
- Caesars: $34 million
- Barstool: $13.3 million
All of the state’s sportsbooks are shifting their eyes over to Super Bowl betting now, which will help Indiana’s numbers on the next report.
Hoosiers bet the most on basketball
January’s $427 million worth of bets came from a handful of different places, although basketball and football did most of the heavy lifting.
Last month was basketball’s first time snagging the top spot on the podium since the 2022-2023 NFL season began.
Here’s a quick look at the sports that Indiana bettors loved the most in January:
- Football: $91 million
- Basketball: $156 million
- Baseball: $52,000
- Parlay: $125 million
- Other: $56 million
Indiana is going through its typical motions for the year. Basketball has the top spot now, and it will likely hold that position until the summer.
The jump to the top spot is no surprise given Indiana’s love for basketball. IU and Purdue are also two of the top college basketball teams in the entire country, giving Hoosiers even more incentive to bet on the basketball action.
Basketball’s resurgence is good news for the state now that the NFL season is wrapping up.
Busy betting season is over
We’re only one revenue report into 2023, and Indiana sports betting’s busy season is already over. January has always been the biggest betting month out of any given year in Indiana.
2023 could change that, although it isn’t likely with the industry facing a potential decline overall.
February’s handle is all but guaranteed to be lower than January’s thanks to the drop off in football games.
The Super Bowl will take place this month, and it’s the biggest single event for sports betting in the US.
Despite that, it’s only one game. Hoosiers only have one matchup to bet on in February, which differs greatly from a full slate of playoff games in January.
That difference will lead to a lower football handle for Indiana in February, and in turn, a lower handle for the state overall.
Indiana’s industry is in a strong spot, and this is just a part of the typical ebbs and flows of the market. It’s basketball’s time to shine for now, and that will only become more evident during the lead-up to March Madness.