Indiana sportsbooks made history last month. Sports bettors in the Hoosier State wagered more during November 2023 than in any other month since the state’s sports betting launch in 2019.
Indiana online sportsbooks handled $513.6 million in November. That breaks the single-month record set in January 2022 when bettors wagered more than $500.1 million on sports.
Operators turned the record handle into $30.7 million worth of revenue. As a result, they paid state taxes totaling $2.9 million.
Indiana cracks $500 million for second time
Indiana sports betting has never been hotter than it is right now. There was only one other time the industry handled more than $500 million worth of wagers.
November’s handle was $83.9 million higher than October’s. That’s a 19.5% increase month-over-month. It’s a significant jump that represents the ongoing increase in the popularity of sports betting in the Hoosier State.
So far, in 2023, Indiana sportsbooks have taken over $3.8 billion in bets. The state’s sports betting operators are on pace to bring in over $4.1 billion in handle in 2023.
Folks in Indiana are placing more bets than ever. However, that’s not translating into increased tax revenue for the state. November’s $30.7 million in adjusted gross revenue was $14.5 million lower than the $45.2 million in October. Adjusted gross revenue is also down 23.1% year-over-year from the $39.9 million generated in November 2022.
The state is also collecting less in taxes. In November 2022, Indiana received $3.7 million in taxes. However, that number dropped to $2.9 million in 2023. That is also down 32% month-over-month from last month. The Indiana Gaming Commission might want to look into addressing this in 2024.
Top 10 Indiana online sportsbooks in November
| 📱 Sportsbook | 🎰 Indiana Casino Partner | 💰 Novemeber Handle |
|---|---|---|
| DraftKings | Ameristar Casino | $188,027,310 |
| FanDuel | Blue Chip Casino | $175,561,747 |
| Caesars | Horseshoe Indianapolis | $37,444,710 |
| BetMGM | Belterra Casino | $37,260,893 |
| Barstool / ESPN BET | Hollywood Lawrenceburg | $27,452,640 |
| BetRivers | French Lick Resort | $13,101,098 |
| PointsBet | Hollywood Lawrenceburg | $8,485,313 |
| Hard Rock | Hard Rock Casino Northern Indiana | $5,883,062 |
| Unibet | Horseshoe Hammond | $1,549,797 |
| Bally Bet | Bally's Evansville | $1,059,425 |
ESPN BET has massive impact in short time
ESPN BET Sportsbook Indiana launched on November 14. In half a month, the transition from Barstool Sportsbook has boosted PENN Entertainment’s online betting product from seventh in the Indiana sports betting market to fifth.
The launch of ESPN BET and the added welcome bonuses and promotions have played a prominent role in the jump. December will indicate where the rebranded site stacks up against the dozens of other online betting sites in Indiana.
Ameristar Casino once again led the state in total wagers placed through its online betting provider, DraftKings Indiana. The site took in over $188 million in bets in November. Meanwhile, Blue Chip Casino continues to provide some stiff competition for the top spot in the Indiana sports betting market with its online sports betting partner FanDuel Indiana. $175.5 million of Blue Chip’s total handle came from online wagers.
FanDuel has slightly closed the gap on DraftKings in November. We’ll see if that momentum will carry over through the end of the year.
