The return of the NFL season always sparks a massive boost in fall sports betting. Indiana bettors continued that momentum, spending more money in October than they did in September.
After taking in $404.1 million in sports wagers in September, Indiana’s total sports betting handle jumped up to $429.6 million in October. That’s a 6.3% increase. October’s taxable adjusted gross revenue was $45.2 million, which generated over $4.2 million in tax dollars for the state.
DraftKings, FanDuel battle to be top Indiana sportsbook
There are around a dozen Indiana sports betting operators active in the state. However, two stand head and shoulders above the others and are leading the pack as they fight over the No. 1 spot.
Ameristar Casino once again led the state in total wagers placed and adjusted gross revenue (AGR). A vast majority of wagers were placed through Ameristar’s betting provider, DraftKings Indiana. The site took in over $170.8 million in bets in October, while retail operations took in $1.9 million in wagers. Its AGR of $17.8 million was over $2 million more than September’s $15.6 million.
Meanwhile, Blue Chip Casino continues to provide some stiff competition for the top spot in the Indiana sports betting market. Blue Chip’s sports betting partner is FanDuel Indiana. Blue Chip accumulated $147 million in handle and $17.4 million in taxable AGR. Online wagering led the way, with $146.4 million of the total handle coming from online wagers, and a little over $625,000 coming from retail wagers.
Overall, Ameristar still has the edge on Blue Chip. However, the gap between the two has gotten smaller in the last month. In September, Ameristar took $46.4 million more in wagers. In October, it took $25.6 million more. Meanwhile, the taxable AGR is very close between the two operators. It will be interesting to see which operator can leverage the NFL betting season more as we head into the winter months.
Top 10 Indiana online sportsbooks in October
|📱 Sportsbook||🎰 Indiana Casino Partner||💰 October Handle|
|FanDuel||Blue Chip Casino||$146,449,306|
|BetRivers||French Lick Resort||$9,756,582|
|Hard Rock||Hard Rock Casino Northern Indiana||$4,225,008|
Indiana sports betting year-over-year numbers slipping
Right now, Indiana sports betting appears to be on the upward trend. However, things looked a bit better one year ago.
Indiana sportsbooks had a year-over-year decrease in total October handle of 3.7%. And the adjusted gross revenue was $1.7 million lower than the $46.9 million in October 2022.
The state is also collecting slightly less in taxes. In October 2022, Indiana received $4.4 million in taxes. However, that number dropped to $4.2 million. On the surface, that’s not a huge dip. However, could this be a sign of a trend?
Indiana was one of the few states that launched legal online sports betting prior to the COVID-19 pandemic. However, with more states allowing legal sports wagering, Indiana is now on the fringe of being a top-10 sports betting market in the US. The major operators still view The Hoosier State as an important marketplace. So, it’s hard to believe there will be a significant drop in sports betting interest come this time next year.