Indiana Sportsbooks See Record $614 Million in November Handle

Indiana’s sports betting industry achieved a new milestone in November, with total wagers suring $614 million, marking the highest monthly handle ever recorded in the state. This figure represents a 14.2% rise from the previous record of $538 million set just a month earlier in October, according to data released by the Indiana Gaming Commission. Simultaneously, casino revenues in Indiana climbed to $186 million, reflecting an 8% year-over-year increase compared to November of last year.

Sportsbook Revenue Surges in November

After ing for payouts to bettors, sportsbooks across Indiana reported revenue of nearly $69 million for November, translating to an approximate hold rate of 11%. This performance more than doubled October’s revenue total of $35 million. For comparison, November 2022 saw sportsbooks collect $31 million from a $514 million handle, further highlighting the substantial growth in Indiana’s betting market over the past year.

DraftKings, which operates through its collaboration with Ameristar Casino. Ameristar reported a handle of nearly $207 million, representing a solid 6.3% increase from October’s numbers.

While FanDuel surged ahead in market share, Horseshoe Hammond recorded the largest month-over-month percentage increase among Indiana sportsbooks. The operator’s handle climbed by an impressive 41%, underscoring the robust growth and competitiveness among platforms in the state.

Steady Growth for Indiana’s Gaming Industry

The record-breaking handle in November is further evidence of the rapid expansion in Indiana’s sports betting sector, which continues to perform strongly as sports wagering gains broader appeal. The combined success of sportsbook operators, including FanDuel, DraftKings, and Horseshoe Hammond, reflects the increasing demand for sports betting platforms and the sustained enthusiasm of bettors across the state.

The simultaneous growth in casino revenues also signals the continued strength of Indiana’s broader gaming market. With November’s casino revenue reaching $186 million, the 8% year-over-year increase suggests ongoing demand across both online and brick-and-mortar gaming operations.

As Indiana’s gaming market sets new records, competition among top sportsbooks remains a significant driver of growth. FanDuel’s strong performance and DraftKings’ resilience continue to fuel the industry’s momentum, while operators like Horseshoe Hammond demonstrate notable month-over-month gains.

Indiana’s sportsbooks have shown consistent performance improvements over the past year, positioning the state as one of the top markets for legal sports betting in the United States.

Source:

”Indiana reports a record $614 million monthly sports betting handle”, cdcgaming.com, December 15, 2024.