Sports betting continues to set new records in Indiana. The state’s Gaming Commission recently produced the October reports, showing more than $461 million was wagered in October. This amount busted the previous monthly handle record of $355, with players having wagered more than $5 billion since the industry started back in 2019.
The majority of bets placed were football wagers and basketball’s return helped to push the totals even further. Most of the bets made came from the online sector, as players prefer iGaming to retail options due to convenience.
Handle Breakdown
Leading the way in October for the amount of bets placed was DraftKings Indiana. According to sources, the brand produced $150 million of the total. Somewhat far behind was FanDual, operating under Blue Chip Casino. The brand brought in over $114 million in wagers.
BetMGM/Betway, PointsBet/Barstool, and Caesars all stayed around the $40 million mark with bets averaging over $46 million for the month. After that, the totals are much lower. Bet Rivers brought in $14.3 million followed by Unibet at $7.9 million.
TwinSpires/WynnBET followed at $6.1 million, then the Indian Grand at $5.7 million. Caesars Southern Indiana and Bally’s Evansville came in last with $3.8 million and $1.8 million respectively.
New Operators Coming soon
Indiana is already a big betting state, with sports fans ready to log in and continue betting on NFL and college football along with basketball games. The market is already booming, and more operators are hoping to get in the mix. Will additional sports betting apps or sites, will it add to the totals or just take away from the existing earnings?
Currently, the state offers 12 sportsbooks for bettors. A total of six operators are vying for a spot in the state, including Bally Bet, MaximBet and Fubo Sportsbook. Certain companies on the list would like to get started by the end of 2021, so we could see the market grow before the year ends.
SBK Sportsbook and Bally Bet already have a temporary vendor license from the Commission, so they have the potential to start this month.
Currently, Indiana is on a role when it comes to the sports betting industry. So far this year, over $3.5 billion in wagers have been placed. This trend should only continue through the remainder of 2021 as the industry sees over $400 million or so bet each month on sports. With two more months to go, it seems that the state could be able to surpass the $4 billion mark as the New Year begins.