Sports betting keeps hitting record highs in Indiana

Sports betting in Indiana continues to hit new records, as Hoosiers placed wagers worth nearly $231 million in October.

According to a revenue report released Monday by the Indiana Gaming Commission, the total amount wagered on sports—known as the handle—increased more than 11% from September, the previous record-high month.

The total sports betting handle in September was $207 million, up from the old record of $187 million in February.

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During the spring, sports betting took a dive as casinos closed as part of the COVID-19 pandemic precautions and sporting events were either canceled or postponed.

In April, sports betting in Indiana generated a record-low handle of $26.3 million. But, by August, sports betting had picked back up, with the handle hitting more than $169 million.

In October, bets on football accounted for the largest share of the handle, with wagers totaling $84.7 million. Hoosiers also wagered $61.1 million on parlay bets, $26.6 million on baseball, $10.8 million on basketball and $50 million on other sports.

According to analysts with PlayIndiana.com, a news and research organization that follows sports gambling, the record-high level of betting can be attributed to an interest in the NFL and the return of Big Ten Conference football.

“With a schedule that was more comparable to an ordinary October, Indiana’s sportsbooks fared well and offered a clearer read on where Indiana’s market stands,” Dustin Gouker, lead analyst for PlayIndiana.com, said in a written statement. “Interest in the Indianapolis Colts, Indiana University and Notre Dame is helping as the state transitions from a market that relies on Chicago to one that is more reliant on local bettors.”

Adjusted gross revenue for the sportsbook reached $21 million in October—up from $14 million in September.

Sports wagers generated $2 million in tax revenue for the state of Indiana last month, up from $1.3 million in September.

Betting on sports became legal in Indiana in September 2019, and Hoosiers have placed wagers totaling $1.6 billion since then.

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