Indiana sportsbooks enjoyed a record-breaking October, setting highs in both betting handle and revenue with the state’s bettors interest spurned on by an increasing interest in the NFL and the return of Big Ten college football.
By some measure with the NBA Finals now done-and-dusted, October resembled something more like a normal pre-global pandemic lockdown month. If college basketball too continues to perform in something approaching a regular year, the betting handle in the Hoosier State looks set to have a record end to 2020.
Breaking Down the Indiana October 2020 Betting Numbers
The increase in sports betting handle in Indiana from September to October in betting handle was a more than $23 million bump and the year-on-year increase was just under 152% from October 2019.
Total wagers on sports amounted to nearly $231 million in Indiana for October, with 84% of that amount generated from online sports wagering. In total, some $1.6 billion has been wagered on sports since Indiana’s sports wagering industry launched in September 2019, according to figures recently released by the Indiana Gaming Commission.
In October, Indiana’s sports bettors continued to favor betting on football as their favorite sport to place wagers on, with $84.7 million in bets placed.
Other notable bet types and sports bet on by Hoosier State’s residents in October 2020 were;
- $61.1 million wagered on parlay bets.
- $26.6 million bet on baseball.
- $10.8 million wagered on basketball and;
- $50 million on ‘other’ sports which includes sports like MMA, soccer and hockey.
Leading Indiana sports betting industry analyst Max Bichsel, the combination of the MLB World Series, NFL football and Big Ten football plus the NBA finals made October a stunning month for Indiana sportsbooks;
“The Hoosier State’s love for football is fueling local wagering momentum. Decent performance from the Colts along with a very strong start for the Hoosiers and Boilermakers helped bring in over $84 million in football wagers for October,” Bichsel said in media reports.
“Excitement around football and the upcoming Master’s tournament should keep the momentum going in November, pushing Indiana toward that $250 million mark in handle.” Bichsel concluded excitedly.
Indiana Sportsbooks results in October
DraftKings led the way in Indiana with just over $90 million coming in through its Indiana online sportsbook in association with its Ameristar East Chicago property in the northwest corner of Indiana state. DraftKings took advantage of Illinois being relatively slow by comparison in rolling out its online sports betting industry.
According to leading Indiana sports betting industry analyst, Jessica Welman;
“Indiana is among the largest markets that DraftKings holds an advantage over rival FanDuel, leveraging its early entry last year into market dominance. Even as competition has grown, including the entry of William Hill to the market, the top of the online sportsbook food chain has remained remarkably stable.” Welman explained.
Steady in second place in October in Indiana was the FanDuel Online Sportsbook with $63.5 million in wagers driven by their innovative Cash Out feature and their licensed association with Blue Chip Casino.
Other notable results for Indiana online sportsbooks in October were;
- BetMGM recording just over $20 million in betting handle.
- William Hill Sportsbook Indiana recording their first part month with $150 000 in bets being placed.
- Caesars reporting $8.6 million in bets both online and land-based.
- PointsBet Sportsbook pulling in $7 million in handle both online and through their land-based location at Hollywood Lawrenceburg, with the Lawrenceburg location becoming the Hoosier State’s leading bricks-and-mortar retail sportsbook.
- BetRivers reported back $7.8 million in wagers through their French Lick Resort license.
Data show state taxes on settled sports bets generated a record $2 million in revenue for the Indiana State Budget in October.