As the NFL and college football seasons continue, Indiana’s sports betting industry is booming. According to the Indiana Gaming Commission’s monthly report, in October $446 million in wagers were placed, compared to $382 million in September.
In addition, $302 million of those bets were placed at Northwest Indiana casinos. These Include:
- Ameristar in East Chicago
- Blue Chip in Michigan City
- Hard Rock in Gary
- Horseshoe in Hammond
Football Season Boost Betting Figures
Analyst Jake Garza attributed the continued increase in wagers to football events.
“The $168 million worth of football bets was the biggest piece of October’s $446 million total,” he said. “That’s no surprise given that Hoosiers had the Indianapolis Colts to bet on last month, plus plenty of college teams like Notre Dame.”
Football continues to be the favorite sport in the US and the commencement of new seasons has greatly elevated the betting numbers in Indiana. Here’s the total amount wagered by the Hoosiers in sports.
- Football: $168 million
- Basketball: $57 million
- Baseball: $32 million
- Parlay: $126 million
- Other: $61 million
While Indiana sportsbooks experienced a total of $64 million increase in wagers compared to September, Indiana betting figures are down when compared to last year’s performance where the Hoosiers wagered $461 million.
The State still collected $4.4 million n in taxes while sportsbooks in Indiana retained $47 million in profit With more people becoming familiar with the process and more comfortable placing bets, it is likely that the state will continue to see an increase in sports wagers.
Can The Hoosier State Breach the $10B Mark??
The October handle will make the Indiana sports betting market one step closer to breaching the $10 billion milestone. So far, the industry has accepted more than 9.6 billion bets since the first sportsbooks go live last September 2019.
“Indiana’s $446 million October sports betting handle inched the state closer to the $10 billion mark for lifetime wagers,” Garza continued. “At this rate, the state will easily reach that benchmark before the year’s end.
The presence of Indiana online sportsbooks like FanDuel and DraftKings has been vital in achieving the milestone as it makes it easier for people to place their bets. With the online sportsbook, people can place their bets without having to go to the physical location of the bookmaker.
This makes it more convenient for people to bet on their favorite teams and players. In addition, online sportsbook offers a variety of betting options that are not available at physical bookmakers. This makes it possible for people to bet on a wider range of events and games.