First Month of Indiana Retail Sports Betting Rakes in $35M

First Month of Indiana Retail Sports Betting Rakes in $35M

Indiana’s first month of legal, regulated retail sports betting showed the state getting off to a pretty good start.

The Hoosier State pulled in $35,215,416 in total handle for the first month of taking sports bets. The total taxable Adjusted Gross Revenue (AGR) was $8,558,974.

Though Indiana currently has 13 brick-and-mortar sportsbooks, Indiana’s first sports betting financial report reflects numbers from 10 retail locations for the month of September. Of those 10 sportsbooks, eight of them garnered a handle of $1 million or more.

Top Three Sportsbooks in Border Towns

Casinos near a bordering state or a major city in a different state tend to bring in more traffic than those located more centrally in Indiana so far. Bettors don’t mind making a short trip to place their wagers. The same rule applies to sports betting; the top three Indiana sportsbooks are all near a major city from a neighboring state.

Indiana’s Top 5 Sportsbooks for September

HandleTaxable AGRLocation
Horseshoe Hammond$8.98M$2.08MHammond
Ameristar Casino$5.41M$1.288MEast Chicago
Hollywood Lawrenceburg$5.22M$1.24MLawrenceburg
Harrah’s Hoosier Park$4.33M$1.3MAnderson
Blue Chip Casino$3.87M$957KMichigan City

Ameristar Casino and Horseshoe Hammond are both less than 30 miles from downtown Chicago. Horseshoe Hammond’s sportsbook led the state in September; it saw a handle of $8,980,989 for September for a taxable AGR of $2,080,417. Indiana’s No. 2 spot for the month belonged to Ameristar Casino, which garnered a $5,411,479 handle with a taxable AGR of $1,275,909.

Hollywood Casino Lawrenceburg is about 27 miles from Cincinnati, Ohio, and it took in a handle of $5,227,776 in September for a taxable AGR of $1,235,801.

Belterra Casino’s sportsbook took in a handle of $709,219 for a taxable AGR of $133,352. French Lick Resort’s sportsbook saw a handle just shy of the $1 million mark at $939,222 with a taxable AGR of $217,523.

Considering September was Indiana’s opening month with retail sportsbooks and that it has a smaller market than either New Jersey or Pennsylvania, with approximately 6.7 million residents, their debut figures are solid. The best should be yet to come.

Indiana Sportsbooks Should See October Spike

While garnering a total handle of over $35 million for a debut month is impressive, the numbers should be significantly higher in October. This month, Indiana became just the seventh state to adopt online, or mobile, sports betting.

On Oct. 3, Indiana launched its first two online sportsbooks: The French Lick Casino was introduced, run by Chicago-based company Rush Street Interactive, and DraftKings debuted its sports betting app in The Hoosier State as well.

In May, Indiana became the second state this year to legalize sports betting, doing so shortly after Montana that same month. Montana is expecting to launch its first sportsbook by the end of the year, but Indiana wasted little time in launching its first one on Sept. 1.

States that have implemented online sportsbooks have seen a far greater handle than their retail counterparts. For example, in August, New Jersey retail sportsbooks garnered a handle of $44,357,272. In contrast, The Garden State’s online sportsbook took in a handle of $249,237,590.

Indiana should see a similar trend between online and retail sportsbooks. Legal sports betting in Indiana is getting ramped up at a good time, with the NFL and college football in full gear. And basketball is extremely popular in The Hoosier State. Sports bettors will enjoy placing their wagers as they watch their NBA Pacers and NCAA IU Hoosiers and Purdue Boilermakers, among others, play live.

Indiana’s sportsbooks had a solid month to get started in September, and The Hoosier State should see even more action from sports bettors in October because of online betting.

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