Indiana Handle Almost 3x in 1st Full Month of Online Betting

Indiana Handle Almost 3x in 1st Full Month of Online Betting

Indiana’s fledgling legal sports betting market made a major leap in October, nearly tripling in the first month that mobile and online wagering was available.

In the second month overall in which sports betting was in play, Indiana reported $91.7 million in handle, up substantially from the September figure of $35.2 million. DraftKings’ online platform, which debuted Oct. 3 through a partnership with Ameristar Casino, accounted for $39.3 million of that online figure.

The Indiana Gaming Commission report detailed $11.5 million in adjusted gross revenue in October. That figure was undoubtedly plumped by residents from neighboring Illinois, where sports betting was legalized in June, but where regulators still have not formulated regulations to allow the industry to commence. The top Indiana properties by retail sportsbook handle in October were Ameristar East Chicago and Horseshoe Hammond. Both are within 30 miles of downtown Chicago.

Indiana Sports Betting Revenue September vs October 2019

Sep. '19Oct. '19Change
Total Handle$35.2M$91.7M+260.5%
Gross Revenue

Other Top Indiana Earners

Rush Street – branded as BetRivers - did $6.2 million in business through French Lick Resort. FanDuel, the leading earner in New Jersey and Pennsylvania, logged $2.4 million after launching Oct. 25. FanDuel opened in Indiana through an access deal with Boyd Gaming. On a quarterly call this week, Boyd CEO Keith Smith said he was “quite optimistic” about the joint venture in Indiana.

As usual the juxtaposition of DraftKings and FanDuel, both daily fantasy sports providers turned sports betting purveyors, will be crucial in shaping the Indiana market as both continue to push into states that legalize sports betting. DraftKings also entered the New Jersey market before FanDuel but was overtaken within months.

DraftKings CEO Jason Robins tweeted after the passage of Proposition DD on Tuesday enabled sports betting in Colorado that he looked forward to the company eventually launching there.

FanDuel’s ambition is coastal also, with parent company Flutter making moves in October to secure access in markets all over the country through a merger with Stars Group. Flutter CEO Peter Jackson said a deal announced in early October was meant to “turbocharge” national expansion.

DraftKings was part of its owned megadeal in August, gaining market share through a partnership with Penn National Gaming.

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