Indiana sports betting is showing its true colors to the tune of $91.7 million in handle for the month of October — a whopping 160% increase from the previous month.
Now, there could be multiple reasons for this enormous increase, but here are three emerging trends to keep an eye on as sports betting in the Hoosier State continues to grow.
Indiana mobile wagering is a significant contributor
Remember, retail sports betting in Indiana just launched on September 1. Mobile followed shortly on October 3.
Clearly one of the main contributors to this recent growth is a full month of mobile wagering. For October, three online sportsbooks (DraftKings, BetRivers, FanDuel) accounted for $48,014,320 in handle, according to figures from the Indiana Gaming Commission.
In comparison, the 10 Indiana casinos with sports betting licenses generated $37,104,764 in handle from retail operations.
As more land-based casinos eagerly launch online operations, the mobile sports betting market will only grow in size. While Indiana may never become New Jersey or Las Vegas, expect the state to be a heavy contributor, at least for now, in the Midwest.
Until Illinois joins the market, Indiana retail sports betting will thrive
It’s no secret that Illinois residents, specifically those in Chicago, are taking the quick trip across the border to place wagers on their phones. But for those looking to grab a bite to eat or toss a few dollars into a slot machine while the Chicago Bears are playing, retail sports betting at Horseshoe Hammond or Ameristar Casino is the way to go.
Horseshoe Hammond, located 28-minutes from downtown Chicago, was ranked #1 in sports betting handle with $10.7 million in October. Its next-door neighbor, Ameristar Casino, ranked #3 with $6.7 million in handle.
The #2 ranked property, Hollywood Lawrenceburg, which is only 31 minutes from Cinncinati, Ohio, generated $6.9 million in sports betting handle.
The takeaway here? If you’re a property located relatively close to a large population base that does not have access to sports betting, open early and close late because customers will come.
Football is the king of sports betting — for now
Let’s be honest, Indiana is not known for its powerhouse college football programs. It’s a college basketball state, always has, always will be.
But until college basketball gets going (the season tipped off last Tuesday), betting on football is the big-ticket item. Wagering on professional and college football dwarfed all other sports for the month of October, bringing in $41,052,776 in handle.
- Football – $41,052,776
- Baseball – $10,456,032
- Basketball – $6,212,423
Of course, nothing gets people going more than wagering on football but there are a finite amount of games every weekend. But the great thing about college basketball is, they don’t only play on Saturday.
This is not to say every state with legal, regulated sports betting will see an increase in betting on college basketball. Experts anticipate it to be a regional effect much like college football is for states in the South.
Indiana sports betting is still in its infancy stage and more trends will certainly emerge. For now, mobile wagering, the lack of a sports betting presence in neighboring states and the start of basketball season are three big trends to keep an eye on.