Indiana sportsbooks used the return of the NFL to launch into new territory in September, surpassing $200m in bets in a single month for the first time, as well as producing record operator revenue, and passing $100m in combined revenue since launching in September 2019.
In doing so, the Hoosier State shook off the growing challenge from neighboring Illinois in the pecking order for US sports betting markets, according to PlayIndiana analysts.
Bettors wagered $207.5m in September, shattering Indiana’s previous record of $187.2m set in February. September’s result is up 489% from the $35.2m handle the industry posted in September 2019, the first month of legal sports betting in the state.
In terms of September bets, they produced $14.3m in adjusted gross revenue for the state’s operators, up 66.9% from $8.6m in September 2019 and topping the previous record $12.2m set in January.
Jessica Welman, an analyst for PlayIndiana.com said: “Indiana has benefitted from Illinois’ relatively slow launch and its inconsistency with in-person registration requirements, buying Indiana time to continue to capitalize on the Chicago market.
“Indiana’s balanced regulatory framework remains attractive to operators, which has kept the market on relatively firm footing, too. Those factors were key in kicking off the football season in record fashion.”
Since launch, sportsbooks have now generated $109.4m in revenue and $10.4m in state taxes after injecting $1.4m in September. Last month’s totals should keep Indiana in fourth place nationally, ahead of Illinois, which produced $139.8m in August, and Colorado.
Football betting was paramount, attracting $48.4m in bets