News Business Sports Betting Thriving in Indiana

Sports Betting Thriving in Indiana

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The US sports betting sector continues to thrive in the wake of the 2018 Supreme Court PASPA Act decision and Indiana is the latest state to underline that growth.

Releasing figures for October, the Indiana Gaming Commission reveals that sports betting punters in the state wagered $91.7 million, a staggering increase of 160.4% on September.

Indiana’s sports betting sector was launched in September and has been growing rapidly, particularly online. And October’s figures offered a boost to the concept of mobile betting. Just over half of the value of wagers staked during the month, amounting to $48 million, came from mobile betting.

During the month, three new mobile sportsbooks were launched. DraftKings, in partnership with Penn National’s Ameristar Casino launched on October 3, along with the Rush Street sportsbook at the Blue Chip Casino. And Fan Duel’s operation, with French Lick Casino, came online on October 22.

In terms of revenue, the gross figure for the month was $11.5 million, which is up 34.8% on the month before. Mobile revenue was $4.2 million, mostly from the DraftKings operation, which accounted for £3.5 million. And the Ameristar Casino also led the way with overall sports betting revenue. The venue took $46.2 million in bets and produced gross revenue of $5 million.

Caesar’s Entertainment came in second during October, taking $10.7 million in stakes, generating $1.7 million in revenue, but they are yet to launch a mobile betting option.

In total, the sportsbook operators of Indiana contributed $1.1 million in taxes to the state coffers, and lawmakers will be hoping that figure continues to increase. Indiana is one of 13 states with legal sports betting sectors, but that competitive advantage will continue to decline. A further six states are in the process of regulating sports betting and several more are debating the issue.

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