In December, Indiana witnessed a remarkable surge in its taxable adjusted gross revenue, narrowly surpassing the previous record set in September 2022.
The revenue for December reached an impressive $50.5 million, marking an 18.5% increase compared to December 2022, when it stood at $42.7 million.
Moreover, December’s revenue was a striking 64.8% higher than November 2023’s total of $30.7 million.
Indiana’s handle, which reflects the total amount wagered by consumers, came tantalizingly close to breaking records in December.
The state saw a significant betting activity, with consumers collectively wagering $503.1 million during the month.
This figure represents the second-highest monthly handle since Indiana’s legal sports betting market was established in September 2019.
December’s handle showed a substantial growth of 16.6% compared to December 2022, when it stood at $431.4 million.
It also came within a hair’s breadth of November 2023’s all-time high of $513.7 million, falling short by just 2.1%.
Basketball continued to be the sport of choice among Indiana consumers, attracting $133.1 million in bets.
This enthusiasm for the sport is hardly surprising given the presence of both the NBA’s Indiana Pacers and the WNBA’s Indiana Fever in the state.
Additionally, American football saw $118.1 million in wagers, while baseball accounted for $133,791 in bets.
Other sports collectively garnered $45.7 million in wagers, and parlay betting contributed significantly with a spend of $205.7 million.
In the battle for the top spot in Indiana’s sports betting market, Ameristar Casino and its partner DraftKings managed to regain their lead in December.
Together, they generated $19.3 million in revenue from a handle of $179.8 million. In second place were Blue Chip Casino and FanDuel, who had led the market in November.
They posted $18.1 million in revenue from a handle of $171.8 million.
Belterra Casino, another FanDuel partner, secured the third position with $3.8 million in revenue, stemming from a total of $34.4 million in wagers during December.
Furthermore, the state of Indiana collected $4.8 million in taxes from legal sports betting in December, further highlighting the economic impact and growth of the industry in the state.