Indiana Sees Another Jump in Sports Betting Handle for December: $313.1 Million
The late fall and early winter have been financially prosperous for Indiana sports betting. Bettors are wagering more than ever, and this caused a record-breaking spike in the month of December.
December Sports Betting Handle
Indiana’s December sports betting handle was an astronomical amount in the state’s sports betting history. December was the first month where Indiana’s sports betting handle exceeded $300 million.
The exact handle was $313.1 million, which was a 25% increase from November. The November handle was $251.4 million, so 62 million more dollars were wagered in the month of December.
The beginning of professional and collegiate basketball definitely played a role in this figure. However, this growth still shows an extremely positive trend that should excite the industry.
Indiana offers both mobile and retail sports betting within its state borders. Indiana has countless sports betting providers. Some of the most popular companies in the state are DraftKings, FanDuel, BetMGM, William Hill, BetRivers, and PointsBet.
Every bettor in Indiana can easily place a sports wager thanks to the state’s gambling legislation. DraftKings and FanDuel were the leading sportsbooks in handle amount in the month of December.
The total mobile sports betting handle in December was $269.2 million. This is 26% larger than the November sports betting handle, which was $213.7 million.
People are primarily betting on their mobile devices in the state of Indiana. The mobile handle accounted for 86% of the December total. This isn’t a surprise with the COVID-19 pandemic and the accessibility of mobile betting.
The NFL and college football were the two leading sports for wagers in December. The collective handle for these two sports was $101.8 million.
This number was down from November because of the limited slate of college football during the December bowl season.
The NBA and college basketball picked up the slack for football season winding down. Basketball bets account for just under $90 million of the total December handle.
Parlays and props were a popular wager type as well. These two types of bets accounted for $120 million.
Indiana is benefitting from people wagering in their state. This is clear when you examine their monthly and yearly growth. From November to December of 2020, the handle increased $62 million.
However, Indiana bettors won more in December than November. The gross adjusted revenue was down 4% in December.
This won’t be the case if this positive handle trend continues because sportsbooks will always have the upper hand. The state of Indiana should be very excited about the $62 million increase because they will be benefiting when it comes to tax revenue.
The monthly growth from November to December was outstanding for the state of Indiana. From December of 2019 to December of 2020, the total sports betting handle increased 179.8%.
The December 2020 handle was $96.2 million higher than December 2019. This resulted in a $9.3 million increase in sportsbook revenue from the December 2019 figure.
Indiana has made tremendous progress, but the state still has a long way to go in the national sports betting market. New Jersey, which has one of the biggest sports betting markets in the nation, just missed a $1 billion handle during the month of December.