Indiana Sports Betting Handle Impresses for August
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August was the first month with a full slate of mainstream sports in the U.S. For the first time since February; sportsbooks were likely going to see an enormous boost from the NBA, NHL, and MLB playing a full month.
The Indiana sports betting numbers did not disappoint as the state’s sports betting handle hit $169 million for August. The August sports betting report for Indiana can be found here. Sports betting revenue also rose in August to $9.8 million
The surge in sports betting is a big thanks from baseball, basketball, and hockey returning to play. For over four months, sports leagues across the U.S. were shut down due to COVID-19. Now, sportsbooks are seeing a huge demand increase now that all pro leagues are back in action at once.
Indiana by the Numbers
| Month | Handle | Revenue | Taxes |
|---|---|---|---|
| September 2019 | $35,215,416 | $8,558,974 | $813,103 |
| October 2019 | $91,697,393 | $11,538,533 | $1,096,161 |
| November 2019 | $147,276,912 | $10,593,321 | $1,006,365 |
| December 2019 | $161,808,924 | $12,068,114 | $1,146,471 |
| January 2020 | $171,049,250 | $12,223,222 | $1,161,206 |
| February 2020 | $187,186,221 | $10,381,954 | $986,286 |
| March 2020 | $74,818,802 | $5,495,640 | $522,085 |
| April 2020 | $26,304,128 | $1,559,884 | $148,189 |
| May 2020 | $37,334,940 | $3,179,968 | $302,097 |
| June 2020 | $29,783,580 | $2,922,108 | $277,601 |
| July 2020 | $70,876,622 | $6,658,465 | $632,554 |
| August 2020 | $169,018,238 | $9,834,881 | $934,314 |
| September 2020 | $207,450,106 | $14,283,702 | $1,356,952 |
| October 2020 | $230,932,251 | $21,098,460 | $2,004,354 |
| November 2020 | $251,403,994 | $25,328,161 | $2,406,175 |
| December 2020 | $313,112,473 | $24,131,284 | $2,292,472 |
| January 2021 | $348,244,676 | $29,330,069 | $2,786,357 |
| February 2021 | $273,893,073 | $16,955,904 | $1,610,811 |
The Hoosier state increased its sports betting handle by $98.1 million from July to August. In July, the state saw $70.9 million wagered and revenue at $6.7 million. In August, the betting handle jumped to $169 million and $9.8 million in revenue.
This was the third-most wagered month Indiana had since the launch of sports betting. Only January and February of 2020 had more dollars wagered on games than August.
When breaking down the numbers by individual sports, basketball came in with the largest handle. At $55.2 million, basketball brought in more money than baseball, which sat at $31 million. The NBA is becoming a popular league to bet on, which is now second behind the NFL. The NBA started its playoffs in August, which helped increase betting demand don the sport.
Although baseball finished second in the betting, the sports were still impressed with its numbers. $31 million was wagered thanks to August having a full month of regular-season games. The league also has not suffered a major COVID-19 outbreak since the Miami Marlins and St. Louis Cardinals had theirs earlier in the season.
Even football saw $717K wagered on the sport, as NFL fans were getting their action in on team futures and win totals. The “other” category had over $36 million wagered, which included sports like the NHL, PGA, NASCAR, and other leagues and sports across the world.
What can Indiana Expect in September?
There is a strong chance that Indiana breaks a record in September. With the NFL returning, the Hoosier State could see the most money wagered on sports since the launch of sports betting.
This past February, Indiana had a sports betting handle of $187.2 million, which was the highest since the September 2019 sports wagering inception. If August saw $169 million wagered with the NBA, NHL, and MLB, then NFL betting will knock the previous record out of the park.
The NFL is the most popular sport to bet on, and there is a high demand for sports betting right now. Numbers in the other three leagues should remain steady as September will see a full month of action as well. Then, add in the NFL, and Indiana could see $200 million wagered in its state.
The sports betting handle will only continue to grow this fall. Football is king, and as long as there is not COVID-19 outbreak in the league, then they will be able to get a full season in.
