The U.S. sports betting industry could see all-time highs recorded across the country after the month Indiana had in September. The Hoosier State saw $207.5 million in wagers for September, making it the first time Indiana passed $200 million since launching sports betting in October 2019.
The state report shows Indiana brought in $14.3 million in revenue and $1.4 million in taxes. Thanks to a full month of MLB and NFL regular season matchups along with the NBA playoffs and the NHL’s Stanley Cup Finals, Indiana was able to capitalize on a huge sports betting month.
Other states could see the same thing as the industry will start producing betting reports for September. Multiple states could report record-breaking months thanks to the September sports schedule.
Indiana by the Numbers
DraftKings continues to be the Hoosier state leader as the sports betting operator brought in $89.4 million in bets for the month, as rival FanDuel was number two, sitting at $56.5 million in wagers. The two sports betting giants were early entrants into Indiana, and the numbers show as DraftKings and FanDuel combined for 70% of the state’s betting handle.
BetMGM rounds out the top three by seeing $13.1 million in wagers, and BetRivers and PointsBet combined for a $12.2 million. Both sports betting operators brought in $6.2 million for September.
Indiana saw a 22.7% increase from August to September and a 10.8% increase from their previous record of $187.2 million in February 2020. Mobile sports betting has been the biggest driver for wagers in Indiana, as 83.5% of the best came online.
Due to coronavirus limiting the amount of foot traffic in casinos and sportsbooks, states like Indiana have significant benefits from online wagering.
Can Indiana Repeat $200 Million in October?
When breaking down the Indiana betting report, football saw most of the money bet on the sport at $48.4 million, basketball was second at $34.3 million, and baseball was $30.4 million.
The NFL and college football has always been a huge driver in sports betting, and Indiana definitely benefitted from the NBA Playoffs going on in September.
However, October will bring back a relatively normal sports betting month. Both college football and the NFL are on a normal schedule, and the MLB playoffs are planned. Usually, October has been heavier bet between the two sports compared to betting early-season NHL and NBA.
However, the NBA Finals are going on in October, so sportsbooks will be able to bring in some betting revenue from one of the heaviest bet finals series in history. Football should have another stellar month, but basketball will not see as much revenue as the NBA could potentially finish the season as early as Sunday night if the Los Angeles Lakers beat the Miami Heat.
Regardless, the Hoosier State should hit close to $200 million in October even as the sports betting schedule lessens to football and postseason baseball. The NHL plans to restart their 2020-21 season in December, and NBA commissioner Adam Silver says he plans to start the season in 2021.
This might give sports betting operators a small hit in the fall as the two leagues normally start in October. However, sports betting has seen higher demand, so that could push right through the scheduling difference.