Indiana Sports Betting Sets Record with Over $614 Million in November
November proved to be a milestone month for sports betting in Indiana, with players wagering a record-breaking $614 million.
Record Month for Indiana Sports Betting
November marks a 14.2% increase over the previous record of $538 million wagered, set just a month earlier in October. The November handle brought in nearly $69 million in revenue after payouts, resulting in an approximate 11% hold.
This is nearly double the $35 million revenue generated in October and far exceeds the $31 million collected during the same period last year.
Parlay bets played a significant role in driving these numbers, accounting for a substantial 33% of all wagers placed in November. The rise of parlays continues to be a cornerstone for revenue growth.
FanDuel and DraftKings Dominate the Market
FanDuel and DraftKings maintained their commanding presence in Indiana’s sports betting market, each exceeding $200 million in handle for the month. Combined, these two giants accounted for more than the rest of Indiana’s online sportsbooks put together.
- FanDuel: Led the market with $214.4 million in handle and $23.6 million in adjusted revenue.
- DraftKings: While slightly trailing in handle with $205.4 million, DraftKings outperformed FanDuel in adjusted revenue, bringing in $25.8 million.
Performance of Other Operators
While FanDuel and DraftKings dominated, other operators also made notable contributions to Indiana’s record-breaking month.
- BetMGM: $47.6 million in handle and $5.6 million in adjusted revenue.
- Fanatics Sportsbook: $28.9 million in handle and $2.6 million in adjusted revenue.
- Caesars: $28.7 million in handle and $2.5 million in adjusted revenue.
- bet365: $26.9 million in handle and $2.8 million in adjusted revenue.
- ESPN BET: $18.1 million in handle and $1.3 million in adjusted revenue.
While the online market thrives, Indiana’s brick-and-mortar casinos reported more modest numbers. Hollywood Casino in Lawrenceburg led the way with $2.9 million in handle and $383,000 in adjusted revenue. However, none of the state’s 12 land-based casinos exceeded $3 million in wagers.
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