Indiana sportsbooks started 2022 with a bang, setting a new handle record in January.
Books held 5.7% of those wagers, good for $29.3 million in revenue, per the state report.
That revenue figure was up 10% month-on-month but still below the record $47.7 million in November.
Retail sports betting still matters
The state collected $3.4 million in sports betting taxes on its 9.5% tax rate.
Just under 92% of all wagers were placed online, but there was still $41.8 million wagered at retail sportsbooks
Hollywood Lawrenceburg pulled in $13.2 million in bets to remain one of the top retail sportsbooks in US sports betting.
Who led IN sportsbooks?
As has been the trend in Indiana, DraftKings Sportsbook controlled 35% of the online market, drawing $159.8 million in bets and $9.5 million in revenue.
That market share was almost identical to December.
Caesars took 12% of handle, while BetMGM took 11.6% for January.
Online Sportsbook Handle Revenue Market Share DraftKings $159.8 million $9.5 million 34.9% FanDuel $126.4 million $7.6 million 27.5% Caesars $54.9 million $1.4 million 12% BetMGM $53.2 million $5 million 11.6% Barstool $18.9 million $200,000 4.1% BetRivers $16.8 million $800,000 3.7% PointsBet $16 million $1 million 3.5% WynnBet $3.3 million $267,000 <1% Unibet $2.8 million $(2,853) <1% theScore $2.3 million $182,000 <1% TwinSpires $1.6 million $118,866 <1% Betway $1.5 million ($161,969 <1% Bally Bet $631,642 $29,832 <1%
Indiana likes basketball betting
Basketball continued to outperform football in Indiana, despite the NFL playoffs in January.
Hoosiers bet $192.4 million on basketball. That is nearly 39% of the overall handle.
With the Indianapolis Colts missing the playoffs, football accounted for 24% of total handle, behind parlays at 25%.
What next for IN sportsbooks?
February could still top January’s numbers, as the NBA and college basketball season rolls on.
Indiana should see more Super Bowl betting handle thanks to its proximity to non-legal states where residents have a vested interest.
Indiana sportsbooks should see increased traffic from Ohio residents to bet on the Cincinnati Bengals. Expect some big numbers to come from the retail sportsbook at Penn National‘s Hollywood Lawrenceburg as well, given it is only 30 miles from downtown Cincinnati.