Posted: Feb 14, 2021, 4:15 am.
Last update on: February 14, 2021, 3:15 a.m.
The Hoosier State's growth in sports betting continues through 2021. This emerges from the Indiana Gaming Commission, which published the betting numbers for January on Friday.
Purdue's Jaden Ivey drove past Indiana’s Rob Phinisee at the IU Assembly Hall on Jan. 14 when Purdue beat the Hoosiers 81-69. according to the Indiana Gaming Commission. (Image: Purdue Athletics)
Bettors posted $ 348.2 million in January, up 11.2 percent from $ 313.1 million in December. It's also more than double the January 2020 total of $ 170.8 million. It's also nearly $ 100 million more than reported in Indiana in November ($ 251.4 million)
The amount that sports betting took in also increased with revenue of $ 29.3 million. This is an increase of 20.6 percent from $ 24.3 million in December. It's also an incredible 127.1 percent jump from the $ 12.9 million operators won in January 2020.
When sports betting wins more, the Indiana state government wins more. The rate of 9.5 percent means the government has received nearly $ 2.8 million in tax revenue.
Indiana has set a record every month since September. While sports betting has only been legal since September 2019, Indiana’s continued growth in sports betting in recent months can still be seen as remarkable, especially as some of its neighboring states have allowed mobile sports betting in recent months.
In Illinois, this state has established itself as the fourth largest sports betting market in the country. In the north, Michigan launched online sports betting in late January. Analysts reported that online sports betting traffic spearheaded the nationwide opening weekend.
Indiana shows why it's a basketball state
As the football season ends, Indiana will have a hard time continuing its growth streak in February. But the state has one thing in mind: the fans love basketball, and that was shown in January.
In January, Hoosiers bet a whopping $ 133.2 million on the roundball. That's the highest bet on any sport in a month. It helps that Indiana has 10 Division I college basketball teams and the Indiana Pacers of the NBA. Additionally, many people from Kentucky, Ohio, and Illinois (where in-state college wagering is not allowed) cross the state line to wager on their teams as well.
By comparison, football accounted for $ 77.6 million in betting. There was a full week of NFL regular season action, plus three weekends of playoffs that included the Indianapolis Colts in the first round. At college level there were playoff games and the Outback Bowl with the Indiana Hoosiers.
The IGC counts parlay bets separately from the IGC. Bettors made $ 86.1 million on these multi-event bets in January.
Hoosiers Bet Big Online
As in previous months, online betting dominated. The stakes made on phones and other devices totaled $ 296.5 million, or 85.2 percent of the action. Online accounted for 84.1 percent of the money staked in December.
Intergovernmental Conference data shows that the rise of new apps in recent months certainly cannot cannibalize online sports betting in the state.
Indiana had four online sports bets in January 2020. There are currently 10 available nationwide.
DraftKings more than doubled in a year, from $ 66 million in January 2020 to $ 122.6 million last month. FanDuel rose from $ 49.5 million to $ 89.2 million in the same period.
In terms of sales, DraftKings won $ 9.4 million while FanDuel raised $ 8.2 million last month.
Among the newcomers, BetMGM reported revenues of $ 52.4 million and revenues of $ 3.7 million in January. PointsBet took $ 13.5 million in bets and grossed $ 1.4 million.