Indiana sports betting continues to grow
Sports betting within the state of Indiana has shown continued levels of growth ever since it was introduced. With growth levels of almost 30% every month, it means that the state has brought in an additional $1 million in taxes each month since it was introduced.
In a report last week, it was said that Indiana has been seeing a growth in gambling revenues across the whole state recently. With more than $160 million in wagers placed just during December it means that the growth looks set to continue. This is especially impressive as almost 70% of bets were placed at online sportsbooks.
Getting a good name
These new figures show that Indiana is growing at an incredible rate within the USA. It’s fired itself to fourth place in terms of sports betting in the country and has taken almost half a billion dollars since sports betting was legalised during the month of September. It’s expected that the market will grow even more when the playoffs begins for both the NFL and the NBA.
A spokesperson for the state said that as the Super Bowl is just around the corner and NCAA basketball has started up they expect the $1 billion barrier to be broken before April hits. It could see Indiana moving further up the table within the whole country.
Online sportsbooks highly successful
Sportsbooks that operate online have been one of the most successful areas for the state. Just during December the sportsbook that is operated by DraftKings created almost $70 million in revenue, this was added to by the FanDuel sportsbook which brought in almost $40 million. This shows the huge amount of interest there is in the online sportsbook market from players within the state.
The statement from the state spokesperson continued to say that Indiana was in a strong position early on in its sports betting life. The revenue that it was bringing in would help to improve the infrastructure across the whole state. It will also be used to steady the industry as it grows, because it’s likely to suffer some issues over time, especially as states close by open their own sports betting platforms.
Brick and mortar sportsbooks
It’s not just online sports betting that has been a success. Over the course of the month there have been a number of brick and mortar casinos that have also seen success in their land based sportsbooks. The Caesars casino managed to bring in almost $15 million in sports betting last month, this despite being close to two neighbouring states who offer sports betting.
The market growth has been one of the most impressive performances within the country by a long way. The only issue that that state foresee in the future is whether this level of performance can be maintained. With other states opening up their own sportsbooks it could see the overflow areas slowing down in terms of business, which will impact on the overall revenue the state brings in through sports betting.