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Indiana sets monthly revenue record of $53.5m for January

| By Kyle Goldsmith
Indiana has recorded a total taxable adjusted gross revenue (AGR) of $53.5m (£42.4m/€49.7m) for January, beating the previous record of $50.6m set in December.
Indiana December

Indiana reported a total sports wagering handle of $480.3m for January, a 4.5% drop from the previous month’s total of $503.1m.

Of the handle, $269.9m was spent on parlays, with American football and basketball receiving $57.5m and $113.1m in bets respectively.

DraftKings and FanDuel battling it out in Indiana

Ameristar Casino and its DraftKings sportsbook was the leader for handle with $181.4m, accumulating a total AGR of $18.7m. FanDuel, meanwhile, came away with $23.3m in AGR despite taking less in bets than DraftKings with $160.1m.

Penn Entertainment-operated Hollywood Lawrenceburg took $39.4m in handle while Belterra Casino, another FanDuel partner, placed fourth with $36.6m.

Caesars, meanwhile, was fifth for handle with $32.1m at Harrah’s Hoosier Park, finishing with a total taxable AGR of $2.4m.

Igaming potentially coming soon to Indiana

An updated report in January found that Indiana could generate as much as $2.1bn in igaming revenue over the first three years following legalisation.

The report, commissioned by the Indiana Gaming Commission and conducted by Spectrum Group, estimated the first three years could bring in between $1.9bn and $2.1bn of revenue.

Additionally, the study identified a potential $929m in igaming tax revenue over the first three years following legalisation. This was also a 5% rise on the previous report’s estimations.

Igaming has long been floated in Indiana, with a long-running push for online casino in the state dying in committee in 2023. There have been fears over a potential cannibalisation of the industry, although a recent Spectrum Group report found that igaming has not had a negative effect on income for land-based gaming verticals in other states.

Bet365 launches in Indiana

As part of its North American expansion, Bet365 also launched online sports betting in Indiana at the end of January.

Indiana became the eighth US market for Bet365, launching in the state thanks to a partnership with the French Lick Resort land-based casino. French Lick Resort reported a total handle of $12.3m for January with a taxable AGR of $1.2m.

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