October 12, 2021 Sports Betting, Online, Land-Based

Indiana sportsbooks record September handle of $355m, setting new record

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Football propelled Hoosier State operators to record-breaking handle and revenue.

Indiana sportsbooks generated $355m in September handle, setting a new state monthly record on the back of the NFL and college football returning.

September wagers narrowly topped the Hoosier State’s previous record handle of $348m set in January. Handle was up 64.8% from August and up 71.3% year-on-year.

Bettors wagered $11.8m per day in September, compared to $7m per day in August.

Online betting accounted for $230m, or 90.1%, of September wagers.

Gross gaming revenue also set a new record, reaching $33.3m to top the previous high-water mark of $31.7m recorded in January. GGR was up 99.4% from August and up 196% y-o-y.

Football was the main catalyst of higher handle and revenue. Between college football and the NFL, the gridiron was responsible for $149m in September handle.

"Football remains king, even when the Colts get off to a slow start as they did in September," said Nicole Russo, an analyst for PlayIndiana. "A busy schedule of Indiana, Notre Dame, and Purdue football certainly helped boost interest, too. The bottom line, though, is that the state's industry continues to grow and mature and that will likely lead to even stronger months ahead as baseball's postseason starts and the NBA returns."

With football wagering showing no signs of slowing down, Indiana is poised to remain one of the top sports betting markets in the country. Through September, Indiana operators have combined to generate $2.4bn in handle and $207m in GGR.

"The bar has been set much higher for Indiana's sports betting market, and could double the wagering from last year," said Eric Ramsey, an analyst for the PlayUSA Network "Indiana remains one of the five largest sports betting markets in the country, and the growth is showing few signs of letting up at this point. Sportsbooks should approach $4 billion in wagers for the year."

DraftKings led the online market with handle of $130m, while it netted $7.2m in GGR. Rival FanDuel was runner-up in handle of $77.2m and first in GGR with $10.6m.

Among retail sportsbooks, Hollywood Lawrenceburg, near Cincinnati, paced the state with $11.5m in handle.

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