January 13, 2022 Sports Betting, Online, Land Based

$463m in December: Indiana sportsbooks end a strong year with a strong month

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Month was just shy of record-setting November.

For Indiana sportsbooks, a profitable 2021 was capped with a strong performance in December.

The Hoosier State saw $460m in wagering lead to $25m in revenue. The year in total saw almost $4bn in wagers.

While it wasn’t a record month – that title goes to November’s $463.7m – it was mighty close, and December 2021 sits in a comfortable second place. For perspective, daily betting volume was $14.9m a day versus the daily $15.5m seen the month before.

The year-over-year rise that Indiana has seen is significantly more dramatic. The $460m in wagers seen last month was up a cool 47.9% from last December’s $313.1m.

Sportsbooks performed well in this timeframe as well, winning $26m in December 2021, up 18.2% from their performance the year before.

Lawmakers should be happy too. The month’s taxable revenue came to $25.8m, yielding $2.5m in state taxes.

In the online market, DraftKings took the lead with $148.2m in bets, while FanDuel came in a respectable second at $120.5m.  The state’s top retail sportsbook was Hollywood Lawrenceburg ($13.9m in wagers).

December’s performance was a fitting capstone to what had been an excellent year for sports betting. The $3.8bn in wagering was up by 116.4% over the $1.8bn seen in 2020. Altogether, this makes Indiana the seventh-largest sports betting market in the country.

The state’s $307.6m in gross revenue was up 125.5% over the $136.4m seen in 2020.

As well, total annual online wagers were up 132% to $3.4bn, while state taxes were up 120.6% to $29m.

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