Hoosiers wagered more $500m on sports during January, according to sports betting analysts. This is the first time Indiana sports bettors have wagered this amount during a single month.
January’s handle surpassed the state’s previous high-performance month in November 2021, when it reached $463m.
Of the total handle for the month, more than 90% came from online wagers, which amounted to more than $458m.
Analysts credit the surge in online betting to the NFL playoffs, despite the absence of the Indianapolis Colts. The postseason helped generate more than $118m in football bets.
Basketball was the most popular option for January sports betting. Hoosiers bet $192.4m on basketball during the month. They also bet $122.6m on parlay, $24,000 on baseball and $65m on other sports.
January’s bets also translated to over $3.3m worth of taxes for the state of Indiana and $29.3m worth of revenue for sportsbooks.
With Indiana’s largest handle to date occurring before the Super Bowl, analysts project February’s numbers will be even higher. Wagering in Indiana has been on a steady rise since last year. During February 2021, the state only took in $18.7m in football wagers.
Since then, four of the last five months have been high-performing months for Indiana’s market. The Hoosier State is also past the half-billion-dollar mark for lifetime sports betting revenue, something that is good news for sportsbooks.
DraftKings grabbed the top spot this month and took in nearly $160m in wagers. FanDuel and BetMGM followed with $127m and $55m in wagers respectively.
