Indiana's online and retail sportsbooks hit $4 billion handle in 2021

Indiana's online and retail sportsbooks closed the year with another busy month, producing more than $25 million in revenue on more than $460 million in wagering in December. Though just short of the record handle reached in November, December's brisk action capped a groundbreaking year in Indiana that produced nearly $4 billion in wagers, according to PlayIndiana, which tracks the state's gaming industry.

"This fall has been so impressive for sportsbooks that it almost seems like anything other than a record month is a surprise," said Jake Garza, an analyst for PlayIndiana.com. "In context, sportsbooks remained near all-time highs for wagering and revenue, continuing a remarkable four-month stretch in which wagering was up 73.8% year over year."

Indiana's sportsbooks generated $463.0 million in wagers in December, up 47.9% from $313.1 million in December 2020, according to official reporting released Wednesday. Wagering fell just short of the record $463.7 million handle produced in November, as betting volume slowed to $14.9 million per day over the 31 days of December from $15.5 million per day in November.

Sportsbooks won $26.0 million in December, up 18.2% from $22.0 million in December 2020 but well short of November's record $47.1 million. The month's win produced $25.8 million in taxable revenue, yielding $2.5 million in state taxes.

Online wagering generated $422.8 million, or 91.3%, of December's handle. The remaining $40.2 million in wagers were made at the state's retail sportsbooks.

In 2021, Indiana sportsbooks generated:

• $3.8 billion in online and retail wagers, up 116.4% from $1.8 billion in 2020. That will likely place Indiana seventh in betting volume among legal sports betting jurisdictions in the U.S.
• $307.6 million in gross revenue, up 125.5% over $136.4 million in 2020.
• $3.4 billion in online wagers alone, up 132.0% from $1.5 billion in 2020.
• $29.0 million in state taxes, up 120.6% over $13.2 million in 2020.

"2021 should be remembered as the year in which people fully embraced online sports betting, especially after a tumultuous 2020," said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIndiana.com. "As impressive as the year was, though, the market is not done growing. Sportsbooks are still reaching new customers and operators are offering increasingly innovative products. Meanwhile, Hoosiers are becoming more comfortable with sports betting in general, and more open to less conventional forms of wagering such as in-game betting."

DraftKings paced the state's online market with $148.2 million in bets in December, down from $166.2 million in November. The sportsbook won $6.4 million in gross receipts from those bets, down from $12.6 million in November. FanDuel followed with $120.5 million in online wagering, up from $109.8 million in November. FanDuel topped all operators in gross receipts with $7.5 million in gross receipts, down from $15.6 million in November.

Hollywood Lawrenceburg was once again the state's top retail sportsbook with $13.9 million in wagers, up from $12.7 million in November. Ameristar East Chicago followed with a $5.7 million handle, ahead of Indiana Grand ($4.9 million), Harrah's Hoosier Park ($4.7 million), and Horseshoe Hammond ($4.5 million).

"The biggest question for the year ahead for operators is what effect legalization in Ohio will have on Indiana's sportsbooks, especially retail sportsbooks near the state border," Garza said. "The Hoosier State has managed to expand even as sports betting in Illinois and Michigan have expanded, and should continue to flourish even with increased competition from another neighbor."