Throughout January, Hoosiers placed bets on sports totaling over $348 million.

Indiana is officially experiencing a hot streak, with the state recording record handles for the past five months.

The sustained growth is remarkable given the escalating competition in the vicinity. Sports betting has been available for months in neighboring Illinois, and even Michigan has now joined the fray.

The convergence of basketball season and the NFL Playoffs greatly affected the numbers for January.

Sports betting handle of Indiana for January 2021

In January, sportsbooks generated more than $29 million in revenue, while the state of Indiana received over $2.8 million in taxes.

Here’s an examination of the source of that January handle:

Licensee	Online Brand(s)	Total Handle	Online Handle	Retail Handle	Revenue	State Tax
Ameristar	DraftKings | theScore Bet	$134,411,121	$124,804,469	$9,606,652	$10,734,942	$1,019,819
Blue Chip	FanDuel	$90,550,502	$89,240,067	$1,310,435	$6,159,428	$585,146
Belterra	BetMGM	$57,017,119	$52,423,923	$4,593,197	$5,010,400	$475,988
Hollywood Lawrenceburg	PointsBet	$26,836,024	$13,456,598	$13,379,426	$3,210,072	$304,957
French Lick	BetRivers	$9,839,725	$9,038,825	$800,900	$884,002	$83,980
Horseshoe Hammond	Caesars | Unibet	$9,630,461	$2,233,308	$7,397,153	$927,381	$88,101
Tropicana Evansville	William Hill	$7,249,670	$5,136,765	$2,112,905	$760,051	$72,205
Indiana Grand		$4,847,618	$0	$4,847,618	$812,954	$77,231
Harrah’s		$4,634,872	$0	$4,634,872	$703,018	$66,787
Caesars Southern Indiana		$2,949,142	$0	$2,949,142	$276,803	$26,296
Rising Star	BetAmerica	$278,422	$171,253	$107,169	$26,427	$2,511
Total		$348,244,676	$296,505,207	$51,739,469	$29,505,479	$2,803,021

Goodbye football, hello basketball

The passion for basketball among Hoosiers is not a new phenomenon, but it is a significant element influencing the state’s handle.

In Indiana, basketball significantly influences sports betting more than it usually does in other states.

In November, gamblers wagered $113 million on football, greatly surpassing the $17 million staked on basketball.

In December, the gap significantly reduced as Hoosiers bet $101 million on football, while basketball’s figures surged to almost $90 million.

To put it differently, there was a 408% surge in Indiana’s basketball figures from November to December. This significant rise is typical at the onset of a new basketball season.

During the same timeframe, even in New Jersey, the country’s largest sports betting market, basketball’s handle only surged approximately 187%.

Basketball officially dominated Indiana in January, with the sport’s handle reaching $133 million, effortlessly surpassing football’s $77 million mark.

The first complete month of NBA games was January, during which college basketball also delved deeper into its schedule. This duo contributed to the increased betting popularity for the sport.

Football’s dominance is halted until the coming fall. The Super Bowl, while a major gambling occasion, won’t be sufficient by itself to sustain the sport’s wagering activity in February.

Though America’s favorite sport may currently not be active, the intersection of the NFL Playoffs and basketball season resulted in a robust month for Indiana’s statistics.

The progress of Indiana is impressive, especially considering that January is usually a stagnant month for sports betting growth nationwide.

Barstool Sportsbooks reign supreme in Indiana’s retail sports betting market.

Penn National Gaming remains the leading entity in retail sports betting in Indiana.

The company is the owner of Ameristar East Chicago and Hollywood Casino Lawrenceburg, which are consistently the most frequented casinos for live sports betting in the state.

The pair recently adopted Barstool’s branding for their retail sportsbooks and it’s been non-stop activity at both locations ever since.

The handle of Ameristar increased by 35% in just the first four weeks following the rebrand.

The retail sportsbook at Hollywood Lawrenceburg is among the most popular in the whole country. The casino’s advantageous location close to Cincinnati is beneficial, considering that Ohio has not yet legalized sports betting.

In just January, Penn’s duo of Indiana casinos accumulated a substantial handle of $23 million.

Barstool’s retail sportsbooks have already made a significant impact on the Indiana market, even though their online sportsbook version has not yet been launched.

In its first month of business in Pennsylvania, Barstool Sportsbook received over $30 million in bets. Within a few months, the handle increased more than two-fold to almost $72 million.

If Barstool shows similar performance in Indiana, it could become the state’s third most popular sportsbook, only behind DraftKings and FanDuel. In January, DraftKings accumulated wagers worth $122 million, while FanDuel came in second with $89 million.

Recently, Barstool Sportsbook commenced operations in Michigan and is set to expand to Illinois in time for March Madness. The company also plans to make its debut in Indiana within 2021.

2021 has started off strong for Indiana.

Indiana definitely started the year on a high note.

The handle of $348 million puts the state on course for another year of substantial growth.

Indiana experienced its first full year of sports betting in 2020, with Hoosiers placing bets totaling over $1.7 billion during that period.

The growth is set to continue snowballing at its current pace in 2021.

If the Hoosier State continues on this trajectory, it may end up with a $3 billion handle for the year once everything settles. This could result in more than $200 million in revenue for sportsbooks, and upwards of $20 million in tax revenue for the state.

The Future of Sports Betting and Gambling in Indiana

The gambling industry in Indiana could experience significant growth in 2021.

The development of the sports betting aspect of the business will continue.

During 2020, Indiana saw the opening of six new online sportsbooks. For 2021, new operators are already gearing up for a launch, these include:

• Barstool Sportsbook
• SBK Sportsbook
• 888 Sport
• WynnBET Sportsbook

That’s an excellent beginning, yet online sports betting is merely a fragment of the whole picture.

The retail betting industry may potentially see a surge, particularly in the latter part of the year. The increasing accessibility of COVID vaccines in Indiana could possibly result in a rise in gamblers who are ready to visit their nearest casino.

Indiana’s sole tribal casino is poised to incorporate sports betting and table games this year. The inclusion of another casino will boost the state’s total gaming revenue.

Throw in legislation to legalize online casinos along with a drive to incorporate video gaming terminals, and this year could witness significant transformations in Indiana’s gambling industry.

Should January’s $348 million sports betting handle serve as a future predictor, then 2021 may prove to be a memorable year for gambling in Indiana.