The Indiana legal sports betting industry, which impressed observers with its September’s total wagers, outdid itself in October, recording a nearly 200% growth in betting handle. In a metaphorical sense, October told September, “Hold my beer.”

During October, the state’s legal sportsbooks accepted over $91.7 million in bets. This generated $11.5 million in revenue for the 13 licensed operators active in that month.

DraftKings leads the pace in Indiana sports betting handle

The significant rise in total wagers in Indiana during October can be attributed to the introduction of sports betting apps. DraftKings took the lead, responsible for almost half of the sports betting activity during the month. BetRivers and FanDuel also played a part, albeit on a smaller scale. Let’s review the numbers.

• In October, DraftKings generated an impressive $39.3 million in handle. This figure is included in the total handle of Ameristar Casino, as indicated in the table below.
• BetRivers launched its mobile sportsbook via French Lick Casino on the same day as DraftKings, but its performance didn’t match up. It only accounted for $6.3 million in bets.
• FanDuel launched late through Blue Chip Casino on October 22nd. Despite its limited days in October, it managed to take in $2.4 million in bets.

The same brand recognition that gave DraftKings a strong start is expected to boost FanDuel’s performance in November. However, DraftKings’ popularity provided benefits beyond its own financial gains.

Ideal conditions for DraftKings in October

Ameristar Casino, the gateway for DraftKings into Indiana, outperformed all other licensees, generating a total handle of $46.7 million from its mobile and retail operations. The casino’s location near the Chicago metro area also contributed to its success.

Despite Illinois legalizing sports betting, the state is yet to grant licenses. The impact of betting from outside the state was experienced by more than just Ameristar in October.

Horseshoe Hammond topped all retail sportsbooks with a total of $10.8 million in placed bets. It is reasonable to suggest that this sum would have been significantly lower if Chicagoans were not required to cross state lines to place their bets.

Casino	Handle	Total Sports Betting Revenue (AGR)	Taxes (9.5%)
Total	$91,697,393	$11,538,533	$1,096,160
Ameristar Casino	$46,169,268	$5,025,625	$477,434
Belterra Casino	$812,130	$154,112	$14,641
Blue Chip Casino	$6,927,143	$903,326	$85,816
Caesars Southern Indiana	$1,240,408	$150,844	$14,330
French Lick Resort	$7,057,675	$554,653	$52,692
Harrah’s Hoosier Park*	$6,158,916	$1,053,569	$100,089
Hollywood Lawrenceburg	$6,925,496	$1,107,068	$105,171
Horseshoe Hammond	$10,680,358	$1,715,830	$163,004
Indiana Grand**	$3,763,183	$505,740	$48,045
Tropicana Evansville	$1,962,816	$367,766	$34,938
Majestic Star	0	0	0
Majestic Star II	0	0	0
Rising Star Casino	0	0	0

Figures for Winner’s Circle OTBs in Indianapolis and New Haven are included in Harrah’s Hoosier Park.

The data for Winner’s Circle OTB in Clarksville is included in Indiana Grand.

Seasonality was a final contributing factor to the success of Indiana sportsbooks. In the sports betting market, this is considered the most wonderful time of the year.

Oh my, college football, NFL, NBA!

The NFL and college football accounted for 45% of the handle in October, however, the start of the NBA season significantly contributed as well. This indicates potential for further growth in November.

November will not only witness a full month of FanDuel operating its mobile sportsbook in the Hoosier State, but also a full month of basketball. The NBA season is in full swing and the college season has just kicked off.

FanDuel is probably not satisfied with the market share it possessed in October. This implies an aggressive marketing and promotional strategy to attract bettors to sample its product.

The new normal in Indiana into the new year could be the launch of BetIndiana and PointsBet, likely the next mobile sportsbooks in the Hoosier State. However, they are not expected to go live until Super Bowl Sunday.

This implies that BetRivers, DraftKings, and FanDuel have a chance to establish a robust presence in the mobile sports betting industry in Indiana. If these three brands can attract and retain a dedicated customer base in the upcoming months, they will be less impacted by the emergence of new competitors in early 2020.

Sports betting in Indiana, a double victory for the state’s treasury.

The strong performance in October greatly benefited the state’s treasury, which was perhaps the biggest benefactor. Indiana amassed over a million dollars from sports wagering tax for that month.

November’s handle could potentially make October’s earnings seem as insignificant as October’s did to September’s, given that November has the potential to be even more profitable for all involved.