Illinois Impact On Indiana Sports Betting Revenue

November was another solid month for the Indiana sports betting market. November marks the third consecutive month Indiana set a new record for sports betting wagers, surpassing $250 million for the first time. It was also the third straight month where the state’s legal sportsbooks set a new revenue record, as total sports betting revenue reached $25.3 million.

That resulted in $2.4 million for the state in the form of sports betting tax revenue.

Breakdown by Operator

According to the Indiana Gaming Commission’s latest revenue reports, the market leaders are familiar names in the US sports betting industry, DraftKings, FanDuel, BetMGM, BetRivers, and PointsBet comprising the Top 5 operators.

Here’s a handle breakdown by casino.

Ameristar Casino

• DraftKings: $95,195,220
• theScore Bet: $2,175,744
• Retail: $6,316,860
• Total handle: $103,687,824

Belterra Casino

• BetMGM: $25,326,955
• Retail: $868,781
• Total handle: $26,195,736

Harrah’s Hoosier Park

• Retail: $1,353,782
• WC Downtown Indianapolis: $1,978,584
• WC New Haven: $1,116,958
• Total handle: $4,449,323

Blue Chip Casino

• FanDuel: $64,191,496
• Retail: $1,762,403
• Total handle: $65,953,899

Horseshoe Hammond

• Caesars: $564,046
• Unibet: $1,815,176
• Retail: $4,901,914
• Total handle: $7,281,136

Caesars Southern Indiana

• Retail: $1,934,544
• Total Handle: $1,934,544

French Lick Resort

• BetRivers: $10,319,202
• Retail: $626,317
• Total handle: $10,945,519

Hollywood Lawrenceburg

• PointsBet: $9,909,485
• Retail: $11,600,037
• Total handle: $21,509,522

Rising Star Casino

• BetAmerica: $144,130
• Retail: $148,362
• Total handle: $292,493

Tropicana Evansville

• William Hill: $4,046,457
• Retail: $1,483,954
• Total handle: $5,530,411

Indiana Grand

• Retail: $1,345,610
• WC Clarksville: $2,277,977
• Total handle: $3,623,587

Majestic Star and Majestic Star II have yet to launch a sports betting product.  

Mobile Registration in Illinois Has an Impact on Indiana

The addition of mobile registration in Illinois was supposed to have an immediate impact on its neighbor’s sports betting industry. Since the return of sports in the summer, Indiana’s sports betting handle returned to its typical growth pattern, as the previous chart indicates.

That said, a closer look at the data – eliminating the COVID-19 shutdown months of March through July -points to Illinois having a significant impact on Indiana’s sports betting industry.  

The following chart comparing February and August handle shows Indiana and Rhode Island were the only two states with unrestricted online sports betting that experienced a decrease in sports betting handle. Illinois Gov. J.B. Pritzker first lifted the in-person registration requirement in June, pointing to mobile registration in Illinois having a material effect on the Indiana market.

Yes, Indiana’s sports betting industry is growing, but it’s starting from a lower point post-COVID, and that seems to stem from the addition of Illinois to the list of mobile sports betting states.

One other interesting element is the popularity of parlay betting in the state. According to the IGC report, parlay betting accounted for $66 million of the $250 million wagered. That number helps explain the gaudy 10% hold rate the state posted in November.