Indiana Breaks Sports Betting Handle Record In January

Indiana shattered their previous sports betting handle record with over $500.1 million in January. With the Super Bowl and Olympics, could February be even bigger?

Indiana easily broke their previous sports betting handle record in January, with $500,138,648 wagered during the month.
With the Super Bowl and Winter Olympics taking place in February and nearby Ohio not yet hosting any legal sportsbooks, February could be even bigger for Indiana.

INDIANAPOLIS – 2022 is shaping up to be a huge year for sports betting in Indiana after breaking their previous record for monthly handle in January.

2022 Looking Like A Huge Year For Indiana’s Sportsbooks

In January, Indiana brought in $500,138,648 in legal sports betting handle. This easily surpassed the previous record of $463.7 million, set in November of 2021.

The official report released by the Indiana Gaming Commission shows that Indiana’s sportsbooks were able to hold 5.7% of wagers, good for over $35.5 million in adjusted gross revenue.

Of the over $35 million in adjusted gross sports betting revenue, Indiana generated about $3.38 million in sports wagering taxes at a 9.5% tax rate.

While Indiana’s January revenue was solid (and up 10% compared to December), it came short of their monthly revenue record of $47.7 million, also set in November of 2021.

Online Sportsbooks Reign Supreme, DraftKings Leads The Way

Despite nearly $42 million being wagered at land-based retail sportsbooks, online sportsbooks made up a vast majority of Indiana’s January sports betting handle with 92% of all bets being placed at an online sportsbook.

Of these online sportsbooks in Indiana, DraftKings has captured the largest market share at 35% of the online betting market.

FanDuel was close behind at 27.6%, with Caesars and BetMGM significantly behind the two frontrunners at 12% and 11.6% respectively.

Barstool locked up fourth place at 4.1%, with BetRivers (3.7%) and PointsBet (3.5%) the only other sportsbooks to capture greater than 1% of the market share.

WynnBet, UniBet, TwinSpires, BetWay, BallyBet, and The Score each hold less than 1% of the market share.

Caesars Sportsbook at Horseshoe Hammond was the top land-based sportsbook for the month, taking in $26.2 million in adjusted gross revenue.

Basketball The Top Choice For Indiana’s Sports Bettors

Interestingly, despite the NFL playoffs taking place primarily in January, sports bettors of Indiana wagered more money on basketball ($192.4 million) than any other sport during the month.

Football was the second-most popular sport to wager on among Indiana’s sports bettors with $118.3 million. Baseball currently in the offseason – came in a distant third place among major sports with $24,156 in wagers.

Sports bettors also wagered $122.6 million on parlays in January plus $65.1 million in bets going towards other sports.

As solid as January was, Indiana, is hoping for an even stronger February. The Super Bowl was likely a huge source of the betting handle, and bordering Ohio’s lack of sportsbooks likely will boost Indiana’s February numbers considering their proximity to Cincinnati.

The Winter Olympics, while not nearly as strong a revenue source as the Super Bowl, will also likely serve as a boost for Indiana’s figures.

Basketball will continue to be a huge source of sports betting revenue for Indiana, but if football and “other sports” see a significant increase in action, Indiana has the potential to break January’s handle record as well as November’s revenue record.

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Jerad Paparella

Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.