Sports betting operations in Indiana close out 2022 on a positive note
Let's Talk Sports Betting in Indiana:
Indiana's sports wagering operators raked in a cool $42.7 million in December – just missing the house's fifth double-digit win rate in the final six months of 2022. And guess what? Four of the state's five top revenue totals came in the last four months of the year!
December's revenue was 6.9% higher than November's total of nearly $40 million, and a whopping 65.8% better compared to the same month in 2021. Total handle for the month was $431.4 million, making it the fourth-largest monthly haul in 40 months of wagering in the Hoosier State.
Interestingly, the second half of 2022 saw a change in fortunes for Indiana's operators, with revenue up by 42.1% to $227.1 million despite handle being 6.6% lower at $2.2 billion. It seems the focus shifted from June to a parlay and NFL wagering frenzy in December, with the house taking a bigger slice of the betting pie.
Speaking of favorites, FanDuel and DraftKings continue their friendly rivalry, with FanDuel leading the pack in revenue. Despite DraftKings inching closer with a strong finish, FanDuel ended 2022 with $139.8 million in Hoosier State revenue – $39.2 million more than its long-time competitor. Other notable players like BetMGM, Caesars Sportsbook, and Barstool Sportsbook all showed impressive results, keeping the Indiana sports betting scene exciting and competitive.
As for brick-and-mortar betting, casinos, racinos, and Winner's Circle venues combined to generate $39.8 million in revenue thanks to an 11.6% hold on $343 million wagered. The racinos and Winner's Circle locations even outperformed the casino books with an impressive 12.5% win rate.
In summary, Indiana's sports betting scene has been on a roll – with both mobile and brick-and-mortar bettors keeping the bars filled with cash. It's a tale of two halves when it comes to revenue, but all signs point to a promising future for sports wagering in the Hoosier State!
🤓 Fun Fact: Did you know that Indiana sportsbooks have been breaking records and amassing impressive revenues since the legalization of sports betting in 2019? 💰💰💰💥💪🏈🏀🎰🎯🎳
Source: Indiana Gaming Commission, US Bets
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Sportsbook operators in Indiana saw a significant increase in revenue, with FanDuel leading the pack, in the second half of 2022. The shift in focus towards parlay and NFL wagering in December led to a higher revenue for the houses.
Furthermore, the Hoosier State's brick-and-mortar betting locations, such as casinos, racinos, and Winner's Circle venues, also generated substantial revenue during this period, with an impressive win rate.
