Sports Betting
In September, Indiana sportsbooks generated $53 million in revenue
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished5 hours ago on October 14, 2024
Last week, the Indiana Gaming Commission reported $53 million in adjusted gross sports betting revenue. In 61 months of legal wagering in the state, the $53 million was the second-best handle. The state accepted $53.5 million worth of wagers to begin the year in 2024. This was the fourth time this year that Indiana sportsbooks went over $50 million in monthly revenue.
It’s happened three times in the last 10 months. Compared to their figures from 2023, Indiana’s handle was up 19.7%. The $483.3 million was the fifth-highest monthly handle of all time in the state. Through the first nine months of 2024, wagering is just shy of $3.5 billion, up 20.9% YoY. Additionally, Indiana became the eighth state in the post-PASPA era to clear an $18 billion handle.
Indiana collected over $5 million in taxes and became the 10th state all-time to surpass $150 million overall. In 2024, state coffers have seen $33.4 million. That is $6.8 million ahead of their pace from 2023. Of the nine states that have posted their revenue figures from September, all have hit $10 million in revenue. However, their 11% hold is the lowest so far of the states that have shared their figures. Indiana sportsbooks have had a double-digit hold in each of the last five months.
What Indiana sportsbook saw the most profit in September?
During September, DraftKings had their second straight month with the largest handle and revenue for Indiana sportsbooks. From a 10.3% win rate, DraftKings posted an all-time high of $190.3 million handle and $19.7 million in revenue. The company’s previous monthly high was $188 million in wagers from last November. DraftKings is within $12.5 million of the $133.5 million in wagers they accepted in all of 2023.
After a sub-10 % win rate in August, FanDuel bounced back with a 12.3% hold in September. They collected $18.2 million in revenue from $148.4 million worth of wagers. FanDuel is now over $1 billion in year-to-date action after September’s figures were released. In September, BetMGM’s $5.1 million in revenue was the second time in 2024 they’ve crossed the $5 million threshold.
BetMGM had a 13.9% hold and accepted $36.9 million worth of wagers. September has been a historically solid month for BetMGM. In five years of wagering for September, they have $19.8 million in revenue from a 12,6% hold and $157.5 million worth of wagers.
