Indiana sportsbetting market experiences a record-setting December
In Indiana and the embryonic online and land-based sportsbetting industry reportedly chalked up a record-setting $313 million in aggregated handle for December to generate collective tax revenues of approximately $2.3 million.
According to a Tuesday report from Inside Indiana Business citing official figures from the Indiana Gaming Commission, last month’s handle figure represented a rise of 24.7% when compared with the previous all-time high of $251 million set in November and means that the sector has now processed some $2.2 billion in wagers since being legalized in September of 2019. The data purportedly also showed that ‘The Hoosier State’ benefitted to the tune of $13.2 million in taxes last year even though the local sporting calendar experienced a considerable amount of disruption at the hands of the coronavirus pandemic.
Successful season:
Indiana allows sportsbetting aficionados to place wagers on a wide range of professional and collegiate sports while Jessica Welman from the online news domain at PlayIndiana.com reportedly told Inside Indiana Business that ‘a lot went right this autumn for sportsbooks and it was on full display in December.’
Welman reportedly declared…
“The Indianapolis Colts, Notre Dame and Indiana football all continued to attract significant wagering. Then a full month of college basketball, which is more important in Indiana than almost anywhere else, and the start of the National Basketball Association (NBA) season added a year-end boost.”
Prodigious praise:
For his part and Max Bichsel from the iGaming resource at Gambling.com reportedly described 2020 as ‘a phenomenal year for sportsbetting in Indiana’ as the Midwestern state’s industry ‘continued to break its own records month over month’. He purportedly moreover pronounced that mobile had been ‘integral to the success of the market’ last year and is destined to increase its market share to likely end up being the vehicle for ‘over 90% of all bets placed.’
Legislative largess:
In an effort to further secure the future of this growing industry and Indiana State Senator Jon Ford reportedly introduced legislation last week that would allow his state’s collection of 14 casinos and racinos to offer online casino gambling including poker. The Terre Haute Republican purportedly detailed that his Indiana State Senate Bill 267 proposal could bring in up to $80 million in additional tax revenues every year and would oblige venues to obtain a separate iGaming license.
Compelling comparison:
Dustin Gouker from PlayIndiana.com reportedly told Inside Indiana Business that the sportsbetting handle currently being generated in Indiana would be dwarfed by the cash the state of approximately 6.7 million residents could bring in should it decide to legalize online casino games and poker.
Gouker reportedly proclaimed…
“More is bet every month and the win is more predictable with far fewer fluctuations from month to month. For a state like Indiana, such a dependable revenue source is unquestionably attractive.”