The Hoosier State continued to show itself as a serious player in the sports betting arena, generating a record handle for the third consecutive month after the Indiana Gaming Commission reported on Thursday that $251.4 million was wagered in November.
It was the third straight month the IGC reported a handle of at least $200 million, with November’s handle 8.87% higher than October’s mark of $230.9 million and 17.48% better than September’s total of $207.5 million. The three-month surge has put Indiana sportsbooks in position to pass $2 billion in cumulative handle with December’s report, provided sports schedules are not disrupted due to COVID-19.
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It also was another good month for operators, as a 10.08% win rate resulted in a record monthly adjusted gross revenue of slightly more than $25.3 million. It was the second straight month revenues cleared the $20-million mark and the third consecutive monthly all-time high. Indiana sportsbooks have generated $60.7 million in AGR over the last three months, accounting for nearly 39% of the overall $155.7 million since the first bets were accepted in the state in September 2019.
That, in turn, led to a third consecutive monthly high for taxes collected. The 9.5% tax rate on that revenue resulted in slightly more than $2.4 million entering state coffers for November. The state has collected nearly $5.77 million in taxes over the previous three months compared to $9.02 million in the first 12 of operation.