Indiana closed 2020 on a four-month run of record sports betting handles after the Indiana Gaming Commission on Tuesday reported that $313.1 million worth of wagers were made in December.
The figure was nearly 25% higher compared to November’s previous standard of $251.4 million. Indiana has been jockeying with newcomer Colorado for the No. 5 overall spot in handle among states with legalized sports wagering, and handle in the Hoosier State has climbed nearly 51% since September, when Indiana generated $207.45 million and crossed the $200-million threshold for the first time.
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The 11 casinos and racinos generated $24.3 million in sportsbook revenue, the second-highest recorded since bets started being accepted in September 2019, and just behind November’s total of $25.3 million. Operators had a win rate of 7.76% — well off November’s 10.08% mark — but the surge in handle resulted in little falloff in terms of dollars accrued.
Indiana tax coffers were also the beneficiary of the handle increase, collecting more than $2.3 million off those sportsbook revenues. In its first full year of operation the state generated $13.17 million in taxes off $138.63 million in sportsbook revenues as nearly $1.77 billion in wagers were made — despite the COVID-19 pandemic — in 2020.