The past few months have been successful and profitable for many US states in terms of sports betting. For example, Illinois November betting handle helped US totals to reach $3.5 billion. Now, that success continues and the US sports betting market is not slowing down. January 2021, for example, was a huge month for sports betting around the nation. There were NFL playoff bets, including the Super Bowl, and the NBA season is in going great. All of this led to a new record for sports betting handle in Indiana, capped at $347.3 million.
The majority of wagers came from basketball
The Indiana sports betting market continues to see growth, boasting another record-breaking month in sports betting handle. In fact, this is the fifth consecutive month for the state to break records, which is a sign that sports bettors in Indiana have fully embraced the opportunities. We have already reported that Indiana saw a total of $207.45 million in sports betting handle in September. Now, according to the official report released by the Indiana Gaming Commission, Indiana’s new state record for sports betting handle is $347.3 million.
To put this number into perspective, Indiana had the previous record of $313.1 million in December 2021. This means that the state saw an 11% increase in money wagered on sports from the previous record-breaking month. What’s more, if we make a year-over-year-comparison (from January 2020 to January 2021), the increase was 103.9% from the record of $107.8 million set last year.
When it comes to sports betting revenue, sportsbooks collected $29.3 million, which led to $2.78 million in tax revenue for the State of Indiana. According to the report, the majority of wagers came from basketball, both college and professional basketball betting which saw $133,169,727 in wagers. Following basketball are the football wagers, which saw about $77 million in sports betting activities. In total, 85% of wagers were done at online sportsbooks, the most popular of which include DraftKings, FanDuel and BetMGM. DraftKings and FanDuel also went live in Virginia last month.
It’s expected that the success of Indiana sports betting market will continue, thanks to the NBA season, so the state might break its betting handle record yet again.
Mississippi broke sports betting handle record too
Besides Indiana, January was also a great start for Mississippi sports betting handle. According to the figures released by the Mississippi Gaming Commission, the state’s total handle was $67.7 million, and it’s its new sports betting handle record. In December 2020, Mississippi saw a total of $55.3 million in sports betting handle, so January 2021 figures are an increase of 22.4%. What’s more, in a year-over-year comparison, January 2021 was 49.8% higher than January 2020’s sports betting handle of $45.2 million.
Furthermore, the state’s revenue for January was over $9 million, which is a great increase compared to its revenue record set in July. However, one important factor to consider is that customers must physically be at a Mississippi casino to register an online bet in the state, which holds the state back. It’s up to see whether this will change soon so Mississippi could boast with even bigger gains.