With another month of sports betting in the books for Indiana, the state sees another record for October. Indiana has quickly emerged as one of the leaders in the Midwest, but Illinois is starting to close the gap in a hurry.
October sports betting handle was reported at $230.9 million in Indiana, which is an increase of almost 15%. Revenue totaled more than $21 million, which was also a new Indiana state record.
September was expected to be a huge month for the sports betting industry in Indiana, but the October numbers are a big surprise. Now that the industry has proven that it is here to stay, experts believe that November can lead to another historic and record-breaking month.
FanDuel, DraftKings Leading the Way
One thing that has not changed is that DraftKings and FanDuel continue to lead the way for the Indiana market. These are two of the biggest operators in the US, and they have both seen great success in this state.
DraftKings accounted for more than $90.5 million of the total mobile betting handle, which totaled $193 million. FanDuel chipped in with $63.6 million in the mobile betting handle, and both of these companies saw tremendous growth from September numbers.
These two operators brought in more than 80% of the mobile betting handle, and it’s hard to see any other operators challenging the leaders. BetMGM sat in third place in October, bringing in just over $20 million.
Local Teams Driving Betting
Football is the most popular sport to bet on in the United States, which has been the case in Indiana as well. Indiana has also been helped by the success of the Indianapolis Colts and Indiana Hoosiers.
The Indianapolis Colts are off to a 5-3 start heading into their game on Thursday night. The Indiana Hoosiers are now a perfect 3-0 start, and they have climbed all the way up to 10th in the latest AP rankings.
Football accounted for almost $85 million in handle during October, which clearly led the way. Baseball was second on the list with $26.59 million, but the MLB season is now done until at least April.
Other teams, including those from Illinois, have brought in several bets, but the state will continue to see growth as long as the local teams are doing well.
Iowa Sets Record Too
The October sports betting numbers for the state of Iowa are in as well, and they also set new industry records. Iowa has much smaller sports betting operation, and in-person registration requirements have played a role in limiting the growth in that market.
Iowa saw the highest total handle, highest mobile handle, and largest revenue during October, and that market is also trending in the right direction. The state brought in more than $81 million in sports betting handle, which was an increase of more than 13%.
Iowa has seen a much smaller percentage of mobile sports betting, but the laws played a role in that.