It was another great month for sports betting in the state of Indiana, and basketball helped to lead the charge. The sports wagering handle in Indiana for January was $348.2 million, easily setting a new market record.
The previous record for sports betting handle was $313.1 million, which was set in December 2020. The growth in January represented an increase of more than 11 percent, and the year-over-year growth was more than 103 percent.
Most states had football bringing in the most action during the month of January, but that was not the case in Indiana. Basketball accounted for $133.3 million of the total handle, with football coming in at just $77.6 million.
The Super Bowl will represent a large portion of betting handle for the month of February, but basketball is expected to continue leading the way for the next few months. The Indiana Pacers and the Indiana Hoosiers will drive the betting until the NCAA Tournament kicks off in March.
Online Continues to Drive Numbers
Sports bettors in the state of Indiana have preferred online betting since launch, and that continues to drive up the handle and revenue in the state. Nearly 87 percent of all bets made during the month of January were placed online, and this total has gone over 90 percent at times.
The total online handle came in at $303 million, which was a 12 percent increase over the December total. Mobile handle increased by more than 145 percent from January 2020, and that figure should continue to climb in the coming months.
DraftKings, FanDuel Lead the Way
Two of the biggest names in the sports betting industry continue to lead the competition in Indiana, and that is a trend that has best established for months. DraftKings and FanDuel remain the most popular sports betting options, but BetMGM also had a huge month.
DraftKings reported a total handle of more than $122 million in January, and that company is partnered with the Ameristar Casino in East Chicago. FanDuel is partnered with the Blue Chip Casino in Michigan City, and its total handle was $89.2 million.
BetMGM was next on the list at $52.4 million in the total betting handle, and could eventually pose a real threat to DraftKings and FanDuel.
Competition Coming From Michigan
It will be interesting to see what the February sports betting numbers are in the state of Indiana because there is now some serious competition. Michigan launched online sports betting towards the end of January, and there are already at least 10 online sportsbooks available.
These two states share a border, and there will likely be plenty of bettors traveling back and forth to place bets. Several of the same operators have launched in both Michigan and Indiana, but there are some unique options as well.
Both states are trying to keep pace with Illinois, as the Land of Lincoln is now the clear sports betting leader in the Midwest.