Indiana’s October Sports Betting Handle Sets Record; Hard Rock Best Casino AGR
Posted on: November 13, 2021, 10:22h.
Last updated on: July 26, 2022, 11:49h.
Sports betting in Indiana enjoyed a huge month in October, as licensed sportsbooks in the state posted a handle of $461.1 million. That’s according to figures released by the Indiana Gaming Commission (IGC) on Friday.
Not only did Indiana break the $400 million monthly handle mark for the first time ever, but the state also shattered the previous record handle – set in September – by nearly $105 million.
Online betting, as usual, played a big role in the market. The 12 active licensed apps took in $412 million in wagers, or 89.3 percent of the activity.
On the brick-and-mortar side, sportsbooks near the borders with non-sports betting states enjoyed strong months, too. Hollywood Lawrenceburg, the closest retail sportsbook to Cincinnati and Northern Kentucky, reported a retail handle of $15.6 million.
Down the Ohio River, Caesars Southern Indiana and the Caesars Entertainment’s Winners Circle Off-Track Betting Parlor Clarksville sportsbook, both across the river from Louisville, took in more than $8 million in wagers combined.
The record handle did not lead to record revenues, though. In October, all Indiana sportsbooks collected gross revenues of $27.7 million. That led to the state collecting $2.6 million in taxes.
That’s down more than $6 million from September, when the books won $33.9 million and gave the state $3.2 million in tax revenue.
DraftKings Still Top Dog in Indiana
Once again, DraftKings reigns supreme in Indiana, as the online giant posted a handle of $150.7 million in October. However, FanDuel topped $100 million for the first time in the state, as the operator tallied $115.6 million in bets, with $113.3 million of that online.
Caesars Sportsbook reported a total handle of $61.9 million. Nearly two-thirds of that was amassed through its online app, but $21.6 million was wagered at its network of retail sportsbooks across the state.
BetMGM users in Indiana wagered $47.7 million on its mobile app.
Of the top four, FanDuel was the biggest winner, reporting gross revenues of $9.6 million. Of that, $9.2 million was won off online wagers. DraftKings reported gross revenues of $7.8 million.
Caesars’ revenues were $1.9 million, but only $435,658 was won from online bets.
At BetMGM, the MGM Resorts International-Entain joint venture won $3.5 million from its customers.
New Casino Leads in Revenue
Indiana’s casinos reported total adjusted gross revenues of $201.9 million for October, a $7.2 million increase from September’s revenues, according to the IGC monthly report.
And for the first time, Hard Rock Northern Indiana was the state’s top-grossing casino. The Gary casino, which opened six months ago, posted adjusted gross revenues of nearly $31 million. Horseshoe Hammond, the casino that sits closest to the Illinois border and has been the dominant casino in the state for years, reported an AGR of $29.5 million.
Helping put Hard Rock over the top in October was the strong play at its table games. Despite having just 80, compared to Horseshoe’s 115, the Seminole Tribe of Florida-owned casino won $9.7 million at its tables. That’s $3 million more than its Hammond competitor.
Indiana Grand, the Shelbyville racino that’s 30 minutes southeast of Indianapolis, posted revenues of $26.2 million.
Coming in fourth was Caesars Southern Indiana, and the first full month under new ownership was a strong one. The casino, now operated by the Eastern Band of Cherokee Indians, reported gross revenues of $20.7 million.
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