USA – Latest figures released by sports betting analysts show that Indiana is maximising the sports betting market with basketball contributing to a new handle high in January 2020.
Indiana, otherwise known as The Hoosier State, is currently America’s fourth largest legal betting market for sports and is dubbed the betting capital of the Midwest as it is hot on the heels of Pennsylvania to become third largest market.
The total handle for Indiana in January hit a record high of 170 million dollars, up almost ten percent from December 2019, which held the record for most handle until recently.
The figures are a massive boost for the state, which has an estimated population of 6.7 million as the latest figures show that it brought in a huge sum of 1.2 million dollars in tax revenue from sports betting alone.
Analyst Dustin Gouker commented:
“Indiana has built an impressive infrastructure that continues to maximize the market’s potential. That should help keep the state a step ahead of its competition as neighbouring states, such Michigan, prepare for their own launches.”
In January, revenue was boosted by sports betting on basketball along with the NFL Playoffs in the run up to the Super Bowl.
Gouker expanded on how Indiana is continuing to break records and why it has witnessed such as boost:
“Indiana has been remarkably progressive in the way it has managed its sports betting industry, rivalling New Jersey as the most forward-thinking legal jurisdiction. Early adoption of online betting, which has been atypical among states with legal sports betting, has been an enormous boost. And innovations such as allowing prop bets for the Super Bowl and opening the door to Oscars betting show Indiana is willing to take risks in opening new markets, which will serve the state well.”
Sports betting in Indiana has officially been legal since September 2019 following the approval of legislation to allow retail and online betting in The Crossroads of America. Punters in the state can currently bet on NFL, NBA, WNBA, MLB, NHL and other selected markets.