Indiana Takes In $35M In First Month Of Legal Retail Sports Betting

Indiana Takes In $35M In First Month Of Legal Retail Sports Betting

Sports betting has started well for Indiana. According to the figures released by the state gambling regulator, Indiana grossed $35,215,416 in the very first month of its legalized sports betting operations.

Indiana’s total taxable Adjusted Gross Revenue (AGR) was $8,558,974.

The state has 13 brick-and-mortar sportsbooks; however, the state has posted figures of 10 retail sports betting outlets.

The top eight sportsbooks in the state grossed over $1 million in revenue. The states closer to the border fared better in collecting more revenue and attracting more visitors. The top three of the Sportsbooks are in proximity with a big neighboring city in other states where gambling isn’t legalized.

The top two highest-grossing Horseshoe Hammond and Ameristar casinos are both closer to downtown Chicago. While the Horseshoe Hammond had a betting handle of $8,980,989 in September for a taxable AGR of $2,080,417, the sportsbook at Ameristar casino took in $5,411,479 handle with a taxable AGR of $1,275,909.

Last month Indiana launched sports betting operations and is poised to launch mobile sports betting by the year-end. Two companies given a go-ahead by the gambling regulator – Chicago-based Rush Street Interactive and Boston-based DraftKings – have confirmed that they would be launching their mobile sports betting apps later today.

Indiana’s gambling revenue has dropped by about 18 percent since 2012 and the state is hoping to generate about $13 million additional revenue per year by launching sports betting operations. Indiana’s sports betting tax regime imposes a state tax of only 9.5% of gambling establishment’s sportsbook winnings.

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