2020 IN Sports Betting Revenue Impresses

Indiana Sports Wagering Market Handles $1.7bn

All told, from January to December, retail and online sportsbooks handled a staggering $1.7 billion in total wagers. That figure would surely have topped the $2bn mark, had it not been for the temporary cessation of sports and casino closures.

December proved to be the most lucrative month of the year, breaking revenue records with $313 million in total sports wagering handle. The past four months, in fact, have each been record setters, with November outdoing October, which outperformed September, which put August to shame following that start to the NFL season.

The month of December is being seen as a tell-all for the future of Indiana’s betting market. The state’s 11 retail sportsbooks and 10 online sports betting operators really showed their cards in this final month, revealing the state’s top performers and sideline bench-warmers.

Mobile Leaders in Indiana Sports Betting

The above information reveals new leaders emerging on the list of top performers. DraftKings and FanDuel continue to hold the summit, of course, as they’ve done from day one. There are a numebr of reasons supporting their popularity in the market. The most obvious factor is that DraftKings and FanDuel are two of just five IGC-licensed operators that offer both daily fantasy sports (DFS) and traditional sports betting lines. However, the most crucial underlying reason is that they inherited the vast majority of Indiana’s sports wagering fans.

Prior to 2019, DFS was the only legal form of online betting in the state. Thus, DraftKings and FanDuel have been competing in this market since 2016. It was only natural for pre-existing members from the DFS side to transition over to the broad-spectrum sports market, rather than shopping around for potentially better sports lines and products.

Rounding out the top 5 performers are BetMGM, PointsBet and BetRivers. BetMGM entered the game late, but rose through the ranks with brand recognition and mass marketing. PointsBet got lucky by association, having partnered with Hollywood Casino Lawrenceburg, the largest and most popular land-based casino in Indiana. BetRivers earned its position through quality and perseverance, especially among the Android mobile users, but its lack of a fully-functional iOS app continues to plague the brand.

The Tailspin That Was 2020

The year began with a progressive bang. The state’s retail and online sportsbooks handled $170 million in January, boosted to $187 million in February; a record setting month at that point. Over the next four months, however, the market was barely able to dredge up $167 million combined, as all professional and collegiate sports leagues in the US were sidelined.

Athletes were sent back into the fields and onto the courts again in July, and the betting market has surged ever since. Each month has been another record breaker in terms of revenue. The NFL season had a lot to do with it. Football accounted for $350.3 million in wagers on the year; $101.8 million in December alone. Basketball attracted the second largest amount of wagers, totaling $213.4m on the year; $89.7m in December.

NCAA Basketball to Replace NFL Betting

Super Bowl LV is set to take place this weekend between the Tampa Bay Buccaneers and Kansas City Chiefs. That’s sure to bring in a bounty of wagers, especially the live in-play variety. But once that’s gone, what will remain to attract bettors? Not to worry. March Madness is just around the corner.

This year’s NCAA DI men’s basketball tournament will be a little different, and its sure to get Hoosier’s more pumped than ever. According to NCAA.com, “the entire 2021 men’s basketball championship will be played in Indiana, with the majority of the tournament’s 67 games taking place in Indianapolis.”

Because everyone will be playing in the same vicinity, bracket selections won’t have anything to do with geography this year, either. Teams will be placed into brackets based entirely on the ranking system. You can read more about that here:

• NCAA 2021 Bracket Changes

Selection Sunday is scheduled for March 14, with the First Four competing on Thursday, March 18. The tournament will continue to wind down from there, leading up to the Final Four on Saturday, April 3 and Monday, April 5, at Lucas Oil Stadium. No doubt futures bets are already pouring in across Indiana’s sports wagering market.