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IN betting revenue dips as digital drives handle growth in November


Indiana’s regulated sports betting market saw strong growth in customer stakes in November, though revenue declined month-on-month, according to the latest figures from the Indiana Gaming Commission.

Total handle grew to $147.3m, a 60.6% improvement on the prior month, and a clear indication that digital is now established as the preferred channel for sports bettors. However revenue was down 19.4% from October to $9.3m, suggesting a total hold of 6.3% across all 11 licensees.

Stakes placed via desktop and mobile devices accounted for $96.2m, or 65.3%, of amounts wagered in November, double October’s handle. 

Leading the way in November was DraftKings, which operates as a skin under Penn National Gaming’s Ameristar Casino’s license. Customers wagered $64.1m via the DraftKings site, compared to $8.0m in the casino. 

This resulted in digital revenue growing 22.8% to $4.3m, while retail betting at the property brought in a further $735,103, down month-over-month. 

FanDuel, which is partnered with Blue Chip Casino, saw its mobile handle soar from the $2.4m generated over the final 8 days of October to $23.7m in November. From this, it generated revenue of $1.7m. 

Blue Chip’s retail sportsbook, meanwhile, took $4.5m in wagers, though a much weaker hold in October saw revenue drop to $310,955. 

The only other venue to have launched a digital sportsbook is Rush Street’s French Lick Casino, which saw handle grow at a slower rate than DraftKings’ and FanDuel’s offerings. Amounts wagered climbed to $8.4m, resulting in $476,284 of revenue, while $1.2m was staked in the casino, for revenue of $45,357.

Of the properties yet to launch online wagering, Caesars Entertainment’s Horseshoe Hammond led the way in terms of stakes, with customers betting $13.0m in November. However the property’s sports betting revenue fell dramatically, declining 52.4% to $800,208. 

This resulted in another Penn National property, the Hollywood Casino Lawrenceburg, jumping into first place in terms of retail betting revenue. The venue saw amounts wagered grow to $8.8m, with revenue rising 36.2% to $1.2m. 

As a result of the decline in revenue for the month, the total returned to the state in sports betting tax also fell, to $883,361.