Since the Supreme Court overturned PASPA in 2018, sports betting has been expanding through the United States at a rapid pace. As of this writing, there are roughly 30 states with operational sports betting platforms or on the cusp of legalization. One state that has flourished even during a pandemic has been Indiana. Not only has the Hoosier State’s sports betting industry held strong during some dark financial days, but it’s growing at an unparalleled rate within the Midwest. The primary reason for that growth can be attributed to online or mobile sports betting.
Indiana’s Sports Betting Handle
Indiana became the 13th state to legalize sports betting when Governor Eric Holcomb signed a bill into law on May 8th, 2019. Since then, over $3.5 billion dollars have been wagered on sports betting in the state.
That’s a staggering number for a state not previously known as being a fertile land for gambling and sports betting.
January 2021 was the best month for Indiana as residents and out of state bettors wagered over $348 million dollars. This hot start to the year hasn’t completely cooled off as the Hoosier State saw a $254 million dollar handle in May.
For a month that doesn’t have any championship games like the Super Bowl or the start of a sports league like the NBA, that’s an impressive number. Nearly 90% of May’s handle, roughly $228 million dollars, was due to online betting.
Online options like the Unibet Indiana app are reasons why this handle is so high. Mobile betting has made it easier than ever for residents of the state to place wagers on their favorite sporting events.
All they have to do is pull out their smartphone, open up the Unibet app, find the game they’re looking for and place the wager.
In May, sports bettors took full advantage of mobile betting to place wagers on the Indy 500 and the Pacers’ play-in game for the NBA Playoffs.
These two categories were direct contributors to a solid total handle as they combined to rack up over $130 million dollars with $82 million coming from basketball alone.
The state itself took in almost $1.8 million dollars in tax revenue and sports betting operators reported profits as well. With all parties seemingly winning on sports betting, it’s no surprise that this growing market is projected to have a massive year.
Future Projections for Indiana’s Mobile Betting
Indiana took in over $1.7 billion dollars of total wagers last year. Industry insiders believe that the state could see that number doubled in 2021.
After the first five months of the year, Indiana has almost already matched the total handle from 2020. The state is on pace to crush the $3 billion dollar mark in total wagers, which is a staggering realization.
If the current trends for mobile betting continue in the Hoosier State, the total handle generated from online betting could surpass $2.5 billion dollars.
While some states fight over whether or not online betting should be legalized, states like Indiana are reaping the benefits of mobile betting and its residents are enjoying the convenience.
At this rate, Indiana could bring home tens of millions of dollars in tax revenue from the sports betting industry in 2021.