Indiana Sports Betting Revenue, Handle and Taxes
Indiana Gambling Trends
Indiana Sports Betting Data
| Month | Handle | Handle Per Capita | Revenue | Hold | Taxes |
| December 2023 | $503,127,765 | $119 | $54,603,323 | 10.9% | $4,810,719 |
| November 2023 | $513,672,424 | $122 | $26,848,975 | 5.2% | $2,919,257 |
| October 2023 | $429,673,063 | $102 | $46,135,347 | 10.7% | $4,297,088 |
| September 2023 | $404,140,702 | $96 | $40,624,361 | 10.1% | $3,901,903 |
| August 2023 | $238,079,855 | $56 | $23,633,486 | 9.9% | $2,236,234 |
| July 2023 | $203,788,074 | $48 | $23,420,740 | 11.5% | $2,209,488 |
| June 2023 | $224,070,050 | $53 | $19,036,099 | 8.5% | $1,848,269 |
| May 2023 | $283,495,510 | $67 | $33,542,239 | 11.8% | $3,208,916 |
| April 2023 | $321,404,737 | $76 | $29,349,149 | 9.1% | $2,794,279 |
| March 2023 | $433,022,775 | $103 | $43,746,469 | 10.1% | $4,097,409 |
Indiana Sports Betting Revenue
Indiana joined the growing group of states with legalized sports gambling when Governor Eric Holcomb signed a bill on May 8, 2019. Retail sportsbooks began accepting bets in September of that year, with online sports betting launching that October. There are now 13 sportsbooks and 15 retail sites available for sports betting.
Indiana sports betting handle surpassed $436 million in those last months of 2019 and the business has blossomed since, surpassing $1.75 billion in 2020, $3.8 billion in 2021 and $4.3 billion in 2022. The 2023 Indiana sports handle just went over $2 billion through the first six months of 2023, despite next-door neighbor Ohio’s entry into the sports betting arena at the start of the year. The presence of industry leaders DraftKings, FanDuel, Caesars, BetMGM, WynnBET and BetRivers and a plethora of online and land-based betting sites have contributed to the consistent rise in Indiana sports betting revenue by state.
Below, we discuss Indiana sports betting taxes and detail Indiana sports betting revenue and Indiana sports betting hold to show you how the Hoosier State has fared financially since it legalized sports betting.
Indiana Sports Betting Taxes
Sports betting taxes are of great importance to bettors, who obviously want to keep as much of their winnings as possible. The IN sports betting tax rate currently stands at 9.5% on operator sports betting revenues. This is a competitive percentage as the more than 35 states and Washington, D.C. currently impose an average sports betting tax of 19%. Only Iowa, Michigan and Nevada have lower state tax rates. Delaware (50%), New Hampshire (51%) and Rhode Island have the worst state tax rates.
Indiana sports betting taxes have generated more than $100 million for the Hoosier State through June 2023. As long as the Indiana sports betting tax rate stays at competitive levels, Indiana bettors will continue to generate significant revenue from Indiana sports betting taxes. This also means that Indiana sports betting revenue has consistently been healthy since the trade was legalized in the Hoosier State.
Indiana Sports Betting Handle
Sports betting handle refers to the total amount of money that has been wagered by a specific population. Nationally, people are definitely betting on sports. The sports betting handle for the entire country in 2022 was over $93.7 billion, which was more than $36 billion more than 2021. The national 2023 sports betting handle through May was already at $40 billion. Sports betting continues to grow and grow and Indiana sports revenue by state is impressive.
The most recent Indiana sports betting handle came in at $224 million for June 2023. That was by far the lowest handle for the year and more than $59 million lower than May. With 13 online sportsbooks, including industry giants FanDuel, DraftKings, Caesars and BetMGM, as well as 15 retail betting sites, IN is now a sports betting hotbed.
The Indiana sports betting handle for 2022 was nearly $4.5 billion. The summer months were the lowest for Indiana in 2022 as well. Still, Indiana sports betting handle has not dipped below $200 million per month any time in the last year and a half. With sports betting now legal and available next door in Ohio, a slight dip in annual Indiana sports betting handle may be expected.
Indiana Sports Betting Handle Per Capita
Indiana is currently the 17th largest state in terms of population, coming in close to 6.85 million residents. The Indiana sports betting handle per capita based on 2022 handle is about $653. That puts Indiana in the top half of all states with legalized sports betting, although Nevada blows everyone away with a 2022 per capita average of $2,636, followed by New Jersey ($1,138), Colorado, New York and Arizona. Per capita in this sense is the annual sports betting handle of a state divided by that state’s population.
Despite a population of around 3.21 million that has it sitting 31st in the nation, Nevada is one of the main sports betting havens in the entire country, so their per capita lead makes sense. Indiana sports betting revenue should continue to hold despite Ohio’s newer presence in the industry.
Indiana Sports Betting Hold
Sports betting hold is defined as the percentage of money that a sportsbook keeps for every dollar wagered by users. For example, if a sportsbook has a monthly handle of $10 million and a revenue of $2 million, that means they paid out $8 million in winnings. That also means that the hold would be 20%.
Through six months of 2023, the Indiana sports betting hold percentage is 9.28%, which is up .43% from the 2022 average. That is also a shade higher than the 9.05% national sports betting hold average. Indiana sports betting also beat the national average in 2022 as well, posting an 8.70% holding percentage for the year, which was .60% better than the national average.
FAQs
Yes, Indiana sports betting taxes are imposed on all Indiana residents who participate in and win in sports betting. They have to pay the Indiana sports betting tax rate of 9.5% on all winnings.
The Indiana sports betting handle for the first six months of 2023 totals $2,045,335,625, for an average of $340,889,270.97 per month.
The Indiana sports betting hold through the first six months of 2023 is 9.28%. The Indiana sports betting hold for all of 2022 was 8.70%. Both of these percentages are higher than the national average for the same time periods.
From the time of legalization on October 3, 2019, Indiana has made more than $1 billion
Indiana sports betting revenue helped generate Indiana sports betting taxes of more than $37 million in 2022 and more than $18 million in revenue in 2023 through the month of June.