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According to reports, the several land-based and online sportsbooks in the US state of Indiana experienced a nearly record-breaking December after raking in close to $25 million in combined gross profits and slightly more than $463 million in total handle.
The Hoosier State has allegedly become the fifth American jurisdiction to have passed the $6 billion sportsbetting handle benchmark since the 2018 repeal of the Professional and Amateur Sports Protection Act, joining Nevada, New Jersey, Illinois, and Pennsylvania, according to a Wednesday report from the online news site PlayIndiana.com that cited official information from the Indiana Gaming Commission (PASPA).
Around 6.8 million people live in Indiana, which legalised retail sportsbetting in September 2019 and then let citizens to make a wide range of online bets. The handle total for December allegedly increased by 47.9% year over year, but it fell just short of the record-breaking $463.7 million recorded the month before as the daily betting volume dropped from $15.5 million in November to $14.9 million.
Jake Garza, an analyst for PlayIndiana.com, said that the state of Indiana's combined sportsbetting revenues for December exceeded $306 million, breaking through an 8% hold. The industry's yearly tax contribution increased by 120.6% to reach $29 million as a result of all of this, he continued, and it included almost $2.4 million for the previous month alone.
"Sportsbooks have had such a strong fall that anything less than a record month almost seems unexpected. In this environment, sportsbooks continued a spectacular four-month period in which wagering was up 73.8% year-over-year, with betting and revenues remaining close to all-time highs.
The sportsbetting industry in Indiana had a "explosive year," according to PlayIndiana.com, as the state's combined annual online and retail handle increased by 116.4% year over year to surpass $3.8 billion. This will likely move the Midwestern state up to the seventh spot in the United States' volume hierarchy. The source said that web visitation had surged by 132% to almost $3.4 billion, and that the jurisdiction's twelve-month gross sports wagering revenues had risen by 125.5% to hit $307.6 million.
According to him and Eric Ramsey from PlayIndiana.com, retail sportsbooks produced the remaining $40.2 million, leaving internet sports wagers to account for the remaining 91.3% of Indiana's total December volume. He said that DraftKings Incorporated's mobile-friendly service had once again topped the rankings for the month after handling over $148.2 million in remote bets, but that rival FanDuel Group came in a close second with a total of $120.5 million.
"After a turbulent 2020, last year should be regarded as the year when consumers truly accepted online sportsbetting. Despite how spectacular the year was, the business is constantly expanding, and sportsbooks are continually finding new clients and operators are providing ever-more cutting-edge goods. In the meanwhile, Indiana residents are growing more at ease with sports betting in general and more receptive to unconventional types of gambling like in-game betting.
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