In-Depth: Indiana Starts 2022 with Record $500.1 Million Handle in January

January was second-highest month for IN sports betting revenue at $35.6 million. Queen of Terre Haute Casino Resort also moving forward.
image of Queen of Terra Haute Casino in Indiana. The parent company of TwinSpires, Churchill Downs Inc. said it has filed an application with officials in Vigo County, IN to rezone approximately 49 acres on the southeast side of the city for its casino
By
February 17, 2022

Sports betting in Indiana got off to a hot start for 2022, with Hoosiers racking up a record $500.1 million handle in January, according to data from the Indiana Gaming Commission (IGC).

Two months after the previous record for handle — November 2021, $463.7 million — Indiana’s 13 active sportsbooks also had a great month for revenue in January at $35.6 million. It was the second-highest month for revenue since the market’s inception, trailing only November. Tax revenue was $3.8 million in January.

DraftKings Sportsbook led the field with $9.5 million in revenue in January, up from $6.4 million in December. FanDuel Sports was second with $7.6 million in revenue, down slightly from December ($7.7 million), followed by BetMGM Sportsbook in third with just under $5 million, up from $3.6 million the month before.

Indiana’s gaming legislation requires online sportsbooks to enter a partnership with a land-based casino. DraftKings operates its online sportsbook through the license of Ameristar Casino Hotel. FanDuel operates retail sportsbooks at two riverboats — the Blue Chip Casino Hotel Spa and the Belterra Casino Resort — and runs its online sportsbook through Blue Chip. BetMGM runs one of two online sportsbooks at Belterra.

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Caesars Sportsbook was in fourth place for revenue at $2.8 million, followed by PointsBet, which leapfrogged Barstool Sports and BetRivers for fifth place with $1 million.

Caesars runs retail sportsbooks at two casinos —Horseshoe Hammond and Caesars Southern Indiana —- and at Harrah’s Hoosier Park, a racino in the state. Caesars also operates its mobile sportsbook through Horseshoe and Harrah’s. Meanwhile, PointsBet runs one of two online sportsbooks at Hollywood Casino Lawrenceburg.

BetRivers grossed $814k in January, while Barstool made $739k. BetRivers runs an online sportsbook on the French Lick Resort license and is the partner for the retail sportsbook there, while Barstool operates retail sportsbooks at Ameristar and Hollywood. Barstool also runs the second online sportsbook at Hollywood.

WynnBET led the six smallest operators in terms of revenue with $267k, followed by theScore Bet ($183k), Betway ($162k), TwinSpires ($119k), and Bally Bet ($30k). Unibet recorded a loss of $3k in January.

Queen of Terre Haute Casino Advances

The parent company of TwinSpires, Churchill Downs Inc. (CDI), said it has filed an application with officials in Vigo County, IN to rezone approximately 49 acres on the southeast side of the city for its proposed Queen of Terre Haute Casino Resort.

The casino site is also subject to approval by the IGC.

“For months, people from across West Central Indiana encouraged us to build the Queen of Terre Haute on the east side of town,” said Jason Sauer, CDI’s Senior Vice President for Corporate Development. “We listened, and today we’re excited to start down the path to groundbreaking on a nearly 50-acre site that’s easily accessible from I-70 and State Road 46.

“With continued oversight from the IGC, we look forward to taking the final steps in order to make this project a reality and we are prepared to deliver a true destination casino resort to Vigo County.”

TwinSpires is likely to operate a retail sportsbook through the Queen of Terre Haute. It’s unclear if the operator would also move its online sportsbook there from the Rising Star Casino Resort — a riverboat on the other side of the state.

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