Indiana has just shattered its previous record for monthly sports betting, with an astounding $513.7 million wagered in November. This surpasses the previous high of $500.1 million set in January 2022 by 2.7%. It also represents a significant year-on-year increase of 13.6% compared to November 2022 and a remarkable 19.6% jump from October 2023.

While the total amount wagered is impressive, the taxable adjusted gross revenue tells a different story. Indiana only generated $30.7 million in revenue for the month, falling behind the $40 million from the same period last year by 23.3%. Additionally, it is 32.1% lower than the $45.2 million revenue generated in October 2023.

Basketball took the lead in wagers, with a staggering $145.7 million bet on the sport. This surge was largely driven by the start of the new NBA season in late October. American football came in second place, with bets totaling $136.9 million. Baseball trailed far behind but still drew $1.1 million in wagers. Parlay bets accounted for $169.8 million, while other sports saw bets worth $59.8 million.

Blue Chip Casino and FanDuel emerged as the top performers in Indiana’s sports betting market, pocketing $12.4 million in revenue from $176.3 million wagers. They overtook the previous leaders, Ameristar Casino and DraftKings, who earned $10.5 million in revenue. Interestingly, though, more wagers were placed with Ameristar Casino and DraftKings, totaling $190.5 million for the month. Belterra Casino, another FanDuel partner, secured the third spot with $1.9 million in revenue from $38.1 million bets.

The State of Indiana reaped the benefits of this sports betting surge, collecting $2.9 million in tax revenue by the end of the month.

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