by: Wes Mills, Inside INdiana Business
Posted: Feb 12, 2021 / 05:06 PM EST / Updated: Feb 12, 2021 / 05:06 PM EST
INDIANAPOLIS (Inside INdiana Business) — Legalized sports gambling in the Hoosier State registered another record month to start the year, measuring nearly $350 million in January. Based on data from the Indiana Gaming Commission, it is the fifth consecutive month for record betting. The bets in January yielded $2.8 million in tax revenue.
Indiana sportsbooks accepted $348 million in wagers in January, compared to $313 million in December and $171 million in January 2019.
Analysts with PlayIndiana.com say 2021 will be a pivotal year for Indiana’s sports betting industry.
“Illinois and Michigan, which were two feeder markets in the early days of sports betting in Indiana, will continue to grow. And Ohio is moving toward regulating sports betting, too,” said Jessica Welman, analyst for PlayIndiana.com. “So, sportsbooks will increasingly have to rely on in-state bettors. That said, the market continues to prove more than capable of standing on its own.”
According to PlayIndiana projections, Indiana could top $3 billion in bets and $20 million in state taxes this year.