Indiana makes big start to 2022 with record $500m handle for January

Indiana has kicked off 2022 with over $500m in wagers for January, a record-breaking sum that surpasses its previous all-time high by more than $35m.

MoneyFootball

The NFL playoffs and a surge in online betting drove the Hoosier State’s handle to new heights, according to PlayIndiana.

In fact, online wagering was responsible for over 90% of Indiana’s January handle. Altogether, online bets amounted to more than $458m.

DraftKings led the way, taking nearly $160m in wagers, almost one third of January’s total betting action.

Meanwhile, football and basketball were the most bet-on activities, seeing $118.3m and $192.4m in wagers respectively.

And this was before February’s Big Game, which will undoubtedly drive this month’s betting action.

While February 2021 only attracted $18.7m in football wagers, Indiana’s sports betting market has grown considerably since then.

However, Jake Garza, a PlayIndiana analyst, believes that January will be the final month where Indiana posts big betting numbers until the NFL makes it return later this year.

“Hoosiers are betting more money on sports in general, which will likely lead to an increase in Super Bowl betting as well,” he wrote.

“January will likely be the final month of powerhouse numbers until the NFL returns next fall. Basketball struggles to carry the load on its own while football is in its off season.”

All-in-all, the Hoosier State’s $500m handle translated to more than $3.3m in taxes and $29.3m in sportsbook revenue.

January also marked the first time that Indianans have wagered $500m in a single month, and saw the Hoosier State surpass the half-billion-dollar milestone for lifetime sports betting revenue.

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