Indiana sees huge growth in sports gambling during first four months of activity
The Hoosier State’s sports gambling market continues to grow by leaps and bounds
After four months of operating sports gambling operations legally in the state, Indiana is thrilled about the increased revenue it has been experiencing since then. A new report from the Hoosier State declared a total of $436 million in wagers from September 1 to December 31, 2019, which is impressive. Besides the fact that it was recently legalized, some other factors helped these continuing rising numbers.
The revenue has been escalating since September which collected $35.2 million, then in October it went up to $91.7. November saw a huge increase and the total revenue went up to $147.3 million and finally, December broke all records with a $161.8 million wagered in the state. It seems to be that investing in offering a mobile service to gamblers pays off, as mobile betting started its operations in Indiana as of October and is one of the three states with a similar service of placing bets from a mobile platform. Two other states, New Jersey and Pennsylvania, along with Indiana, are seeing how the numbers blow up in favor of the mobile gambling option.
“You can download an app and bet on a college football game after two beers,” said Michael Hicks, a professor of economics at Ball State University. “Who wouldn’t do that?” For Hicks, these numbers come in no surprise based on his analysis. “Most casino goers are simply treating the casino as a substitute to going to a movie and having popcorn,” said the professor. “A couple going to a casino is not radically different than a regular date night.”
The timing of Indiana’s sports gambling launch couldn’t have been better. The activity was authorized just head of the final few months of the year, when the NFL, NBA, college football and basketball were in the middle of their seasons. This gave sports gambling fans plenty of opportunities to place their bets.