The Indiana Gaming Commission (IGC) reported a record $53.5 million in adjusted gross sports betting revenue for January on Monday, as parlay handle accounted for more than half the state’s $480.6 million worth of wagers.
It was the first time Hoosier State sportsbooks recorded back-to-back months with at least $50 million in revenue, as they built off December’s haul of $50.6 million. The previous record was $51.2 million set in September 2022. Operators statewide posted an 11.1% hold, sixth-highest in 53 months of legal betting, as it reached double digits for the sixth time in the last nine months.
Parlay handle as a percentage of the total handle in Indiana topped 40% for the first time in December, which was also the first time it surpassed $200 million. Bettors went much higher to start 2024, putting down a whopping $269.9 million worth of wagers on the multi-leg bets.
That was $64.2 million more than December’s short-lived record of $205.7 million. The IGC does not disclose revenue figures for sport category, but parlay handle accounted for more than 56% of the total amount bet in January.