The sports betting scene in the state of Indiana is heating up with another mobile application joining the party as FanDuel launches its platform.
FanDuel Mobile Application Launch
Sports betting became legal in the state of Indiana in September. At the time, only physical sportsbooks were taking wagers as mobile applications had not yet me approval. That changed a month later when the mobile betting became available in Indiana.
BetRivers and DraftKings got the mobile wagering party started in the Hoosier state. Now that FanDuel has joined them, it seems like sports wagering is only set to grow here. The new option is expected to boost the revenue generated by sports betting significantly.
Indiana Neighbors Slow to Get Going
One reason there is so much room for optimism surrounding the revenue estimates in Indiana is the current state of affairs with their neighboring states. Illinois, Michigan and Ohio all boarder Indiana. None of them have legal sports betting at the moment. What that means is, all they have to do is drive across state lines, log into one of the mobile platforms, and make their wager.
Take the case of Chicago, one of the wealthiest cities in the country. There is a casino in Indiana that is less than an hour drive. In fact, that same casino offers a free shuttle service to and from downtown Chicago. That’s a case of knowing where your bread is buttered. Few cities in the United States are more sports crazy than the Windy City. They are legitimately the 3rd biggest market in the country which means the casinos on Indiana’s boarder are right next to a gold mine.
September Revenue Impressive
Even without mobile sports betting, the numbers coming out of Indiana in September were very impressive. The Indiana Gaming Commission reports a total handle of $35.2 million. That was good enough to bring in $8.6 million dollars in revenue. That number is extra impressive considering the impact mobile wagering is sure to have.
If we take the state of New Jersey for example, who are currently challenging Nevada as kings of legal sports betting. They get 80% of their wagers through mobile platforms. That tells you that there is an entire market of people in Indiana that haven’t bet yet because of the convenience aspect of it. Offshore companies still provide mobile wagering and although they are illegal, they are also barely regulated. People will always choose the most convenient option, especially if they know that the rules aren’t enforced.
FanDuel Looking to Take Over in Indiana
Right now, FanDuel is the number one sportsbook in New Jersey and Pennsylvania. Those two states have mature betting markets as compared to Indiana who are just getting started. With that in mind, it might be a little slower process but FanDuel expects to have the same impact in Indiana as they do in Jersey and Pennsylvania.
The revenue possibilities may not be quite the same due to differences in population but there is no shortage of sports fans in the Hoosier State. With professional teams in the NBA and NFL to go along with some big time college programs, there will be tons of action for all parties involved in Indiana.
