Since 2020, Indiana has been home to some form of legal sports betting. In the last two years, they’ve eclipsed a handle of $4 billion. Sports betting in the Hoosier State grew even larger in 2024 when the Indiana Fever selected Caitlin Clark in the 2024 WNBA Draft. Clark was a generational talent at Iowa in college and she’s brought hype to Indiana basketball. The state is on pace to exceed $5 billion in wagers for 2024. That would be a new state high for gross revenue.
Notable sports betting moments from 2024 in Indiana
Sports betting continues to grow across the United States, which remained true in Indiana during 2024. On January 30, bet365 first opened for operation in the Hoosier State. They joined DraftKings, FanDuel, BetMGM, Caesars, and ESPN BET. In late February, Fanatics Sportsbook also joined the market in Indiana. That gave the state a total of 12 online casinos.
April was a massive month for the Indiana Fever. The #1 pick in the 2024 WNBA draft was highly coveted and the Fever won the lottery. That gave them the right to draft two-time All-American, Caitlin Clark out of Iowa. Clark immediately became a favorite for sports bettors to place wagers on. That included single-game markets and futures on Clark to win Rookie of the Year and even league MVP.
During June, the Indiana sports betting market saw a growth in basketball wagering. There’s no denying that Caitlin Clark was massive for the state’s success over the summer. However, the Indiana Pacers played a factor as well. Tyrese Haliburton and the team made a surprise run to the Eastern Conference Finals. Unfortunately, the team was swept in four games by the Celtics.
In July 2024, Indiana saw one of the largest sports betting scandals of the year. It involved an Indiana gambler who placed a suspicious wager on an Alabama baseball game. Businessman Bert Neff Jr. used inside information he received from an Alabama baseball coach. Neff Jr. received an eight-month prison sentence for his involvement in the betting scandal. Most recently in October 2024, state sportsbooks set a new record with $537.9 million in wagers. That came after a record $55 million in revenue during September.
What is the current state of sports betting in Indiana as 2025 approaches?
There are 16 legal retail and 12 legal mobile sportsbooks in the Hoosier State. It’s home to commercial casinos, racinos, and online sports betting operators. To obtain a sports betting license in the state, operators must pay an initial $100,000 license fee. That includes a $50,000 annual fee to keep the license while also charging a 9.5% tax rate for betting revenue. Heading into 2025, there isn’t an issue the state needs to desperately take care of. A positive outlook for Indiana’s sports betting market in the new year.
