Indiana has been home to legal sports betting since 2020 and has eclipsed $4 billion in handle in each of the past two years. But the landscape changed in 2024 when a sports superstar landed in the Hoosier State.
The Indiana Fever selected Caitlin Clark with the first pick in the WNBA draft in April, a move that would make waves across the sports and betting industries.
Indiana is on pace to exceed $5 billion in wagers for the calendar year and set a new high for gross revenue.
Aside from the arrival of Clark, here are other notable sports betting highlights from the past calendar year.
Indiana Sports Betting: 2024 Highlights
Jan. 30: bet365 launched in Indiana, joining the likes of DraftKings, FanDuel, BetMGM, Caesars, and ESPN BET in the Hoosier State.
Feb. 27: Fanatics Sportsbook also entered the sports betting arena in Indiana. The addition brought the total of online sports betting options in the state to 12.
Apr. 15: The Fever may have won the WNBA draft lottery, but the Hoosier State hit the jackpot by earning the right to select Caitlin Clark first overall. Almost immediately, Clark and the Fever were favorites among sports bettors in the WNBA futures market.
June: By the summer, Indiana sportsbooks saw a massive spike in basketball betting action. The Caitlin Clark Effect played a role, but so too did the the Indiana Pacers' run to the NBA Eastern Conference Finals.
July 2: BlueBet terminated its market access agreement with Horseshoe Hammond Casino in Indiana.
July 30: One of the biggest sports betting scandals of the year involved an Indiana gambler who placed suspicious bets on an Alabama college baseball game. Local businessman Bert Neff Jr., using inside information from the Alabama baseball coach, attempted to place large wagers on a spring baseball game. He received an eight-month jail sentence for his role in the scandal.
September: Back to the Caitlin Clark Effect, the superstar guard helped spur record setting betting on the WNBA during the league's regular season.
Betting on the WNBA at @BetMGM ?
— Jon Metler (@JonMetler) September 20, 2024
The handle on the WNBA will only continue to grow once Paige Bueckers and JuJu Watkins join Caitlin Clark in the WNBA.
You love to see it!!! pic.twitter.com/Tsg5yWE7ps
Sept. 4: Indiana Gaming Commission executive director Greg Small stepped down to take a position with sweepstakes sportsbook Fliff. Dennis Mullen stepped in as acting executive director.
October: Indiana sportsbooks set a new handle record in October, generating $537.9 million in bets. This came after reaching a revenue high of $55 million in September.
Indiana Sports Betting: Where Things Stand
Indiana is currently home to commercial casino, racino, and online sports betting operators. There are 16 legal retail sportsbooks and 12 legal mobile Indiana sports betting options.
The state charges $100,000 in initial license fees and $50,000 for annual renewals. It also charges a 9.5% tax rate on sports betting revenue.
Indiana Sports Betting: What's Next?
There's nothing pressing in regards to sports betting legislation in the Hoosier State. However, changes to the college sports betting market are always a possibility. College player prop bets are currently allowed in Indiana, just not in-game. NCAA president Charlie Baker continues his crusade against college player prop bets.
Indiana Sports Betting: Notes and Quotes
Caesars Sportsbook pro basketball lead David Lieberman:
"It's pretty obvious that the interest in betting (on the WNBA) has gone up year over year. I think (Caitlin) Clark really drove it. The player prop bets were much higher, and she's just super popular in terms of those."
