The Hammer and Nigel Show
Indiana Sports Betting Generates $880K in Tax Revenue for November
Sports betting in Indiana generated over $880 thousand dollars in tax revenue for the Hoosier state in the month of November, according to Frank Ignatius, Sports Book Operations Director at BetIndiana.
Speaking with WIBC's Hammer and Nigel show Thursday afternoon, Ignatius says Hoosier wagered more than $150 million dollars last month, a number that analysts expect to more than double when the market hits full maturity.
"New Jersey just broke the record at $570 million, but they're more than one year ahead of Indiana, which will likely reach $325 million in total revenue once the market hits full maturity," said Ignatius. "Keep in mind, we're only about 90 days in, so sports betting in Indiana is just in its infancy in the state."
Ignatius said the Indiana market is unlikely to hit full maturity for at least another two to three years.
"I think the arrows are still pointing up," said Ignatius.
Click the link below to hear Hammer and Nigel's full interview with Frank Ignatius.