Indiana set another new record for sports betting. For the fifth straight month, the state had its best month ever, as Hoosiers wagered $348.2 million in bets in January. That money turns into about $29 million in revenue for Indiana.

“The industry is getting a little older and a little more mature, so there’s natural growth that comes with that,” Jessica Welman with PlayIndiana.com said. “There’s also the fact that, you know, people love football.”

Hoosiers bet on the NFL playoffs the most, followed by the NBA and college basketball. DraftKings and FanDuel are still the two most popular sports betting apps in the state.

Welman says the next couple of months could be even bigger for the state, especially with March Madness coming up.

“Given how Indiana is tracking, it’s going to be an absolute record-breaker for March,” she said.

There is one potential downside that could prevent numbers from being even higher though. Welman says even with the entire tournament being in the Indianapolis area, the attendance at the games won’t be what it normally is for March Madness.

“So the excitement from the people being able to be in the stands and bet on the teams, we’re not going to see that this year,” she said.

Welman and her PlayIndiana.com colleagues are projecting Indiana having a huge 2021 when it comes to sports gambling.

“It’s very possible that Indiana could place $3 billion in wagers over the course of the year,” she said. That turns into about $200 million in revenue for the state.