- According to March’s revenue report released by the Indiana Gaming Commission, Indiana’s sportsbooks generated $476.8
- million in wagers and $32 million in revenue during March.
- This pushed the total betting handle to over $1 billion since launch.
INDIANAPOLIS – A solid March led to Indiana surpassing $1 billion in total sports betting handle in just three months, putting the sports betting market on a historic trajectory.
Indiana Enjoys Incredible March Driven By March Madness
In March, sportsbooks in Indiana handled $476.8 million in wagers, Indiana’s second-largest monthly sports betting handle figure since launching in September 2019. March’s handle also represented an impressive 50% increase from March 2021.
March’s large handle led to over $32 million in sports betting revenue, the third-largest revenue figure since the market launched.
The $32 million in revenue was good for approximately $3 million in tax revenue contributions.
One of the main reasons for the historically solid month for Indiana’s sportsbooks in March was March Madness betting.
According to March’s monthly financial report published by the Indiana Gaming Commission, $274 million of the $476.8 million total betting handle was wagered on basketball.
Parlays were the second-most popular wager among Indiana’s sports bettors, generating $121.3 million in handle.
Football and baseball – out of season in March – generated just $2 million and $1.5 million in wagers on the month respectively, with “other sports” contributing the remaining $76.5 million.
As is the case in most jurisdictions that offer both online and retail sportsbooks, the vast majority of March’s legal sports betting handle came via online sportsbooks.
Of the $476.8 million wagered in Indiana during March, about $440 million in wagers were placed online, with just $36.7 million in wagers placed at retail sportsbooks.
Ameristar East Chicago, BlueChip Pace Operators
Indiana’s top-performing sportsbook during March – from a handle perspective – was Ameristar East Chicago and their affiliated online DraftKings and theScore sportsbooks, handling $145.9 million in wagers and generating about $7.5 million in revenue.
BlueChip and their affiliated FanDuel online sportsbook paced Indiana sportsbooks from a revenue standpoint, generating $12.2 million in revenue.
Can Indiana Maintain March’s Momentum In April?
While March was a very strong month for Indiana’s sportsbooks, they now enter what have typically been slower sports betting months, meaning it may be difficult for the market to match its March performance.
April will be the first month to feature regular-season MLB games in 2022, which should serve to buoy Indiana’s financial figures when combined with the NBA playoffs.
With baseball generating just $1.5 million in wagers during March, any significant increase in MLB betting will help Indiana’s sports betting market maintain its momentum.
On top of the return of MLB, new entrants to the Indiana sportsbook market could help the industry maintain its trajectory.
SBK Sportsbook debuted in March, generating about $21,000 in sports betting handle.
There are five other sportsbooks trending towards launch – PlayUp Sportsbook, MaximBet, SI Sportsbook, fubo Sportsbook, and Hard Rock Sportsbook – and it is possible that a handful of these operators launch in April. If they do, it could help Indiana match March’s financial figures.
News tags: Ameristar East Chicago | Baseball | basketball | BlueChip | DraftKings | FanDuel | football | Fubo Sportsbook | Hard Rock Sportsbook | Indiana | Indiana Gaming Commission | March Madness | MaximBet | MLB | NBA | PlayUp Sportsbook | SBK Sportsbook | SI Sportsbook | theScore
Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.