March Madness betting booms Indiana market.

  • Over $316.7 million was wagered on sports in March in Indiana.
  • This is a 15% increase from February’s betting handle.
  • Sports betting revenue in Indiana is also up 55%.

INDIANAPOLIS – Sports betting in Indiana saw major growth in March after a slight dip in revenue and betting handle in February.

While the numbers did not reach the height that January hit, there was still a boom in bets month over month from February to March that shows Indiana sports betting is still thriving.

The Hoosier State was aided heavily by March Madness betting, with the bulk of the betting action coming from those wagering on the NCAA Tournament.

Indiana’s Continued Success

According to the official report released by the Indiana Gaming Commission, sports betting fans wagered $316,717,762. This is up 15% from the $273.8 million in February.

While this growth is strong, sports betting was still less active than the record-breaking $348.2 million in January.

In terms of sports betting revenue, sportsbooks collected $26,350,639, up 55% month over month. The state collected $2.5 million in taxes off of the 8.3% rate.

March Madness Dominates

College basketball betting fans were the primary participants in Indiana sports betting in March. The March Madness Tournament saw $160,741,256 in wagers, followed by $77,500,968 in parlay bets.

The March Madness Tournament has been one of the biggest sporting events in terms of legal sports betting on the year so far, with only Super Bowl betting seeing more action in Indiana.

Indiana likely also benefited from some Illinois betting fans crossing the border to place action on the tournament.

Illinois ended remote registration on mobile betting, which makes online betting slightly more inconvenient. First-time betting fans likely found it easier to drive to Indiana, bet on the tournament, and return.

DraftKings, FanDuel Dominate

Indiana’s favorite sportsbook continues to be DraftKings. The popular sports betting operator saw 40% of all online betting handle for March. This also accumulated in DraftKings holding 34% of the total sports betting revenue in Indiana for March.

DraftKings was followed only by FanDuel who claimed 33% of the online betting handle and 26% of the total market revenue. BetMGM was third, seeing 15% of the total online betting handle in March.

Indiana has continued to be a powerhouse in the Midwest and this is only expected to continue. With Illinois ending remote registration for mobile sports betting, it is likely that Indiana will reign as the largest sports betting market in the area for the foreseeable future.

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