Indiana Breaks Sports Betting Handle Mark Again in February

Indiana Breaks Sports Betting Handle Mark Again in February
© USA Today

Indiana set a monthly handle record again in February at $187.2 million as mobile sports betting continued to help drive the growth.

Bolstered by bettor interest in basketball, the state's seeming obsession with parlays and perhaps the addition of a fifth mobile sportsbook choice in the state, Indiana's new monthly handle record was up 9.6% over January's $170.8 million, according to the Indiana Gaming Commission.

The adjusted gross revenue reported was $12.9 million in February.

Indiana Sports Betting Handle, February vs. January

ChangeDown 13%Up 18.3%Up 9.6%

Mobile Betting Market Continues Growth

Mobile betting at top Indiana sportsbooks has continued to grow since being introduced in September. While the state's mobile sportsbooks haven't combined yet to reach the industry benchmarks set by sportsbooks in New Jersey and Pennsylvania, where recent monthly reports show that more than 85% of the total action came via mobile and online bets, Indiana's fledgling mobile and online betting market does keep growing month-over-month.

February's mobile and online handle hit $145.89 million or nearly 78% of the total handle. The mobile and online sportsbooks in Indiana accounted for 72% of the total action in the state during January and just 68% in December. Indiana's smaller population (nearly 6.7 million) likely won’t allow it to compete with New Jersey (nearly 9 million) and Pennsylvania (nearly 13 million) in terms of total handle figures, but the continued growth of its mobile market should help the state reach its full potential.

DraftKings and FanDuel Continue Rivalry

As it is across many states with mobile and online sportsbooks operated by industry leaders DraftKings and FanDuel, the Hoosier State is shaping up to be quite the battle between the two companies.

In February, DraftKings staved off FanDuel to remain the mobile and online market leader in the state with $74.1 million in mobile handle. But FanDuel continued to gain ground, jumping up from just $49.5 million the prior month to $63.8 million in February.

The state's other three mobile and online sportsbooks that were operational during the second month of 2020 included BetRivers, with $7.7 million in mobile handle, BetAmerica, with $212,953 in mobile handle, and the newly launched BetMGM, with $70,061 in mobile handle.

Additionally, more mobile sportsbooks are on the way. BetMGM launched on Feb. 25. PointsBet launched the sixth mobile and online platform in the state during March, and more are soon to follow.

Indiana Bettors Love Basketball & Parlays

Basketball bets led the way in the state at $90.1 million of the total handle during February. With March Madness betting set to begin, the state is likely to see an even greater number of basketball bets on the horizon.

Parlays have also been a big hit in the state. In fact, parlays accounted for $44 million of the total handle during February, proving that perhaps Indiana bettors love the chance to hit it big by linking their bets together for huge returns.

Bettors placed $11.6 million in bets on football during the month, likely almost exclusively on the Super Bowl, and $39.7 million was bet on things listed in the "Other" category, which is everything except football, basketball, baseball and parlays.

Baseball betting rounded out the action at $329,340.

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