Indiana February Handle Dips, Ending Streak of Record Months
Indiana’s five-month streak of record-setting figures for sports wagering ended in February.
The Indiana sports betting handle in February was $273.9 million, a drop of 21.4% from January when the handle hit an all-time high of $348.2 million for the Hoosier state.
For taxable adjusted gross revenue, February was just a shade under $17 million ($16,955,904 to be exact) and that was down 42.2% from $29.3 million in January. A reason for the revenue plunging even more than the handle was that the hold for the sportsbooks in February was 6.2%, compared to a January hold of 8.4%.
In line with the drop in revenue was a decrease of 42.2% in sports wagering tax of $1,610,811, compared to January’s $2,786,357 at top Indiana sportsbooks.
Indiana Sports Betting, February vs January
|Total handle||Mobile handle||Revenue (taxable AGR)|
|Change||Down 21.4%||Down 18.6%||Down 42.2%|
While January-to-February comparisons were down, the year-over-year sports wagering financials for the same month were far higher with increases of 46.3% in handle, 52.9% in taxable AGR, and 52.9% in tax collections compared to February 2020.
Mobile Wagering Dominant Again
As is often the case, mobile wagering outpaced retail sportsbook action by a wide margin in February in Indiana. The $246.6 million in online handle was just about 90% of the total.
Among individual online sportsbooks, DraftKings, FanDuel and BetMGM remained 1-2-3 in handle. DraftKings, affiliated with Ameristar Casino (East Chicago), had about $107.4 million in total handle in February; FanDuel, partnered with Blue Chip Casino (Michigan City), had handle of $70.9 million, and BetMGM, in association with Belterra Casino in Florence, showed handle of $33 million. PointsBet (Hollywood Casino Lawrence) had a handle of $11.3 million; BetRivers (French Lick Resort) showed handle of $7.5 million, and William Hill (Tropicana Evansville) had handle of $5.6 million.
FanDuel’s gross receipts was the monthly leader with $4.96 million compared to No. 2 DraftKings at $3.74 million.
Among the state’s retail sportsbooks, Hollywood Lawrenceburg was the runaway leader taking $10.3 million in bets, more than twice the next closest casino and about 38% of the total for the state.
Total win for Indiana’s 13 casinos (tables plus slots) was $135.6 million, down 19.1% from January ($167.6), with the calendar (three fewer days in February than January) certainly a factor in the bricks-and-mortar business. Taxable AGR was $127.6 million, down 18.6% from January ($156.8). Total tax collections, including casino and sports, was almost $41.1 million.
A proposal to add online casino in Indiana stalled out recently. Two online casino bills failed to meet the legislative deadline to get through the committee stage in the process.
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