Indiana Sports Betting Handle Bounces Back in March at $316.7M
Not surprisingly, Indiana’s sports betting handle bounced back in March after a drop in February.
Indiana reported a handle of $316.7 million, which was a 15.6% increase from the $273.9 million handle in February. Despite the jump — and with the state hosting the entire 2020 NCAA men’s basketball tournament — the March handle was not a record for the state. In January, Indiana posted an all-time sports betting handle record of $348.2 million.
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For taxable adjusted gross revenue, March recorded $26.4 million, up 55.4% from February’s $17 million. The increase in revenue also resulted in an increase in the sports wagering tax to $2.5 million, up 55.4% from February’s $1.6 million.
Mobile Betting Leads the Way Again
Mobile sports betting once again made up the majority of the overall handle, according to the report, with mobile wagering accounting for $286.8 million, an increase of 16.3% from February’s mobile handle of $246.6 million. Mobile was 91% of the total handle in March.
Partnered with Ameristar Casino (East Chicago), DraftKings recorded the highest handle of March with $111.2 million. FanDuel, affiliated with Blue Chip Casino (Michigan City) recorded a handle of $91.2 million, while BetMGM and Belterra Casino in Florence had a handle of $39.4 million. PointsBet and Hollywood Casino in Lawrence had the fourth-biggest online handle at $13.1 million, with BetRivers and French Lick Resort rounding out the top five at $9.1 million.
DraftKings had the highest gross receipts at $8.5 million, with FanDuel in second at $6.7 million.
On the retail side, Hollywood Lawrenceburg took in the biggest handle at $10.8 million, with Ameristar coming in second at $6.1 million.
Total casino win for Indiana’s 13 casinos came in at $209.1 million, up 54.2% from February’s $135.5. Total casino win includes tables and slots. Taxable AGR was $198.8 million, which was an increase of 55.9% from February’s $127.6 million.
Indiana Sports Betting, March vs. February
|Total handle||Mobile handle||Revenue (taxable AGR)|
|Change||Up 15.6%||Up 16.3%||Up 55.4%|
Basketball provides a boost
With the NCAA Tournament being held for the first time since many states legalized sports betting, it was expected to provide a boost to sports betting handles across the country. But maybe even more so for Indiana, which is known as a basketball-crazed state.
Even though there weren’t many betting options for Indiana residents to back a hometown team, basketball accounted for more than half of the overall sports betting handle for March with $160.7 million.
It was a short-lived tourney for Indiana sports fans. The only team from the state to make the tournament was Purdue, but the Boilermakers were upset in the first round and lost straight-up as seven-point favorites to North Texas.
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