Indiana Sports Betting Handle Shows 25% Decline in April
Without a full month of NCAA Tournament basketball in the state, Indiana sports betting was down 25.4% for April.
In the state’s report posted Wednesday, Indiana had a sports betting handle of $236.4 million for the month, down from March’s $316.7 million. Still, the number was a marked improvement over April 2020 when sports and casinos were shut down to the coronavirus pandemic. This April’s handle was 798% higher than last year’s total of $26.3 million.
Indiana posted its all-time sports betting handle record of $348.2 million in January.
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The sports betting revenue in April amounted to $20.1 million (taxable AGR), down 23.8% from $26.4 million in March. The sports wagering tax came in at $1.9 million for the month, also a decrease of 23.8% from March’s $2.5 million.
Similar to March, mobile sports betting accounted for most of the state’s overall sports betting handle. According to the report, internet sports wagering accounted for $214.6 million of the handle, down 25.2% from March’s $286.8 million. Just as it was in March, the mobile sports betting handle for April accounted for 91% of the state’s total handle.
Indiana added two new sportsbooks in April and is expecting the launch of Barstool Sportsbook by the end of May.
After receiving approval in late March, WynnBET launched in Indiana on April 1 while TwinSpires joined the market on April 20. Both sportsbooks are partnered with Rising Star Casino Resort in Rising Sun, about two hours southeast of Indianapolis.
Penn National Gaming CEO Jay Snowden said in an earnings call last week that Barstool will be live online in Indiana in time for the Indianapolis 500 and NBA playoffs. He said Barstool will be live online for sports betting in eight states total by the start of football season 2021.
Indiana Sports Betting Revenue & Handle, April vs. March
|Total handle||Mobile handle||Revenue (taxable AGR)|
|Change||Down 25.4%||Down 25.2%||Down 23.8%|
Handle by Sportsbook
DraftKings, partnered with Ameristar Casino in East Chicago, recorded the highest online sports betting handle at $79.2 million. FanDuel, which is associated with Blue Chip Casino in Michigan City, was second in online handle at $67.1 million. BetMGM and Belterra Casino in Florence was third in mobile sports betting handle with $30.9 million, followed by Hollywood Casino in Lawrence with PointsBet at $10.3 million and French Lick Resort with BetRivers at $7.3 million.
Hollywood had the largest retail sports betting handle at $8.4 million, followed by Ameristar ($5.2 million), Horseshoe Hammond ($2.8 million), Caesars Southern Indiana ($1.4 million) and Indiana Grand ($1.1 million) to round out the top five.
Indiana’s 13 casinos reported a total win of $211.7 million, an increase of 1.2% from March’s $209.1 million. Total casino win includes slots and table games. The Taxable AGR came to $202.9 million, up 2% from March’s $198.8 million.
Lower Handle Not Surprising
Considering the impact March Madness had on Indiana’s sports betting handle, it’s not a surprise to see lower handles reported for April.
In March, basketball accounted for more than half of the $316.7 million handle with $160.7 million in bets. It was the first NCAA Tournament for many states since legalized sports wagering, and the first to be played exclusively in Indiana.
The Final Four and the national title game still took place in April, which helped basketball to again be the most wagered on sport during the month. Basketball accounted for $76.1 million of the handle, with baseball the next most bet on sport at $44.5 million. Parlays took in $60.4 million in bets.
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