Indiana Sports Betting Rebounds in March
As expected, the March sports betting numbers in the state of Indiana were extremely impressive.
The total sports betting handle in March was $316.7 million, which was just shy of the record-setting total of $348.2 million set in January 2020.
February was a disappointing month for the sports betting industry, but March saw an increase of more than 15 percent from the $273.9 million in February. Indiana is expected to set a new sports betting record at some point in 2021, but it will likely happen when the NFL season begins in September.
Online betting was once again the most popular way to bet for residents of the state, as the mobile betting handle was $286.7 million. These numbers were also much larger than February as mobile sports betting increased by over 16 percent.
Mobile betting accounted for 91 percent of all wagers placed, and Indiana has consistently been above the 90 percent mark in most months.
The large jump in the total sports betting handle also helped the gross gaming revenue numbers and the tax revenue for the state. The gross gaming revenue was $26.4 million in the month of March, and the state collected $2.5 million in tax revenue.
Once again, it was DraftKings and FanDuel that led the way in terms of total sports betting handle and gross gaming revenue. These two operators have enjoyed plenty of success in the Hoosier State, both at their retail locations and through their mobile apps.
DraftKings posted a total sports betting handle of $111.2 million for March, and its gross gaming revenue was over $8 million. FanDuel kept the pressure on its rival with a total handle of $91.2 million and gross revenue of $6.7 million.
Sports betting wasn’t the only industry that posted impressive numbers in March, as the casino industry did well also. Indiana is home to 13 casinos, and COVID-19 restrictions have begun to loosen up for most of the state.
The total casino win in March was just over $209 million after it dipped down to $135.5 million in February.
March Madness Helps March Numbers
Industry experts believed that the entire US sports betting industry would see an increase in March, as this is traditionally a big month of sports betting. The NCAA Men’s Basketball Tournament is a popular event to bet on, and March Madness was held entirely in the state of Indiana.
It’s no surprise that basketball was the most popular sport to bet on in the Hoosier State, as basketball brought in over $160 million in total betting handle. This number likely would have been even higher if teams from the state of Indiana made a deep run in the tournament.
The Indiana Hoosiers and Butler Bulldogs failed to make the NCAA Tournament field, and the Purdue Boilermakers were eliminated in the first round in upset fashion. Now that the NCAA season is over, bettors in the state of Indiana will turn to the Pacers and the rest of the NBA for their betting needs.
For more sports news and legal sports betting in Indiana, check out more stories on our blog.
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