Indiana Sports Betting Flourishes in April with Year-on-Year Growth
Indiana’s sports betting scene showed a robust performance in April, with a total handle of $393.9 million. This represents a notable increase of 22.6% from April 2023, though it reflects a decrease of 21.4% from the previous month, March 2024.
Breakdown by Sport
Basketball led the charge as the most popular sport for bettors in Indiana, generating $121.5 million in wagers. This surge is likely due to the NBA playoffs, which typically draw high betting volumes.
Baseball also saw substantial activity with $67.7 million wagered, coinciding with the start of the MLB season. Additionally, $2.9 million was bet on football during a relatively quiet off-season period, and $84.8 million was placed on a variety of other sports. Parlay bets also remained popular among bettors, contributing $116.8 million to the total handle.
Revenue Insights
Taxable adjusted gross revenue from sports betting was reported at $37.1 million for the month, up 26.2% from April 2023, showcasing significant growth in profitability year-over-year.
However, this was a 5.8% decrease from the revenue in March 2024. The state collected $3.5 million in taxes from sports betting for the month, indicating the fiscal contribution of the industry.
Leading Operators in the Market
FanDuel and Blue Chip Casino emerged as market leaders, generating $15.3 million in revenue from bets totaling $129.1 million.
DraftKings and Ameristar Casino also showed strong performance, recording $12.6 million in revenue from $145.7 million in wagers.
Other notable contributors included Belterra Casino in partnership with FanDuel, which brought in $3 million from $31.7 million, and Hollywood Lawrenceburg along with ESPN Bet, which earned $2.2 million from $25.2 million.
Additionally, French Lick Resort and Bet365, as well as Harrah’s Hoosier Park and Caesars, reported revenues of $1.7 million and $1.2 million respectively.
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