Indiana sports betting handle slips below $400m in April

Indiana’s sportsbook handle was down by 24.5% in April, according to the latest monthly revenue report released by the IGC. The state’s sports betting handle for the month tallied $360.0 million, indicating a sharp decline from the $476.8 million reported in March.

However, when compared to the $236.4 million posted in April 2021, the total amount handled by Indiana sports betting operators last month was up by 52.3% year-on-year.

The 14 online sportsbooks active during the month combined to generate $334.7 million in total handle, a decrease of 25.1% from March’s $446.7 million but up by 60.1% from $209.1 million in April 2021.

Both online and land-based operators reported $28.7 million in combined gross revenue from the activity through April, down from $32.3 million in March. The figures indicate an 11.1% decrease in taxable revenue month-on-month.

$2.7 million of the adjusted gross revenue went to the state in taxes.

Baseball betting increases as MLB season picks up momentum

The end of the regular basketball season in early April saw the volume of wagers placed on the sport decrease by 52.9% month-on-month. The amount staked on events across the sport during the month tallied $129.2 million, down from $274.1 million in March.

Parlay cards generated the second-highest handle by sport at $91.3 million, down from $121.3 million in the previous month.

Baseball placed third in terms of handle after attracting $56.7 million worth of wagers, up from $1.6 million in March. The massive jump was driven by the start of the regular MLB season, which kicked off on April 7 and is scheduled to run until October 5.

Football wagers accounted for $3.8 million of the bets placed during the month, while all other sports including soccer, golf, and hockey combined to generate $76.5 million worth of wagers.

FanDuel continues to outpace rival DraftKings

FanDuel was once again the leading mobile sportsbook in Indiana last month after dethroning rival DraftKings in March. The Flutter Entertainment-owned FanDuel sportsbook processed $112.0 million worth of online and mobile wagers in April, down from $143.3 million in March.

Despite the decrease in handle, the operator’s adjusted gross revenue from sports betting was up from $12.1 million in March to $12.6 million in April. The brand’s strong performance also saw its land-based partner, Blue Chip Casino, claim the top spot in the state in terms of total betting handle.

The consortium of Ameristar Casino, DraftKings Sportsbook, and theScore Bet came second after reporting $101.6 million in overall handle for the month, down from $145.9 million in March. The lion’s share of the licensee’s handle came from the DraftKings app, which posted $97.5 million in handle for the month. DraftKings’ taxable revenue for the month was $6.6 million.

BetMGM reported $45.4 million in online wagers and $3.1 million in taxable revenue to rank third in the state. The fourth spot went to Caesars, formerly William Hill. The brand took $36.1 million in wagers from online customers, which generated nearly $1.2 million in taxable revenue.

Hollywood Lawrenceburg had the highest retail handle in the state at $8.4 million, followed by the Penn National Gaming-owned Ameristar Casino in East Chicago. The latter reported $3.5 million in retail sportsbook handle.

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