Indiana Sports Betting Revenue Falls Drastically in February

After starting the year on a high, Indiana sports betting numbers fell to earth with a bump in February as the state’s handle declined by 18.2% month-on-month. The total amount wagered by Hoosiers during the month tallied $409.1 million, down from $500.1 million in January.

However, when compared to the figures reported in the same period last year, February’s handle was up by 49.4% year-on-year. Operators in the state took in $273.9 million in wagers in February 2021.

The decline in handle saw the revenue generated by the industry fall by a wide margin as the monthly hold dropped from $35.6 million in January to $17.0 million in February. The figure shows a 52.2% dip month-on-month.

Operators paid $1.6 million in taxes to the state in February, down by 52.9% from the $3.4 million collected in January.

How did Hoosiers place their bets?

The monthly sports wagering report shows that 94.23% of the bets placed by Hoosiers last month came in through mobile sportsbooks.

The 13 digital sportsbooks active in the state in February combined to post $385.5 million in wagers, a decrease of 17.2% from the $465.5 million posted in January. The brands licensed to offer mobile betting in Indiana include DraftKings, thescore Bet, Bally Bet, FanDuel, Caesars, Unibet, Betway, BetMGM, BetRivers, Barstool, PointsBet, TwinSpires, and WynnBet.

A 14th brand, SBK Sportsbook, launched in the state on Thursday through a partnership with Rising Star Casino. SBK Sportsbook is owned by London-based sports betting company, Smarkets.

Moving on to the most popular sports markets, basketball had the highest handle for the month at $201.9 million. The amount staked on the sport in January was $192.4 million, which translates to a $4.9% increase month-on-month.

Parlay betting came second with $101.4 million in handle for the month, down from $122.6 million in January. The end of the postseason football schedule saw the amount wagered on the sport decline from $118.3 million in January to $30.1 million in February.

Baseball generated $97,273 in wagers during the month, while the amount staked on all other sports that were not listed individually tallied $74.3 million.

A look at Indiana’s top sportsbooks in February

The report published by the Indiana Gaming Commission on Friday further gives a breakdown of each operator’s revenue and handle numbers for the month.

DraftKings was the top online operator in the state after reporting $121.5 million in bets and $7.3 million in gross wins. FanDuel Sportsbook came in second place with $107.7 million in handle and $44.9 million in gross receipts.

The third operator in the online market was BetMGM, which posted a $52.4 million handle and $3.9 million in gross revenue for the month. William Hill took the fourth spot after generating $2.0 million in gross wins from a $45.1 million handle, while PointsBet had the fifth-highest handle at $14.4 million. PointsBet’s hold for the month was $579,874.

The only other licensees with more than $10 million in internet handle were BetRivers and Barstool, which took in $13.9 million and $13.8 million worth of wagers in the month, respectively.

Hollywood Lawrenceburg was the leading retail operator with $10.5 million in betting handle and $428,406 in wins. The second spot in the land-based sector went to Ameristar Casino, which handled $3.9 million worth of bets through the month.

Horseshoe Hammond also had a good month after generating $287,517 in gross receipts from a $2.8 million handle