Indiana Sports Betting Tops $1bn in First Four Months of 2021

Spread the Word:

Indiana sports betting has topped the $1 billion mark in the first four months of this year despite a 25% decline in April’s handle.

The Hoosier State saw a huge shrink in its sports betting handle a month after holding the NCAA Men’s Basketball Tournament exclusively in the state. According to the monthly report released Wednesday by Indiana Gaming Commission, Indiana bettors wagered $236.4 million in April representing a sharp decline in the activity from March which brought in $316.7 million.

However, the 25% drop was not unexpected as numbers are typically lower during this part of the year. Also, the April handle still represented a 798% higher year-over-year comparison as last April’s handle of $26.3 million was eclipsed by the coronavirus pandemic.

With an 8.5% hold rate, nearly $20.1 million in sportsbook revenue was generated in adjusted gross revenue (AGR), down 23.8% month over month. The Hoosier State drew $1.9 million in taxes, representing 24% decline from March.

Indiana sports betting posted its highest handle record of $348.2 million in January.

Indiana Mobile Sports Betting Leads as Usual

Like March, most bets were made digitally in Indiana. Online sports betting accounted for $214.6 million of the handle in April. It was a proportionate decline of 25.2% from March’s $286.8 million, with each month accounting for 91% of the total sports betting handle.

Indiana sports betting added two new entrants– WynnBET and TwinSpires – in April and is likely to see the launch of Barstool Sportsbook in May.

Basketball Still Most Favorite

Basketball, which drew more than half of the $316.7 million handle in March, still toped in April’s chart as the most favorite sport. It accounted for $76.1 million of the handle, thanks to The Final Four and the national title game played during April.

Baseball took the second spot with $44.5 million in handle as the Hoosiers had an entire month to bet on the sport since MLB Opening Day on April 1. Parlays drew $60.4 million in bets. The ‘Other’ category took in $50.5 million in the handle. Football was consoled with $3.4 million worth of bets.

DraftKings Was the King in April

DraftKings saw the highest online sports betting handle last month with $79.2 million. The Boston-based company has partnered with Ameristar Casino in East Chicago.

FanDuel – which is a digital skin of Blue Chip Casino in Michigan City- grabbed the second-highest online share by posting $67.1 million.

BetMGM – Belterra Casino pair in Florence was the third in online handle with $30.9 million, followed by PointsBet-Hollywood Casino duo ($10.3 million). BetRivers through its casino partner French Lick Resort recorded $7.3 million in the online handle.

DraftKings also led the highest gross receipts at $6.1 million, followed by FanDuel at $5.7 million, and BetMGM at $3.1 million.

Indiana retail sports betting was dominated by Hollywood at $8.4 million, followed by Ameristar ($5.2 million). Horseshoe Hammond saw $2.8 million in the handle, while Caesars Southern Indiana and Indiana Grand saw $1.4 million, and $1.1 million, respectively.

Future of Indiana Sports Betting

A shrink in sports betting handle in April is not uncommon among legalized states. Still, it has a considerable gain if we compare it to the last year. May also does not seem to bring any revolutionary increase in Indiana sports betting handle.

However, some significant changes are on the horizon. For instance, the Barstool Sportsbook launch is expected any day during May. SBK Sportsbook is also likely to start taking wagers in the Hoosier State.

The addition of the two operators will certainly increase options for the bettors in the state.

Besides, the NBA Playoffs will also kick off this month, meaning additional options for basketball bettors.

Related News

January 16, 2021

Indiana Becomes Fifth State to Ever Cross $300M Monthly Handle in December

Indiana has become the fifth US state to ever cross $300 million in monthly sports betting handle with its record-breaking handle in December. The Hoosier State also concluded 2020 with […]

read more
July 15, 2021

Basketball Keeps Indiana Sports Betting Afloat in June With $246M Handle

Indiana sports betting kept afloat amid the peak of the summer slump as it reported $246 million in June handle, down 3.2% from May’s $254.4 million. Basketball betting and the […]

read more
January 20, 2020

Indiana Charitable Gaming Laws

Indiana CHARITY GAMING IC 4-32.2-1 Chapter 1. General Provisions IC 4-32.2-1-1 Application of article Sec. 1. (a) This article applies only to a qualified organization.(b) This article applies only to […]

read more
Indiana city skyline
June 16, 2021

Indiana Sports Betting Posts $254M in May Handle, Up 7.6%

Indiana sports betting has emerged from April slumber, witnessing a 7.6% increase to $254.4 million in May handle, compared to $236.4 million a month prior. The modest growth was thanks […]

read more
April 8, 2022

Indiana Online Casinos

Playing at online casinos in Indiana is illegal and there are no regulated sites in the state. However, a few steps were taken towards legalizing the industry in 2020 by […]

read more
Indiana Hoosiers helmets
March 15, 2021

Indiana Sports Betting Streak Ends as February’s Handle Dips 21%

February has ended Indiana sports betting’s five-month streak of record-setting handles, nosediving 21.4% to $273.9 million for the month. The Hoosier State saw the biggest month in January, which brought […]

read more
Barstool retail sportsbook
May 23, 2021

Barstool Sportsbook Launches in Indiana Online Sports Betting Market

Barstool Sportsbook launched its online sports betting app Tuesday in the Indiana sports betting market, ahead of the NBA playoffs and the Indianapolis 500. Penn National Gaming had announced the […]

read more
Indiana city skyline
August 24, 2021

Indiana Regulators Approve Caesars Southern Indiana $250M Sale

The Indiana Gaming Commission has approved the $250 million sale of Caesars Southern Indiana casino to North Carolina-based EBCI Holdings. The decision was taken at the commission’s public business meeting […]

read more
April 8, 2022

Indiana Online Sports Betting

Online sports betting is now live in Indiana, with state-wide mobile betting launching in October 2019, meaning there are plenty of opportunities to bet on your favorite sports online. Today, […]

read more
February 15, 2021

Indiana Welcomes January With Record Sports Betting Handle of $348M

While building on its sports betting records for the fifth straight month, Indiana posted a handle of more than $348 million in January. According to state figures released Friday by […]

read more
Hard Rock Casino Gary
August 17, 2021

Indiana Sees $3bn in Sports Betting Handle in Last 12 Months

Though the summer slump pushed Indiana sports betting handle to below $200 million for the first time in almost a year, the state saw $3 billion since July 2020. The […]

read more
NCAA March Madness 2021
April 13, 2021

Indiana Sports Betting Posts Basketball-boosted $316.7M in March

Indiana sports betting recovered from a sluggish February, with a 15% jump to $316.7 million in handle in March. February brought dips in handle across the entire US market thanks […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.