Indiana reports sports betting handle and revenue increase in March

The state of Indiana has posted positive handle and revenue figures thanks to a boost from March Madness.

According to the latest figures from the Indiana Gaming Commission, sports betting handle in the state of Indiana rose to $316.7m in March.

March’s handle was up more than $240m from March 2020 when the state was forced to close its casinos, sportsbooks, and sporting events were suspended, due to the coronavirus pandemic. 

The latest figures also marked a significant increase on the $273.6m wagered on sports in February 2021.

Sports betting revenue also rose in March after operators generated $26.3m in revenue up from the $9.3m generated in February. The latest revenue figures were also up by $20.8m on the same time last year.

Although handle and revenue bounced back in March, both handle and revenue failed to surpass the records set in January.

Licensed sportsbook operator paid $2.5m in tax revenue to the state in March.

How did each sportsbook perform?

The state report showed that the Ameristar East Chicago licensee, which hosts the DraftKings-branded sportsbook, dominated the market. According to the report, the licensee processed $120.4m in bets and held onto $9.2m.

Blue Chip Casino, which is partnered with FanDuel, took second place in March and managed to generate $6.9m in revenue from $92.4m in sports bets.

The Belterra Casino, which hosts the BetMGM sportsbook came in third place with $40.2m in bets and $3.7m in total revenue.

When it comes to individual brands, DraftKings processed $111.2m in bets and generated $8.5m in revenue. FanDuel generated $6.8m in revenue from $91.3m in sports wagers.

BetMGM took the third spot for individual betting brands after processing $39.4m in bets and holding onto $3.6m.

PointsBet came in fourth place with $13.1m in bets and $1.7m in revenue while BetRivers took the fifth spot after generating $829,034 from $9.2m in bets.

Basketball betting boosts figures

According to the state report, basketball was the most popular sport to bet on with bettors in the state wagering $160.7m on basketball events.

Bettors also wagered $77.5m on parlay bets and $62.6m on “other” sports. The other sports category on the report refers to all sports apart from football, basketball, and baseball.

Indiana sportsbooks took $13.5m in football bets and $1.3m in baseball bets.

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