Indiana Sports Betting Numbers Start To See Ohio Effect

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Indiana sports betting

Indiana sports betting handle dropped nearly 13% year-over-year in February.

Sportsbooks handled $356 million last month compared to more than $409 million in February 2022.

The year-over-year handle in the state has declined for five consecutive months.

MonthTimeframeHandle decrease
October2021 vs. 2022-3.23%
November2021 vs. 2022-2.45%
December2021 vs. 2022-6.82%
January2022 vs. 2023-14.59%
February2022 vs. 2023-12.94%

Seasons change, handles change

Sports betting is, of course, very much calendar-dependent. Most states experience a drop in handle between April and August before wagering picks up again in fall with the start of NCAA and NFL football season.

Declining year-over-year handle, presumably during the busiest time of the sports wagering calendar, suggests a likely peak at the top of the IN sports betting market, according to LSR projections. The record-high handle in Indiana was $500 million in January 2022.

Sportsbooks held 7.7% last month and 8.5% to begin the year. Indiana has received $6.24 million in sports betting revenue this year.

Indiana sports betting hit by Ohio

Ohio’s new sports wagering market has not helped Indiana. Revenue figures there have taken a noticeable hit since the beginning of the year.

Ohio made a massive splash in online sports betting when it launched in January. The Buckeye State recorded $1.11 billion in OH sports betting handle in its first month.

LSR projects February as another month around the $1 billion mark in total handle. Official state data will be released later this month.

Indiana declines in line with expectation

In January, Indiana was more than 14% off its high-water mark of $500 million in handle from the year prior.

LSR projected Indiana’s revenue declines to start the year would have been closer to -6% without competition from its neighbor. At least so far, Ohio projects to be taking 5-10% of Indiana’s business.