Indiana Sports Betting Suffers March Madness Hangover

Posted on May 12, 2021
Indiana sports betting

Indiana sports betting took a big dip in April with a March Madness hangover.

Bettors in the state wagered $236.4 million in April, according to an Indiana Gaming Commission report issued Wednesday. IN sports betting was down 25% from March, when the state held the entirety of the NCAA Men’s Basketball Tournament.

Operators generated $20.1 million in adjusted gross revenue, an 8.5% hold. The state collected $1.9 million in taxes. Those figures were down 23.8% and 24% from March, respectively.

Indiana sports betting slides again

March was a quick 15% uptick following a dip from an all-time high in January. Even with the rollercoaster first few months, Indiana cleared $1 billion in total handle four months into the year.

January’s total handle of $348.2 million generated $29.3 million in sports betting revenue.

It was the fifth consecutive month of rising record-breaking wagers.

Basketball still leads the way

The Final Four of March Madness likely still boosted April’s figures.

Fans in Indiana bet $76.1 million on basketball in the month.

In March, bettors in the state wagered at $160.7 million on basketball. That was more than half of the monthly handle, with more likely tacked on from the $77.5 million in parlays.

Indiana April sports handle

  • Football: $3.4 million
  • Baseball: $44.5 million
  • Parlay: $60.4 million
  • Other: $50.5 million

DraftKings remains on top

Ameristar East Chicago, with online partners DraftKings and theScore, took $87.6 million in bets. The online handle was $82.4 million of that total.

In the past, the operators topped the market with 40% of the total handle. April’s combined total is good for 37%.

The total generated $7.1 million in revenue.

FanDuel comes in second

Blue Chip and partner FanDuel handled $67.6 million in bets, with $67.1 million bet online.

That total generated $5.7 million in operator revenue.

Online sports betting steady

More than 88% of bets were placed online. That is in line with the past several months.

The overall totals for operators:

  • DraftKings/theScore: $82.4 million
  • FanDuel: $67.1 million
  • BetMGM: $30.9 million
  • PointsBet: $10.3 million
  • William Hill: $8.5 million
  • BetRivers: $7.3 million
  • Caesars/Unibet: $2.9 million
  • TwinSpires/WynnBet: $570,580

Operators still adjusting to Indiana

WynnBET launched the state on April 1.

TwinSpires relaunched in Indiana on April 27, rebranding from BetAmerica.

Barstool Sportsbook was expected to launch in Indiana by late April, but apparently was delayed.

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Pat Evans

Pat Evans is a Las Vegas-based reporter covering sports business. Evans previously worked at Front Office Sports and the Grand Rapids Business Journal. He has authored two books: Grand Rapids Beer and Nevada Beer.

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