Indiana Sports Betting Continues Growth With Basketball Love

Written By Pat Evans on May 24, 2022
Indiana sports betting

Indiana sports betting proved yet again in April the love Hoosiers have for basketball.

Indiana sportsbooks took $360 million in bets during April, according to an Indiana Gaming Commission report this month. While it was a 24.4% drop from March’s $476.8 million handle, it was a 52% jump compared to the $236.4 million wagered in April 2021.

The significant year-over-year growth comes even after Illinois ended its in-person registration requirement for mobile sports betting in March. The record handle for Indiana sports betting is $500.1 million set in January 2022.

Indiana sports betting revenue holds steady

Indiana sportsbooks generated more than $28.6 million in sports betting revenue in April, an 8% hold. The April revenue was down 13.3% compared to the $32.3 million in March, a 6.8% hold.

Operator revenue was up 42.8% year-over-year from $20.1 million in April 2021.

The state collected $2.7 million in taxes.

FanDuel paces Indiana sports betting

Online sports betting accounted for $333.9 million of the month’s bets, or 92.7% of overall handle.

FanDuel Sportsbook took $112 million in online bets, or 34% of the online market. The operator held 11.3% for $12.6 million in revenue, also tops in the market. DraftKings took $97.5 million in bets.

BetMGM and Caesars rounded out the top four with $45.4 million and $36.1 million, respectively. Those top four operators controlled 88% of the online market in Indiana.

Online BrandOnline HandleRevenueHoldMarket Share
FanDuel$112.0 million$12.6 million11.3%34%
DraftKings$97.5 million$6.6 million6.8%29%
BetMGM$45.4 million$3.1 million6.8%14%
Caesars$36.1 million$1.2 million3.3%11%
Barstool$11.9 million$871,0467.3%4%
BetRivers$11.3 million$553,0224.9%3%
PointsBet$7.9 million$261,0783.3%2%
Unibet$6.3 million$265,7444.2%2%
WynnBet$3.3 milion$8,4910.3%1%
Betway$797,124(-$6,971)--<1%
theScore Bet$635,654(-$107,424)--<1%
TwinSpires$359,980(-$17,506)--<1%
Bally Bet$342,682(-$17,263)--<1%
SBK$121,529$6,9075.7%<1%

Hoosiers love basketball betting

With the Final Four and the start of the NBA Playoffs in action, basketball was the clear-cut favorite among Indiana bettors. The sport made up 35.9% of overall handle, or $129.2 million.

Parlays made up another $91.3 million of handle.

With March Madness betting over and the NBA postseason wrapping up in June, Indiana sports betting is likely entering its slow season after hardwood action wraps.

New sportsbooks heading to Indiana

The IN sports betting online ecosystem is set to expand significantly this year.

Indiana bettors started the year with 13 sportsbook options. By the end of this year, there could be more than 20 in the state.

SBK Sportsbook launched in Indiana in March. Other sportsbooks eyeing the Hoosier State, according to PlayIndiana:

  • Betprophet
  • Fubo Sportsbook
  • Hard Rock Sportsbook
  • MaximBet
  • PlayUp
  • SI Sportsbook
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Pat Evans

Pat Evans is a Grand Rapids, Michigan-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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