Indiana Collects $500M in Sports Betting Handle in March
The Indiana Gaming Commission has released its wagering report for March, showing a year-on-year improvement in betting activity.
Indiana state capitol building dome. The Indiana Gaming Commission has released its wagering report for March. (Source: Pixaby)
LISTEN TO THIS ARTICLE:In the month, the state posted a sports betting handle of $500.7m, a rise of 15% compared to the $433m it got in the same month in 2023. The total also surpassed February 2024’s handle of $408.6m.
Significantly, March’s total bets represented the fourth time in four years that the state would exceed the $500m mark.
However, in terms of revenue, Indiana witnessed a year-on-year decrease of 7.94% during the month. The state‘s 13 approved operators reported $39.4m as combined adjusted gross revenue, falling below the $42.8m posted in March 2023. Compared month-to-month, the figure rose by 4% to February’s $37.9m.
The Hoosier State achieved its highest revenue month in January this year at $53.5m, exceeding the previous record of $51.2m set in September 2022.
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DraftKings Tops Indiana’s March Sportsbook Charts
March saw DraftKings, in partnership with Ameristar Casino, claim the highest betting activity in the Indiana market with a handle of $186.5m. The operator generated a revenue of $13.8m from the total bets.
FanDuel, partnered with Blue Chip Casino, had the second-highest handle at $136.5m; however, it got the highest revenue in the state at $16.2m.
BetMGM, affiliated with Belterra Casino, secured third place in March with a $43.4m handle and a revenue of $3.1m.
Caesars Sportsbook posted $27.4m in handle and $1.5m in revenue. PENN Entertainnent-owned brand ESPN Bet rounded off the top 5 with $21.1m in handle and $1.1m in revenue.
FanDuel, which joined the Indiana sports betting market in February, reported a handle of $12.5m and $759,438 in revenue in March, its first full month of operations in the state.
The retail sportsbook sector in Indiana also had a positive outing in March. The state's 14 brick-and-mortar sportsbooks yielded $1.7m in revenue from a $15.3m handle.
March's receipts represent a substantial improvement in Indiana's retail betting sector, especially considering that just a month earlier, physical sportsbooks reported only $369,210 in revenue.
Terre Haute CasinoResort Opens
Last Friday, Indiana’s 13th commercial casino, Terre Haute Casino Resort, opened its doors after nearly three years of planning and construction.
Situated near the Indiana-Illinois state line, approximately 150 miles directly south of Northwest Indiana, the new Churchill Downs casino boasts 1,000 slot machines, 36 live table games, a poker room, and a cutting-edge sportsbook.
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