Indiana Reports Healthy Rise in February Sports Betting Handle
LISTEN TO THIS ARTICLE:In February 2024, bettors in Indiana wagered a total amount of $408.7m, an increase of 14.7% compared to the $356.2m handle gotten in the same month in 2023. The figure, however, fell by 14.9% behind the $480.3m wagered in January.
The most popular sport amongst bettors in February was basketball, which drew $117.6m of total bets. Surprisingly, American football, which had the most popular sporting event in the month, Super Bowl LVIII, was second, accounting for only $14.1m of all wagers.
Baseball contributed $2.1m. Parlay betting reached $191.0m while betting on other sports totaled $83.6m. In terms of revenue, approved operators in the state recorded a monthly total of $38.0m. This figure increased by 37.2% in comparison to February 2023’s $27.7m. However, it fell 29.0% behind the $53.5m recorded in January.
FanDuel Overtakes DraftKings
Blue Chip Casino and FanDuel secured the leading position in the Indiana market, with a revenue of $13.8m from a $126.5m handle.
DraftKings and Ameristar Casino, who dominated the Indiana market in January, received the highest amount of wagers at $153.5m. However, their partnership yielded $13.6m in February, putting them in a close second position.
Another notable performance came from the French Lick Resort, which saw significant gains from its new partnership with bet365 during its first full month. Revenue soared to $3.5m from a handle of $30.7m. Belterra Casino, also in partnership with FanDuel, trailed closely with revenue of $ 3.2m from a total of $31.3m in wagers.
Fanatics Joins Indiana Market
At the end of February, Indiana welcomed the addition of Fanatics Betting & Gaming (FBG) into its gambling market. Fanatics takes over the PointsBet brand in the Hoosier State as it has been doing across all states where PointsBet was formerly operational. The move follows Fanatics' acquisition of PointsBet US operations in August 2023.
The development means that existing PointsBet customers in Indiana and the other 14 states where Fanatics have launched will have their username, password, account balance, rewards points, and responsible gaming settings seamlessly transferred to the Fanatics Sportsbook.
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