The Indiana sports betting scene recorded a total handle of $321.4 million in April, according to data released by the Indiana Gaming Commission. This figure represents a 10% decline compared to the same period in 2022 and is down by 25.8% from the previous month of March, marking the lowest handle since August 2022. Despite this dip, the adjusted gross revenue for operators saw a modest increase, underlining the resilience of the sports betting market.
Handle Analysis:
Indiana’s sports betting handle in April amounted to $321.4 million, a decrease of 10% compared to the previous year.
This figure marks a notable drop of 25.8% when compared to March 2023, highlighting a seasonal fluctuation in betting activity.
Operator Performance:
Indiana’s sports betting market continues to see healthy activity, with operators registering an adjusted gross revenue of close to $29.4 million.
While the handle experienced a decline, the adjusted gross revenue was 2.4% higher than in April 2022, demonstrating the resilience of the market.
Sports Betting Preferences:
Basketball emerged as the most popular sport for betting in April, with a total of $91.6 million in wagers.
Baseball followed closely behind with $61.2 million in wagers, while football contributed $3.4 million.
Parlay bets also gained popularity, attracting wagers of $91.6 million, and other sports accounted for $74 million.
Leading Online Betting Sites:
In the online sports betting landscape, FanDuel secured the top spot in terms of popularity among users.
FanDuel attracted a significant handle of $106 million, closely followed by DraftKings, with a handle of $101.3 million.
The state collected nearly $2.8 million in tax revenue, indicating a positive financial impact.
While the Indiana sports betting handle for April experienced a decrease compared to previous periods, the market continues to showcase its appeal and stability. Basketball remains a frontrunner in sports betting preferences, with other major sports making significant contributions. The performance of leading online platforms like FanDuel and DraftKings underlines the vibrant and competitive nature of the Indiana sports betting landscape. As the sports calendar evolves, Indiana’s sports betting market is expected to remain dynamic and resilient.