In April 2024, Indiana’s sports betting market demonstrated notable fluctuations in handle and revenue compared to previous months, offering a dynamic snapshot of its current state.
Handle and Revenue Trends
Indiana’s sports betting handle for April 2024 reached $393.9 million, marking a significant increase of 22.6% from April 2023. Despite this year-on-year growth, there was a 21.4% decrease from March 2024, reflecting the seasonal variations and dynamics within the market.
Wagering Preferences by Sport
Basketball emerged as the leading sport for wagering, generating $121.5 million in bets. Baseball followed closely with $67.7 million, while football accounted for $2.9 million. Other sports collectively attracted $84.8 million in bets, underscoring the diverse interests of Indiana’s bettors. Parlay bets also played a substantial role, amounting to $116.8 million in total wagers.
Revenue and Market Leadership
The taxable adjusted gross revenue in April 2024 was $37.1 million, up by 26.2% from the same period last year. However, this figure represented a 5.8% decrease from March 2024, indicative of the profitability challenges faced by operators month-over-month.
Tax Contributions and Financial Impact
Tax generated from sports betting activities amounted to $3.5 million, reflecting the state’s revenue stream from this sector and its contribution to public funds.
Leading Operators and Market Share
FanDuel and Blue Chip Casino led the market with $15.3 million in revenue from a handle of $129.1 million. DraftKings and Ameristar Casino followed closely with $12.6 million from $145.7 million. Belterra Casino, in partnership with FanDuel, reported $3 million from $31.7 million in wagers. Hollywood Lawrenceburg and ESPN Bet achieved $2.2 million in revenue from $25.2 million, while French Lick Resort and Bet365 recorded $1.7 million from $23.9 million. Harrah’s Hoosier Park and Caesars rounded out the list with $1.2 million from $20.3 million in handle.
Indiana’s sports betting market in April 2024 exhibited robust growth in handle compared to the previous year, albeit with slight declines from the preceding month. The preference for basketball and the significant contributions from leading operators underscored the market’s resilience and competitive dynamics. As the landscape continues to evolve, monitoring these trends remains crucial for stakeholders and policymakers alike.