Friday, December 8, 2023

Indiana Handle Continues to Drop for Legal Sports Betting in February

Must read

Hoosier State suffered a 16.7% decline from the $427.1 million handle in January.

Last Updated:
Mar 11, 2023 9:16 AM ET

Read Time: 4 min

The Indiana Gaming Commission reported that their sportsbooks took in $356.1 million in legal sports betting wagers last month — a 16.7% decline from the $427.1 million in January.

And the state handle was not the only number that fell.

Hoosiers were luckier this month as the hold percentage dropped from 8.5% to 7.7%. Tax revenue also took a hit, falling 18.3% to $2.7 million.

Sports betting in Indiana saw its handle fall 12.7% year-over-year, but state coffers did see a 42% rise in revenue compared to February 2022.

DraftKings regains the high ground

Indiana currently has 13 online sports betting sites taking bets. DraftKings led the way with $119.5 million (7.2 hold %), and FanDuel was second with $112 million (11.8 hold %).

In a change of pace, Caesars came in third with $33.4 million (2.2 hold %). Meanwhile, BetMGM dropped to fourth place with $31.4 million (9.0 hold %).

Sport breakdown

Between the NFL’s Pro Bowl and Super Bowl, Indiana accepted $20.5 million in wagers — marking a 32% year-over-year drop.

Not surprisingly, basketball was the most popular sport and made up 53% of the statewide handle. Parlay bets came in second, followed by “other”.

Pages related to this topic

Latest article