Indiana sports betting revenue climbed 37.2% in February compared to the last year’s figure.
The year-on-year increase saw a jump of more than $10million, from $27.7m in 2023 to $38m this year.
However, there was a month-to-month decline of 29% compared to January’s total. In the opening month of 2024, the revenue was $53.5m.
February’s Indiana sports betting revenue came from a handle of $408.7m, an increase of 14.7% on the previous year.
Again, that still represented a drop-off from January’s total. From January to February, handle fell by 15% from $480.6 million.
As far as tax collection was concerned, Indiana’s February figure was $3.6m, up 30% year-on-year but down by 29% month-on-month.
The sport with the biggest proportion of handle was basketball, accounting for $117.6m, with parlay bets making up $191m of total handle.
Super Bowl LVIII A Small Portion Of Indiana Sports Betting
Despite its place as the biggest sporting event of the month, Super Bowl LVIII’s hype didn’t translate into betting.
Of all wagers placed in the state last month, just $14.1m were specifically for football.
Basketball reigned supreme as the most bet-on sport in Indiana, with baseball at just $2.1m. All other sporting bets totalled $83.6m.
FanDuel Top Indiana Sportsbook In February
Top spot in terms of revenue from Indiana sports betting went to Blue Chip Casino and FanDuel. Their partnership generated a total of $13.8m in revenue from $126.5m handle.
Just behind were DraftKings and Ameristar Casino. The January leaders in the state made $13.6m in February revenue, but their handle of $153.5m was much higher.
A solid performance also came from French Lick Resort, which saw its first full month partnering with Bet365 generate $3.5m from a $30.7m handle.
Another FanDuel partner, Belterra Casino, followed up with revenue of $3.2m from $31.3m in wagers.
Fanatics An Indiana Sports Betting Newcomer
It’s not just Bet365 entering the market in Indiana. Fanatics Betting and Gaaming (FBG) also launched its online sportsbook at the end of February.
Fanatics replaced PointsBet, with existing PointsBet customers automatically tansferring their username, password, account balance, reward points and responsible gaming setting across toe the new brand.
PointsBet has been gradually phased out across the US after FBG acquired PointsBet US in August 2023. Now up to 15 states, FBG has also gone live in New York recently.
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