Revenue drops by nearly 8%

Indiana sees over $500 million in sports bets in March, just short of a new record

Reading time 1:18 min

Indiana saw $500.8 million in sports bets during March, up 15.7% from last year’s handle of $433.0 million. The figure was also up 22.5% monthly from February 2024, when the sports betting handle was $408.7 million. 

Moreover, the total was short of 2.5% from the monthly record of November 2023, when the state generated $513.7 million. 

The most popular sport proved to be basketball, which generated a total of $167.9 million in bets for March. The state is home to the National Basketball Association team the Indiana Pacers. Earlier in February, basketball emerged as the most popular sport for betting as well, attracting $117.6 million in wagers.

Meanwhile, $9.9 million was wagered on baseball and only $1.7 million was spent on American football. $173 million was wagered on other sports and $148.1 million came in the form of parlay bets.

While the sports betting handle was higher year-on-year in March, revenue dropped by 7.9% to $39.4 million. Meanwhile, when compared to February this year, it was up by just 3.7%. Indiana does not publish a sports-by-sport breakdown for monthly revenue.

In terms of individual operators, DraftKings and its partner Ameristar Casino reclaimed the lead in Indiana. In March, the partnership made $14.5 million in revenue from $186.5 million in wagers.

Meanwhile, FanDuel and Blue Chip Casino, which topped in February, moved to the second position, but only by a small margin. The revenue was just $9,481 lower than DraftKings and Ameristar Casino, while their handle hit $153.7 million.

Belterra Casino, another FanDuel partner, generated a revenue of $3.2 million off $43.5 million in total bets. It was followed by Hollywood Lawrenceburg and ESPN Bet with $2.2 million from $35.1 million in bets. At the same time, French Lick Resort and Bet365 also generated $2.2 million, although they had a handle of $31.3 million. 

Lastly, Harrah’s Hoosier Park and Caesars was the only other partnership to make more than $1.0 million in revenue. The revenue for March totaled $1.9 million and handle was $30.1 million.

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