After a strong March, Indiana’s sports betting handle took a significant hit for April. In contrast to football and basketball, baseball doesn’t typically attract high sports betting volumes.
Breaking Down Indiana’s Sports Betting Volume for April
The Indiana Gaming Commission reported on Thursday that the overall sports betting handle dropped $100 million last month compared to March. Sportsbook operators in the Hoosier State brought in $476.8 million in March while accepting $360 million in April.
This breaks a six-month streak of surpassing the $400 million mark for the state. For the second consecutive month, FanDuel ranked at the top of the list of operators that operate in Indiana with a handle of $112 million. DraftKings secured the second position with a handle of $97.4 million.
Despite having a handle that decreased over $100 million in a month, the state was able to collect $2.7 million in taxes. As of 2022, the state has collected more than $10 million in taxes.
How Did the Top Operators Do in April
FanDuel and DraftKings also led all mobile bookmakers in the gross revenue category for the month. FanDuel led the charge again with $12.6 million in gross revenue, while DraftKings followed with $6.6 million.
Last month, BetMGM had the third-highest sports betting handle in the state with $45.3 million, while Caesars had the fourth-highest handle with $36.1 million. Compared to March, Caesars’ monthly handle decreased by about $18 million.
Caesars has struggled to keep and attract new customers as they struggled to keep up with the demands. However, the company is now the official sports betting partner of the New York Mets and Chicago White Sox. With these partnerships, they hope to regain some market share across numerous jurisdictions.
The only other operators that reported a handle of at least $10 million are Barstool with $11.9 million and BetRivers with $11.3 million.
In terms of gross revenue, BetMGM reported gross revenue of $3.1 million, while Caesars recorded $1.2 million. Both Barstool and BetRivers reported gross revenue totals under the $1 million mark.
With $8.4 million in the monthly retail handle, Hollywood Casino Lawrenceburg had the highest monthly handle of the state’s casinos. The retail operation’s gross revenue for the month was just under $1 million. The retail sportsbook at Rising Sun lost $35,456 in April, continuing its losing streak.
What Were the Most Popular Sports to Bet on for the Month
There was no doubt that basketball was the most popular sport amongst bettors as the Final Four took place in April. The handle also received a boost from the NBA playoffs as the overall basketball handle came in at $129.2 million. In the first four months of the year, bettors across the state have wagered $1.17 billion on basketball.
Bettors in Indiana placed $91.3 million worth of parlays in April, and $56.7 million worth of baseball bets were placed last month. Bets on parlays in the state have totaled $1 billion this year.
The MLB regular season shouldn’t attract attention like the NBA playoffs and March Madness. The sports betting handle also doesn’t include playoff hockey numbers. The sports handle will most likely not see a major boost until the start of the NFL season.
