Indiana Sports Betting Hits Near-Record Highs in March

Indiana’s sports betting scene achieved its third-highest handle in March, with $500.8 million in bets placed across the state.

Indiana Shatters Sports Betting Records Amid Operator Revenue Challenges

It marks a significant 22.5% increase from February’s $408.7 million and a 15.7% jump from March 2023’s $432.7 million.

Revenue and State Contributions

Despite the high betting volume, sportsbooks reported an adjusted gross revenue of $39.4 million, reflecting a relatively low hold of 7.9%.

This resulted in only a modest 3.7% month-over-month revenue growth from $38 million and an 8% decrease from the previous year’s $42.8 million.

The state collected $3.7 million in taxes from these revenues, calculated at a rate of 9.5%.

Leaders in the Market: DraftKings and FanDuel

In the competitive landscape of Indiana’s sportsbooks, DraftKings and FanDuel continue to dominate. DraftKings led the state in total handle for the 11th consecutive month since May 2023, reaching $184.3 million, ahead of FanDuel’s $153.2 million.

However, in terms of revenue, FanDuel maintained its edge over DraftKings, generating $13.9 million in adjusted gross revenue compared to DraftKings’ $13.6 million in March.

March is the eighth month in which FanDuel has outperformed DraftKings in revenue generation.

The gap between the market leaders and other operators remains wide. BetMGM Sportsbook Indiana secured the third position in both handle and revenue, with figures lower than those of DraftKings and FanDuel. BetMGM recorded a monthly handle of $42.3 million and an adjusted gross revenue of $2.6 million.