The NFL is over, and with it goes a ton of interest in sports betting. Indiana is not alone in seeing their February action fall significantly from the previous month, but hopefully, March Madness will bring a sizable rebound.
The Indiana Gaming Commission reported that the Hoosier State accepted $408.6 million in bets in February, a 15% month-over-month drop. On top of that, the sportsbooks held less of a profit. After an 11.1% hold in January, February’s hold came in at 9.3%.
That means the operators made $38 million in taxable revenue, turning that into $3.6 million in taxes to the state.
Compared to 2023 handle was nearly 15% higher this year and revenue was 37% higher this year.
bet365 sees green in a competitive field
Like most states DraftKings and FanDuel are the largest operators by far. DraftKings saw $152.2 million in wagers while FanDuel came away with $126 million. BetMGM was third with $30.6 million.
Three Indiana online sportsbooks nearly tied for 4th place in the Hoosier State. Caesars came away with $22 million in bets, beating ESPNBet by less than $500,000. However, it was bet365 that took the win, while they accepted $21 million in wagers they grossed $2.8 million, which is more than Caesars and ESPN combined.
Basketball seeing the love
The NFL only had 2 games in February, the Pro Bowl and the Super Bowl, and together that brought in roughly $14.1 million in bets, January in comparison saw $57.5 million.
Basketball, both college and professional saw a whopping $117.5 million last month, proving that quantity is a quality all its own.
Parlays were the most popular category seeing $191 million in bets, down from January’s $270 million.
