Indiana Sports Betting Posts Yearly Gains While Basketball Betting Dominates

The Indiana Gaming Commission reported over $500 million in wagers for March, which topped February’s $408.6 million by nearly $100 million.

Contributor
May 13, 2024 • 18:51 ET • 4 min read
Tyrese Haliburton Indiana Pacers NBA
Photo By - USA TODAY Sports

Sportsbooks in Indiana collected $393.9 million in wagers and earned $37.1 million in revenue, both year-over-year increases from April 2023.

The Hoosier State reported April’s sports betting performance when Indiana’s sportsbooks drove $3.5 million in tax revenue for state coffers. All tallies for handle, revenue, and tax revenue beat out last April’s performance which saw $321.4 million in handle, $29.4 million in revenue, and $2.8 million in tax revenue. 

The $37.1 million in revenue for Indiana sportsbooks in April represented a 9.4% hold.

How It Stacks Up

April’s numbers are actually the lowest in all three categories for 2024 so far. March was the best month for sports betting in Indiana this year to date. The Indiana Gaming Commission reported over $500 million in wagers for March, which topped February’s $408.6 million by nearly $100 million. January was the second-highest-grossing month with a $480.6 million handle. 

Indiana sportsbooks kept $39.4 million in revenue in March on a 7.8% hold, and just under $38 million in February on a 9.3% hold. Operators enjoyed an 11.1% win percentage in January to bring in January’s $53.5 million in revenue. 

Despite the decline in handle and revenue for April, at least the sportsbooks in Indiana can hang their hat on the second-highest hold for the year. 

Best Indiana Online Sportsbooks

DraftKings topped the market for online sports betting sites in Indiana with a $144.2 million handle in April, which marks 11 consecutive months of touting the highest monthly handle in the state. FanDuel collected $128.8 million in wagers but led the way for online revenue with $15.8 million.

BetMGM brought in $3.6 million in online revenue from its $31.1 million handle to maintain third place across all Indiana online sportsbooks. 

Operator April Handle Revenue
DraftKings $144.2 million $13.1 million
FanDuel $128.8 million $15.8 million
BetMGM $31.1 million $3.6 million
Caesars $18.3 million $1.3 million
bet365 $16.4 million $1.4 million
ESPN BET $15.3 million $1.3 million

Basketball Country

It’s no secret that the Hoosier State is known for its hoops. Purdue was one of the best college basketball teams in the country all season long and made a run to the NCAA Championship during March Madness only to fall to defending champion UConn. 

Iowa’s Caitlin Clark took the sport by storm this year too and was arguably the most recognizable name in all of college basketball. She’s been moving the needle at sportsbooks just weeks into her WNBA career too after being drafted by the Indiana Fever. 

The NBA’s Pacers also had a bounce-back year in their own right and are currently in the second round of the NBA playoffs. 

All of this contributed to basketball being the most bet sport for the fourth month in a row. In total, Indiana bettors dropped $121.5 million in wagers on their favorite sport in April and have already wagered $976.3 million year-to-date. 

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