In the latest gambling news, the sports betting handle in Indiana has increased by over 21% for the month of March. And even though Indiana colleges were not able to make it too far in March Madness, this is the Hoosier state we are talking about, so basketball will reign supreme in that month. And it shows in the handle of sportsbooks in the state. Over 50 % of the handle comes from basketball betting. And this does not count parlay bets on basketball, so the percentage is even higher.
In fact, those in the industry believe that if Purdue or Indiana stayed on in the Sweet Sixteen, then the numbers would be even higher. Baseball was also quite popular, with over $7 million in wagers going to the MLB and the World Baseball Classic.
Sports Betting Handle in Indiana: The Numbers Say It All
If you are using the best pay per head bookie software, your numbers would have been good, especially if your players love wagering on basketball. Aside from NCAA basketball, the NBA has a full slate in March, as the regular season starts wrapping up to the playoffs in April. For sportsbooks in Indiana, they took in $433 million in wagers, which give us a 21.6% increase in betting from February’s $356.1 million.
The hold percentage is at 9.8%, also higher than the previous month’s 7.7%. The tax revenue is at $4 million, also higher than the previous month, by 44%. If we take a look at the year-on-year numbers, the handle is still lower by 9.1%. But when analyzing your sportsbook numbers, the handle is only one of the important indicators you will need to take note of. For Indiana sportsbooks, the revenue is actually higher by 33% year-on-year, so there is growth in the bottom line.
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