After seeing a dip in the Indiana sports betting handle back in February, the local sports betting market rebounds with an increase in betting handle this March. In fact, the usage of a sports betting platform and software in the state increased by 15.9% to hit $446.7 million. And this number is for online sports betting alone. As previously explained in our sports betting reports, February commonly sees less wagers due to less sports events held in the US during the month.
March, however, is a whole new ball game, quite literally. Of course, March Madness is the most obvious answer, but we also have the NBA playing its last full month of the regular season. This means that there are a lot more basketball wagering options in gambling products for sports bettors. Given how the current season has played out, we should be expecting a more exciting postseason this year.
Indiana Sports Betting Handle
The total monthly sports betting handle for Indiana in the month of March is $476.8 million. This is 16.5% higher than that of February’s $409.1 million handle. It is also 50.5% higher than the $316.7 million handle back in March of 2021. A 50% increase in year-on-year handle for March shows significant growth, and is in line with the trend of sports betting gaining more popularity among the masses.
Online sportsbooks, as mentioned earlier, took in $446.7 million in handle for March. We also see a huge increase in year-on-year handle for March with 55.8% growth from March 2021’s $286.8 million. Meanwhile, the state’s sportsbooks generated $32.2 million in sports betting revenue. This number is a whopping 90.3% higher than February’s $17 million, and it is also 22.5% higher than March 2021’s $2.5 million revenue.
Given how Indiana has a huge fan base when it comes to basketball, the numbers may increase even more in the next month. The numbers for sports betting in April will include the NCAA Basketball Championship games. As for the NBA, the last few games of the regular season will be in the early part of the month. Mid-April will be the In-Play tournament, which is where we are now. The following week will be the start of the NBA playoffs, so expect more basketball action in sportsbooks across the country.