Indiana Sports Betting Operators Thrive with $500.8 Million Handle in March, Marking 15.6% Surge from Last Year

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March proved to be a bustling month for licensed sports betting operators in Indiana, as per newly released data by the Indiana Gaming Commission (IGC). The total betting handle reported by operators in March reached an impressive $500.8 million, marking a significant 15.6% increase compared to the same period in 2023.

Indiana Sports Betting

Fluctuations in Taxable Adjusted Gross Revenue (AGR)

Despite the surge in betting handle, taxable adjusted gross revenue (AGR) didn’t mirror the same growth. March 2024 witnessed a decrease in taxable AGR to $39.4 million, down from $42.8 million in March 2023, indicating a decline of over $3 million.

Impact on State Taxes

The decline in taxable AGR naturally impacted the taxes collected by Indiana for March. The sports wagering tax collected by the state last month amounted to $3.7 million, down from $4,070,044 for the same period in 2023.

Indiana Sports Betting: Month-over-Month Comparison

A comparison between February and March reveals promising trends. February’s betting handle in Indiana stood at $408.7 million, significantly lower than the $500.8 million reported in March. Similarly, taxable AGR in February was nearly $38 million, indicating an increase of $1.4 million in March.

DraftKings Dominance

Basketball emerged as the most popular sport in March, with DraftKings leading the pack. DraftKings, in partnership with Ameristar Casino, reported a staggering $184.3 million in betting handle, generating $14.5 million in taxable AGR.

FanDuel’s Strong Performance

Following closely was FanDuel, partnering with Blue Chip Casino, reporting a total handle of $153.2 million and $14.5 million in taxable AGR.

BetMGM’s Position in the Market

BetMGM, collaborating with Belterra Casino, secured the third position with a betting handle of $42.3 million, resulting in $2.6 million in gross receipts.

FAQs About Triumph for Indiana’s Sports Betting Operators

1. How did March perform for sports betting operators in Indiana?

March was a robust month for sports betting operators in Indiana, with a total betting handle of $500.8 million, marking a notable increase of 15.6% compared to the same period in 2023.

2. What caused the fluctuations in taxable AGR?

Despite the increase in betting handle, taxable adjusted gross revenue (AGR) experienced fluctuations due to various factors such as changes in betting patterns, game outcomes, and promotional activities by operators.

3. How did the decrease in taxable AGR impact state taxes?

The decrease in taxable AGR naturally affected the taxes collected by Indiana for March, with the sports wagering tax collected by the state amounting to $3.7 million, down from $4,070,044 for the same period in 2023.

4. What were the month-over-month comparisons between February and March?

February’s betting handle in Indiana was $408.7 million, significantly lower than the $500.8 million reported in March. Similarly, taxable AGR in February was nearly $38 million, indicating an increase of $1.4 million in March.

5. Which sports betting operator emerged as the leader in March?

DraftKings emerged as the frontrunner in March, reporting a staggering $184.3 million in betting handle, with $14.5 million in taxable AGR.

6. What were the performances of FanDuel and BetMGM in March?

FanDuel, in partnership with Blue Chip Casino, reported a total handle of $153.2 million and $14.5 million in taxable AGR. BetMGM, collaborating with Belterra Casino, secured the third position with a betting handle of $42.3 million, resulting in $2.6 million in gross receipts.