Only three months into the new year, Indiana has already generated over $1 billion in sports betting handle.
The achievement solidifies the Hoosier State as a marque gaming market in the Midwest. But with slow months approaching, can the state keep up its success?
March helps push Indiana sports betting revenue over $1 billion
In March, sports bettors wagered over $476 million, a 50% improvement from the same time last year.
One of the main drivers was the NCAA Tournament, which contributed more than $32 million worth of Indiana sports betting revenue. That number translates to $3 million in state taxes for the state.
For the year:
January handle – $500 million
February handle – $409 million
March handle – $476 million
Traditionally, the early months have key professional sporting events helping drive betting traffic. January and February have the NFL playoffs and the Super Bowl, followed by March Madness.
Record-breaking year in Indiana?
It will be interesting to see if the appetite for Hoosier residents is better than last year. In April 2021, sportsbooks only generated $44 million in the handle.
Major League Baseball (MLB) began on April 7, and the NBA and NHL playoffs will start in the coming days.
Sports betting markets around the US are entering slow months anchored primarily by baseball. However, the number of available sports betting options is increasing.
SBK Sportsbook made its debut generating over $21,000 in wagers. The state expects at least five more online sports betting apps to launch in 2022.
Hard Rock Sportsbook
What about Indiana online casinos?
Unfortunately, Indiana online casinos and online lottery games are not in the plans for 2022.
The Hoosier Lottery attempted to add online games this year, but lawmakers blocked those efforts with HB 1260. Language in the bill prohibits the lottery from adding online games without the consent of the legislature.
Lawmakers also tried to pass a bill legalizing online casinos, but it ultimately fell short. The bill would have introduced games like blackjack and online poker into the Indiana gaming market. But experts anticipate the state legislature to take another swing in 2023.