Indiana’s April 2024 Sports Betting Handle Slips Under $400 Million for First Time Since September

Legal sports betting in Indiana saw a seasonal decline in activity during the spring and summer, as shown by the April handle released on Friday. However, our top sports betting sites still had successful months.

According to the April report from the Indiana Gaming Commission, there is some positive news for the sports wagering industry in the Hoosier State. Year-over-year figures displayed significant double-digit percentage growth, with a substantial increase in revenues.

The competition for the top Indiana sports betting app ended in a tie, with each major betting company coming out on top in one of the two key performance metrics for sportsbook operators.

Although the betting slowdown is anticipated to persist in the upcoming months, Indiana sports betting is poised for growth. The Indiana Pacers are making strides towards an NBA Championship, while Caitlin Clark is elevating women’s basketball with her preseason games for the Indiana Fever in the WNBA.

$393.9 million handle

In April, Indiana residents wagered $393.9 million on both online betting sites and physical casinos within the state. Many residents also made use of promotional offers from Indiana sportsbooks during this time.

This marks a positive 21.9% rise compared to the $321.4 million spent in April 2023, but it is a decrease of almost $107 million from the $500.75 million spent in March during the March Madness tournament frenzy in the state.

In April, Indiana sports betting apps accounted for $383.5 million of the total handle, with retail betting contributing the remainder. The lifetime mobile sports betting handle in Indiana surpassed $15 billion when factoring in April’s figures.

April’s totals increased the year-to-date handle figure to $1.78 billion, representing a 16% increase compared to the first four months of 2023.

$37.1 million in revenues

In April, Indiana’s top sportsbooks saw a total of $37.1 million in gross revenue, with a 9.4% hold rate. This marks a 26% increase from the $29.5 million in profits generated in April 2023.

Although it is a slight decrease of $800K from the revenue total of nearly $39.9 million in March, the handle was over $100K higher during that month and the hold rate was 1.8 percentage points lower.

In April, providers in the state paid $3.5 million in taxes, bringing the total for the year to almost $16 million. This puts Indiana $2.8 million ahead of last year in terms of overall sportsbook tax contributions.

DraftKings and FanDuel each notch a win

In the April battle of Indiana sports betting apps, DraftKings emerged victorious in terms of handle while FanDuel led in monthly revenues, following a familiar pattern.

DraftKings Indiana has continued its winning streak for the eleventh month in a row, with $144.2 million in accepted wagers. Despite a 9.1% hold, the provider’s revenues were $13.1 million, slightly lower than expected.

In the April handle battle among 13 mobile state providers, FanDuel Indiana came in second with $128.8 million in accepted wagers. Despite this, it led in revenues with $15.8 million thanks to a 12.3% hold. FanDuel Indiana’s April totals helped it exceed $500 million in lifetime revenues in the Indiana market.

BetMGM Indiana came in third place in the Hoosier State market in April, trailing behind the top two competitors. The sportsbook reported $31.1 million in wagers and $3.6 million in revenue for the month.

Caesars Indiana ranked fourth in monthly handle, accepting $18.3 million in bets. Meanwhile, bet365 Indiana also made a strong showing, coming in fourth for revenues in April with $1.4 million in profits.