Indiana sportsbook drops to six-month low
INDIANAPOLIS (Inside INdiana Business) — Gaming analysts say Indiana’s sports betting industry experienced another month-over-month decline in April with wagers dropping to their lowest level since October. Based on data from the Indiana Gaming Commission, Indiana sportsbooks saw $236 million in wagers last month, a drop of 25% from March.
The state received $1.9 million in tax revenue.
Analysts from PlayIndiana.com say the decline was expected.
“Even a high volume of regular season baseball and NBA basketball games can’t make up for a calendar devoid of NFL and college football games, or a major betting event like the NCAA Tournament,” said Jessica Welman, lead analyst at PlayIndiana.
Wellman says Indiana has not experienced a full year of normal sports betting because of the pandemic.
“But there are normal seasonal ebbs and flows in sports betting, and this is the start of what is historically the slowest period of every year.”
The last time the sportsbook was this low was in October when the state registered a $231 million handle.
PlayIndiana says nearly 89% of sports bets are made online. The remaining bets are placed in-person.