March Madness drives Indiana’s sportsbooks to near record
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Indiana’s sportsbooks saw a near-record sports betting handle in March, driven largely by March Madness. Analysts with PlayIndiana.com report $500.8 million in wagers were made last month, which is the third-highest handle in the state’s history.
It’s also only the fourth time sports wagers have exceeded $500 million in one month.
The handle is 22.5% higher than February’s total and 15.7% higher than March 2023, when the state recorded $432.7 million in sports wagers.
Basketball had the highest betting volume of any individual sport with $167.9 million, according to PlayIndiana. Parlays accounted for another $148.1 million, while all other sports added another $173 million.
The March handle resulted in $3.7 million in taxes going to the state.
Year-to-date, Indiana’s sportsbooks have generated nearly $1.39 billion, which is higher than each of the last two years. However, analysts predict a decrease in sports betting volume over the next several months.