Sports betting dips as football ends
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With the Purdue Boilermakers and Indiana Hoosiers both in the NCAA Division I Men’s basketball tournament this year, gaming analysts are expecting a big month for the state’s legalized sports betting industry. Last month, college hoops and the Super Bowl pushed Indiana sports betting totals to $356 million.
Gaming analysts from PlayIndiana.com described February as a “another solid month,” however the tally fell short of January’s $427 million worth of bets.
It was also down from February 2022 handle of $409 million as more neighboring states started legalized sports gambling.
“February will be the last month until later this fall that Indiana will be able to put up big numbers,” noted Jake Garza, a gaming analyst for PlayIndiana.com.
Indiana received a little under $3 million worth of taxes last month.
While the Super Bowl helped boost Indiana’s February handle, football was not the most popular betting option in the state last month.
PlayIndiana says basketball accounted for $166 million, while football saw $21 million in wagers.
Once the two-week long tournament ends, analysts say Indiana’s sports betting numbers will enter the normal slow season.
In terms of casinos, PlayIndiana says the state’s casinos recorded $205 million worth of revenue in February, a slight increase from January’s $203 million haul.
Hard Rock Casino Northern Indiana in Gary was the single most profitable casino at $34 million.
Caesars Entertainment, which owns or operates four Indiana casinos, was the most profitable by any single company with revenue of $99 million, or 48% of the state’s total revenue haul.