Indiana sports betting had another solid month during February. Hoosiers bet over $356 million on sports last month.
That was a modest decline from January’s $427 million worth of bets.
For the sake of comparison, last month’s haul was also a decrease from the same stretch in 2022. Last year’s February handle was $409 million.
Super bowl betting helped boost sports betting in Indiana last month, but the football calendar is officially over. In other words, February will be the last month until later this fall that Indiana will be able to put up big numbers.
February 2023 Indiana sports betting handle
February’s numbers taking a dip compared to February 2022 is no surprise. Indiana’s overall market is expected to slightly contract during 2023.
The amount of money bet on sports during February, also known an handle, translated to about $28 million worth of revenue for the state’s sportsbooks. Indiana’s piece of the pie came out to a little under $3 million worth of taxes last month.
The state’s $356 million February handle came mostly from online sports betting apps.
The list of the Hoosier State’s most popular sportsbooks changed slightly during that time. DraftKings and FanDuel flipped positions, while BetRivers replaced Barstool at the five spot.
Here’s a quick look at the rankings, according to the latest report from the Indiana Gaming Commission:
- DraftKings: $119 million
- FanDuel: $113 million
- BetMGM: $31 million
- Caesars: $33 million
- BetRivers: $12 million
Thank you, Super Bowl betting
The Super Bowl helped boost Indiana’s February handle, but football wasn’t even the most popular betting option in the state last month.
Although football is the most popular sport for betting in the US, the Super Bowl is only one single game. Because of that, February’s football numbers don’t stack up to the midst of the NFL regular season, which features a full slate of multiple games to bet on.
It’s basketball’s time to shine, which was evident thanks to what Hoosiers were betting on the most last month:
- Football: $21 million
- Basketball: $166 million
- Baseball: $441,000
- Parlay: $100 million
- Other: $69 million
Baseball is also returning to the betting lineup in the near future, but it doesn’t hold a candle to the numbers that football produces.
Without the support of football, Indiana’s sports betting handles will start to drop off in future months. That will change again in the fall when the NFL and college football return.
In the meantime, March Madness betting can hold things over.
March Madness will help Indiana sports betting
It’s an exciting year for college basketball fans in Indiana.
Both IU and Purdue will be in the tournament mix this year. That will give fans plenty of local options regardless of whether you want to bet on the Hoosiers or the Boilermakers.
The 2023 March Madness tournament gets underway on March 14, so Indiana’s March handle will have over two weeks of basketball runway to help its numbers.
The Big Dance is the last major sports betting event on the horizon. Once the tournament ends, Indiana’s sports betting numbers will enter their normal slow season.
That will change once football returns, but at least for now, basketball is here to do the heavy lifting for Indiana’s handle.