The Super Bowl helped Indiana rack up over $409 million worth of February sports betting wagers.
That handle was a step back from January’s record-breaking $500 million haul. February didn’t have five full weekends of NFL games, so the small drop wasn’t unexpected.
Football may be out of the picture for now, but basketball is more than capable of doing the heavy lifting for Indiana sports betting. That’s especially true with March Madness right around the corner.
Indiana February 2022 sports betting handle
Indiana’s February handle generated about $17 million worth of sports betting revenue for gambling companies. That added up to over $1.6 million worth of taxes for the state of Indiana.
Here’s a quick look at the breakdown for the market’s February:
|Ameristar East Chicago||DraftKings | theScore Bet||$127,424,524||$7,351,769||5.8%||$618,852|
|Belterra||BetMGM | Betway||$53,803,542||$3,886,475||7.2%||$369,215|
|Harrah's Hoosier Park||Caesars||$46,002,793||$2,050,891||4.5%||$194,835|
|Hollywood Lawrenceburg||PointsBet | Barstool||$38,689,451||$2,344,680||6.1%||$185,333|
|Rising Star||WynnBet | TwinSpires||$4,462,935||$164,286||3.7%||$14,599|
|Winners Circle Clarksville||$3,081,049||$221,594||7.2%||$42,430|
|Caesars Southern Indiana||$1,930,658||$243,159||12.6%||$32,003|
|Bally's Evansville||Bally Bet||$1,745,886||$64,997||3.7%||$12,166|
|Winners Circle Indianapolis||$1,175,878||$37,859||3.2%||$3,597|
|Winners Circle New Haven||$755,548||$20,822||2.8%||$2,754|
Super Bowl helps out February numbers
The Super Bowl is one of the biggest sports events of the year. Betting on the big game certainly helped Indiana’s sports betting market during February.
Hoosiers wagered $30 million on football last month, which made it the second-most popular sport for wagering in the state. Here’s a quick look at the February breakdown for Indiana’s market:
- Football: $30.1 million
- Basketball: $201.9 million
- Baseball: $97,000
- Parlay: $101.3 million
- Other: $74.2 million
Football certainly played a role in February’s $409 million handle, but it’s hard to know exactly how much of that came from Super Bowl betting.
Indiana’s revenue reports only release information for overall sports, rather than individual games or events.
Despite that, we can still get a pretty good feel for how much money Hoosiers bet on the Super Bowl.
Since the Super Bowl was the only NFL game taking place throughout the month, it’s safe to say that the vast majority of football’s $30 million handle came from betting on the big game.
Indiana teams in March Madness
We’re officially in the middle of basketball’s time to shine.
Hoosiers love betting on hoops, and the state’s obsession for the game extends past the normal level of interest around the country.
Basketball has been the most popular sport for gambling in Indiana since December. That’s about to shoot to another level thanks to March Madness betting.
The NCAA Tournament is the biggest sports betting event of the year, even larger than the Super Bowl. Having so many games taking place over the course of a few weeks really adds to the numbers.
All of March Madness might not be taking place in Indiana this year, but the 2022 tournament will still hold a special significance for Hoosiers.
That’s because most of the state’s favorite teams are in the mix this season. IU, Purdue and Notre Dame are all likely candidates to be a part of the big dance.
Room left for sports betting to grow
Indiana gamblers wagered over $161 million on basketball during March 2021. That’s a big number, but Indiana’s sports betting market has grown since last year.
At the time, Indiana’s record handle for a single month was January 2021’s $347 million.
February 2022’s $409 handle wasn’t even an all-time-high for Indiana, and yet it’s still eclipsing the previous record from the same stretch last year.
To put it simply: there are more Hoosiers betting on sports right now than there were at this time in 2021. The growth in the market overall is enough to bridge the gap between a normal March Madness and last year’s all-in-Indiana special.
Because of that, sportsbooks in Indiana can expect to beat last year’s March Madness numbers by a wide margin. Basketball wagers should be well north of the $200 million mark on next month’s report.
That might not be enough to spur a new record for the state, but at the very least, the March Madness boom should help make up for the loss of football’s numbers.