March Madness betting helped Indiana generate over $476 million worth of sports betting wagers in March.
That was a nice improvement from February’s $409 million handle and a 50% improvement compared to March 2021.
We’re only a few months into the year and Indiana’s handle has already eclipsed the $1 billion mark for 2022. That has the Hoosier State’s market on a record-breaking pace for the rest of the year.
The NCAA Tournament was one of the biggest drivers behind March’s handle. The biggest sports betting event of the year certainly captivated Indiana gamblers. Betting interest in the tournament even tops the Super Bowl since there are so many games taking place over the course of a few weeks.
Basketball did the heavy lifting for Indiana sports betting, and hoops will play a large role in April’s numbers as well.
Indiana March 2022 sports betting handle
March’s handle created over $32 million worth of Indiana sports betting revenue for gambling companies. That number breaks down to about $3 million worth of tax money for Indiana.
| Licensee | Online Brand(s) | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Ameristar East Chicago | DraftKings | theScore Bet | $145,891,716 | $7,470,891 | 5.1% | $709,772 |
| Blue Chip | FanDuel | $143,807,803 | $12,171,756 | 8.5% | $1,156,384 |
| Belterra | BetMGM | Betway | $58,337,012 | $5,305,566 | 9.1% | $504,048 |
| Harrah's Hoosier Park | Caesars | $56,312,930 | $2,318,314 | 4.1% | $220,240 |
| Hollywood Lawrenceburg | PointsBet | Barstool | $37,326,892 | $2,910,844 | 7.8% | $246,931 |
| French Lick | BetRivers | $14,477,663 | $780,935 | 5.4% | $74,220 |
| Horseshoe Hammond | Unibet | $4,766,317 | $387,208 | 8.1% | $42,514 |
| Rising Star | WynnBet | TwinSpires | SBK | $4,196,108 | $132,719 | 3.2% | $12,731 |
| Winners Circle Clarksville | $3,812,690 | $473,982 | 12.4% | $57,478 | |
| Caesars Southern Indiana | $2,649,247 | $325,373 | 12.3% | $19,165 | |
| Winners Circle Indianapolis | $1,852,967 | $165,085 | 8.9% | $15,683 | |
| Bally's Evansville | Bally Bet | $1,821,245 | $138,660 | 7.6% | $17,009 |
| Winners Circle New Haven | $944,308 | $153,813 | 16.3% | $13,868 | |
| Horseshoe Indianapolis | $605,885 | $53,306 | 8.8% | $5,064 | |
| Total | $476,802,783 | $32,788,454 | 6.9% | $3,095,106 |
March Madness helps Indiana sports betting
It’s no secret how much Hoosiers love basketball, especially at the college level.
Purdue, IU and Notre Dame all made March Madness appearances this year. That gave hoops fans plenty of local options to get excited for.
All of the tournament interest led to a titanic amount of money wagered on basketball in March. According to the latest report from the Indiana Gaming Commission, the sport was easily the most popular option for betting last month.
- Football: $2 million
- Basketball: $274 million
- Baseball: $1.5 million
- Parlay: $121.3 million
- Other: $76.5 million
Kansas may have already claimed the March Madness crown for this year, but basketball’s numbers won’t be disappearing in April. The Final Four and the championship game both took place in the early days of this month, so some of the betting interest in the tournament will spill over into April’s numbers.
The NBA season is also starting to heat up.
The league’s play-in tournament begins on April 12, with the playoff rounds beginning immediately afterward. Betting on the NBA Playoffs will help replace some of Indiana’s March Madness numbers in April.
Baseball betting returns
Only a tiny fraction of Indiana’s March sports betting handle was wagered on baseball. That number is about to explode.
Professional action returned on April 7, so baseball fans throughout the state finally have MLB games to bet on again.
Hoosiers wagered over $44 million on the sport during April 2021. That number could be on the rise this time around since Indiana’s market is bigger now than it was last year.
Overall, sports betting markets around the country are entering their slow seasons. The numbers usually take a dip after the NFL season ends, and Indiana is no exception.
Despite that, the return of baseball combined with the NBA postseason will give Hoosiers plenty of betting options in the near future.
SBK launches, new sportsbooks on the way
SBK Sportsbook made its Indiana debut last month. Its first month of action generated over $21,000 worth of wagers.
That was a small piece of the overall $476 million handle for March, but new sports betting apps still help mix things up for Hoosier gamblers.
Even more online sportsbooks plan to launch in the state in the near future. If things move quickly, gamblers could have access to some of the following apps in April:
- PlayUp Sportsbook
- MaximBet
- SI Sportsbook
- fubo Sportsbook
- Hard Rock Sportsbook
Indiana’s sports betting market is still growing, even after over two years of legal wagering.
Adding new companies into the mix is a big part of that growth. It helps keep the market competitive, which is ultimately a win for gamblers in Indiana.
