Betting on sports in Indiana slowed in April but still pulled in more money when compared to the same month a year ago.
PlayIndiana.com reported Indiana’s online and retail sportsbooks brought in $360 million in bets in April, generating $27.6 million in gross revenue, resulting in $2.7 million in state and local taxes. In April 2021, sports betting in Indiana totaled $236.4 million, but the world was still coping with the pandemic and public outings remained limited.
Betting both online and at retail sportsbooks totaled $476.8 million in March. In February the total was $409 million and in January $500 million in sports bets were made in Indiana.
Bettors were drawn to the NBA playoffs, the NCAA basketball tournament and the start of the Major League Baseball season. PlayIndiana.com said April marks the beginning of a seasonal ebb in sports betting that should last until football season.
“Indiana’s love of basketball helps stave off a deeper slowdown than what we see in some other major markets,” said Jake Garza, lead analyst for PlayIndiana.com. “And with the NBA Playoffs and the Final Four, bettors still found plenty to bet on in April. But the market will continue to cool as NBA games become less frequent and baseball and other sports such as golf take center stage.”
PlayIndiana.com reported $129.2 million was wagered on basketball in April, up from $76.1 million in April 2021. Baseball was the second-most popular bet in April with $56.7 million, up from $44.5 million year-over-year.
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIndiana.com, said Indiana is among the most mature markets in the U.S., but its sportsbooks continue to post impressive year-over-year gains, month after month.
“Even with some economic headwinds, this annual growth should continue through the summer,” he said.
