The Indiana Gaming Commission has released its latest monthly revenue report revealing that the state’s licensed sportsbooks reported a sharp decline in sports betting activity accepting $409.1 million in wagers throughout the month of February.
The latest figures mark an 18.17% drop from January’s all-time record sports betting handle of just over $500 million. February was also the first time since September that Indiana sportsbooks accepted less than $460 million in wagers in a single month.
Ameristar Casino was once again the market leader accepting more than $127.4 million in wagers during February. This was a drop of 24.5% from the previous month’s all-time record. This represented 31.14% of all sports wagers made throughout the month. Of that figure, $123.4 million came through the casino’s mobile betting partnerships with DraftKings and theScore. Retail bets at the casino amounted to $3.9 million.
The nearest competitor, Blue Chip Casino, accepted over $108.1 million in wagers during the month, just under $20 million less than in January.
Hollywood Lawrenceburg was the retail market leader as its sportsbook accepted $10.5 million in wagers. This was over $3 million less than reported in the previous month.
Despite dominating the market for the last year, this was the first time in months that Ameristar Casino posted the highest adjusted gross revenue (AGR) in the state. The casino posted over $6.5 million in AGR for the month.
Combined AGR for the month came to $16.9 million, a drop of 52% on the previous month. This resulted in taxes of $1.6 million paid to the state.
Basketball remains the most popular sport at local sportsbooks with over $200 million placed on the sport while only $30 million in wagers were placed on the NFL despite the Super Bowl taking place during the month.
Image credit: Baishampayan Ghose / CC BY-SA 2.0
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.