Indiana Sports Betting Handle Surpasses $400m in February

Indiana witnessed a remarkable increase in sports betting handle for February, reaching a total of $408.7 million. This marked a significant rise of 14.7% compared to the same period last year. However, it also showed a decline of 14.9% from January’s record-breaking $480.3 million.

Although the NFL’s Super Bowl LVIII was a major event, the betting activity didn’t fully reflect its hype. Only $14.1 million of the wagers were specifically for American football. Surprisingly, basketball emerged as the most popular sport for betting, attracting $117.6 million in bets, followed by baseball with a mere $2.1 million. Parlay wagering stood at $191.0 million, with other sports betting totaling $83.6 million.

Despite the slight decline in handle, revenue surged to $38.0 million in February. This marked a notable increase of 37.2% compared to February 2023. However, it fell short by 29.0% from January’s record revenue of $53.5 million.

FanDuel, in partnership with Blue Chip Casino, reclaimed the top spot in terms of revenue generation. The collaboration brought in $13.8 million from $126.5 million in bets. DraftKings and Ameristar Casino followed closely behind with $13.6 million in revenue from a higher handle of $153.5 million.

Fanatics Betting and Gaming (FBG) entered the Indiana market, replacing PointsBet. The launch of FBG's online sportsbook in February adds to the state's diverse betting landscape. Existing PointsBet customers in Indiana will seamlessly transition to the new platform, retaining their account details and settings.

Indiana's dynamic sports betting scene continues to evolve, with new players entering the market and established brands competing for dominance. As the industry continues to grow, it remains to be seen how these developments will shape the future of sports betting in the state.