Indiana betting jumps in March, but profits fall

The Indiana Gaming Commission (IGC) said March proved to be a busy month for licensed sports betting operators in Indiana. The total amount of bets reported by operators in March was $50.8 million. The result represents a 15.6% year-over-year increase compared to $433 million reported in the same period in 2023.

But while betting handles have increased year-over-year, that has not been the case for tax-adjusted gross revenue (AGR). Gross taxable AGR for March this year stopped at $39.4 million. It showed a decrease of more than $3 million in March 2023 compared to a taxable AGR of $42.8 million posted a year ago.

An unexpected year-over-year drop in taxable AGR also affected taxes collected by Indiana in March. Sports betting taxes collected by the state totaled $3.7 million last month, down from $4,070,044 in the same period in 2023.

Still, month-over-month results showed an uptick. Betting in Indiana in February was $48.7 million, far from the recently reported $508.8 million. Unexpectedly, the taxable AGR for February, a month ago, was also lower. The licensed operator in Indiana reported a taxable AGR of nearly $38 million in February this year, $1.4 million below the March figure.

DraftKings Records Top Betting Handle In March 안전 토토사이트

According to an analysis of the $50.8 million bet, basketball was the most popular sport last month. Bets for basketball ranked second far with bets of $167.9 million, while baseball ranked second with bets of $9.9 million, followed by soccer with $1.7 million. Bets for other games accounted for $173 million, totaling $148.1 million.

DraftKings was the state’s unquestionable leader last month, according to additional details released by the IGC. Overall, the operator, whose partner is Amerista Casino, reported a bet amount of $184.3 million, posting a taxable AGR of $14.5 million.

FanDuel was closely followed by its partner, Blue Chip Casino, in Indiana. FanDuel reported a total of $153.2 million in March, the second-best result in the state. Along with its partner, the operator posted a taxable AGR of $14.5 million.

The distant third place went to BetMGM, along with Indiana partner Beltera Casino. Overall, BetMGM’s bet in March was $42.3 million, bringing its total receipts to $2.6 million.

Leave a Reply

Your email address will not be published. Required fields are marked *