Indiana suffers from expected slowdown through April
Indiana has seen a continued month-to-month decline, with bettors falling to their lowest level since October 2020 before an anticipated slowdown that analysts say could last until the start of the NFL season.
Bookmakers in the state collected $ 236. 4 in bets in April , down 25. 4 percent from $ 316. 7 million in March and the lowest monthly handle since bookmakers generated 230. 9 million handle in October 2020.
Monthly bets were generated $ 20. 1 million in adjusted gross revenue, a 23. 8% decrease from $ 26. 4m in March. This yielded $1.9 million in state taxes.
"Even the large number of baseball and NBA basketball games in the regular season may not make up for a calendar devoid of NFL and college football games or major bookmaking events such as the NCAA tournament, "she said Jessica Welman, principal analyst at PlayIndiana .
"Because the pandemic turned 2020 sports on its head, Indiana hasn't really experienced a full year of normal sports betting activity. But there are normal seasonal ebbs and flows in sports betting, and this is the beginning of historically the slowest period of any year. "
Online betting accounted for 88. 4 percent or $ . 1m, the state handle, up from 88. 1 percent in March. Retailers generated the remaining $ 27. 3m plants, down from 37. 5m in March.
DraftKings once again topped all online operators with $ 79. 3 million in online betting, down from 88. 2 million in March. It contributed $6.1 million in gross revenue, up from $8.5 million in March.
FanDuel was second with $ 67. 1 million in facilities, down from $ 92. 4 million in March, and brought in $5.7 million in gross revenue compared to $6.8 million in the previous month. Hollywood Lawrenceburg again the retail market leader with $8.4 million in facilities.
The online market also became more competitive in April with the launch of WynnBet April 1 and TwinSpires right before the Kentucky Derby. Bar stool is also getting ready to launch his application.
"Even as the market approaches its second birthday, operators remain bullish on Indiana," she added Nicole Russo, PlayIndiana analyst . "With two of the most popular retail bookmakers in the state, the Barstool web app could really move the market. The new entry will make the biggest operators in the state stand on their heads and fight for new customers. "