The Indiana Gaming Commission has released the sports betting numbers from the month of March, and college basketball provided a huge boost to the industry. The total sports betting handle for the month of March was $432 million, but that was actually a decrease from the March 2022 numbers.
Basketball remains the most popular sport in the state of Indiana, and bettors always tend to stay busy once the NCAA Tournament starts. Betting on in-state college teams in Indiana is available, and that always brings some added excitement and action.
The Indiana Gaming Commission did predict that sports betting would take a small step back this year, and the March totals could be a good indication of that taking place. Still, the projections say that Indiana sportsbooks will bring in at least $4.1 billion in wagers this year.
Basketball accounted for $224 million of the wagers during the month of March, and that was easily the most popular sport to bet on. That number is actually likely much higher as basketball bets that are included in a parlay are listed in a separate category.
Starting in March, sports betting tends to slow down in Indiana, and throughout the rest of the country as well. Major League Baseball is expected to become the most popular betting market for the next few months, but the next big month won’t happen until the return of college and professional football.
DraftKings Set the Tone
DraftKings Sportsbook was once again the top online sports betting option in the state of Indiana for the month of March, and that has been a trend in the state. They posted a total sports betting handle of $144 million in March, and that was slightly ahead of FanDuel at $136 million.
Caesars Sportsbook and BetMGM Sportsbook came in third and fourth place, respectively, and there was less than $1 million between those two operators. Indiana is a state with more than a dozen online sports betting operators, but bettors continue to seek out the biggest names.
Free Problem Gambling Treatment
March was Problem Gambling Awareness Month, and the Indiana Gaming Commission put out an aggressive strategy to try and help bettors. Even though March is now over, several of those initiatives will remain in place for April and beyond.
There are a number of ways to get free help in the state of Indiana, but the IGC is also urging bettors to give themselves a self-assessment before reaching out. According to the National Center for Responsible Gambling, at least 1% of bettors have developed some sort of problem.
Surrounded By Sports Betting
There are a number of factors that will contribute to the overall sports betting numbers in Indiana taking a hit this year, and looking at the state of Kentucky will give you a big reason. Kentucky just recently legalized sports betting and that now means that the Hoosier State is completely surrounded by states where this is a legal industry.
Indiana was a leader in the Midwest until the state of Illinois went live with legal sports betting. Since those two states share a border near Chicago, Indiana began losing out on some handle and revenue to the Land of Lincoln.
Sports betting experts also predict that the entire industry will be seeing a slight decrease in 2023 as there won’t be as many new bettors signing up for new accounts as what has taken place in years past.