The Indiana Gaming Commission reported that the state saw $321.4 million in legal sports betting wagers last month, a 25.7% monthly decline. Indiana hasn’t seen this low of a handle since August 2022.
Indiana’s tax revenue unsurprisingly also fell, by 30%, to $2.8 million. The hold percentage remained above 9%, but April’s 9.1% was below March’s 9.8%.
Compared to this time last year, April 2022 saw a greater handle ($360 million) but due to a 7.9% hold by the sportsbooks, the revenue difference was negligible and 2023 actually saw a slight increase in tax revenue.
FanDuel pulls ahead
FanDuel saw its action drop by 22% month over month and is now Indiana’s top sportsbook with $106 million in wagers.
Baseball saved from April’s slump
Despite April 2023 seeing 10.7% fewer wagers ($40 million) versus April 2022, baseball was the only reported sport to see an increase in action.
Baseball saw 7.9% more bets while football (10.5%) and basketball (30.1%) declined significantly.