Indiana’s sports betting industry saw a 6% increase in handle for the month of February, according to a report by Gaming Intelligence. The total handle for the month reached $273.9 million, continuing the positive trend of growth in the state’s sports betting market.
The report also highlighted the impact of the ongoing COVID-19 pandemic on the industry, noting that while the handle increased, the total revenue for operators decreased by 32% to $16.7 million. This decline in revenue can be attributed to the lower hold percentage for operators as well as the lack of major sporting events in February.
Despite the decrease in revenue, the report also mentioned that online sports betting continued to dominate the market in Indiana, accounting for 84% of the total handle in February. Retail sportsbooks, on the other hand, saw a significant decrease in handle compared to the previous month.
The growth in Indiana’s sports betting industry can be attributed to several factors, including the increasing popularity of online sports betting, the expansion of sports betting apps in the state, and the overall growth of the sports betting market in the US.
Overall, the report indicates that Indiana’s sports betting industry is continuing to thrive, despite challenges posed by the pandemic. With more states legalizing sports betting and the continued growth of online sports betting, the industry is poised for further success in the coming months.
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