Following a lower handle in February, Indiana sports betting bounced back by eclipsing the $450 million mark in sports betting handle.
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March’s handle came to $476.8 million, up 16.5% from February’s $409.1 million and was 50.5% more than March 2021’s $316.7 million.
Online sports betting made up $446.7 million of the handle, an increase of 15.9% from February’s $385.5 million and was 55.8% more than March 2021’s $286.8 million.
Indiana’s March sports betting revenue was $32.3 million, up 90.3% from February’s $17 million and was 22.5% higher than March 2021’s $26.4 million.
March’s sports betting tax was $3.1 million, up 90.3% from February’s $1.6 million and 22.4% more than March 2021’s $2.5 million.
Indiana’s total casino win for March (tables plus electronic gaming devices) was $235.2 million, while taxable adjusted gross revenue for gaming was $219.2 million.
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Indiana Sports Betting, March vs. February
|Total handle||Mobile handle||Revenue(taxable AGR)|
|Change||Up 16.5%||Up 15.9%||Up90.3%|
How Indiana Teams Fared in March Madness
Indiana is known as one of the more basketball-crazed states in the country, thanks to its high school and college teams across the state.
Residents in the state also had the opportunity to back numerous in-state teams at the sportsbooks during March Madness.
The Indiana Hoosiers men’s team defeated Wyoming in the First Four before getting trounced by Saint Mary’s in the first round. Meanwhile, the women’s team reached the Sweet 16 before falling to the eventual national runner-up, UConn.
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The Notre Dame men played one of the more thrilling games in the tournament when it defeated Rutgers 89-87 in double overtime in the First Four. The Irish defeated Alabama before losing to Texas Tech in the second round. On the women’s side, Notre Dame reached the Sweet 16 before giving up a late lead and losing to NC State in the Sweet 16.
The most notable outcome for any Indiana school was the Purdue men.
The Boilermakers were one of the teams expected to contend for the national title and reached the Sweet 16 after wins over Yale and Texas.
However, Purdue will be remembered for being another victim of the Saint Peter’s Cinderella run.
The Boilermakers saw their season end to the Peacocks in the Sweet 16 with a 67-64 loss. Saint Peters was a +680 moneyline underdog in the matchup, proving to be a profitable win for Peacock backers.
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