Press Releases
PlayIndiana.com: March Madness propels Indiana sportsbooks to second-best month ever
Indiana’s sportsbooks reversed their February dip, using a completely home-grown NCAA Tournament to push monthly betting volume past the $300 million mark, according to PlayIndiana, which provides news and analysis of the state’s gaming industry.
“We expect to see high volume across most legal U.S. markets in March, but Indiana’s circumstances were unique with March Madness played entirely in Indiana,” said Jessica Welman, lead analyst at PlayIndiana. “It’s hard to know just how much it moved the needle, but March’s results were clearly fueled by a huge volume of NCAA Tournament games all in one place and by a number of fans who traveled to Indiana and then bet legally as they attended games. We may never see a betting event quite like that ever again.”
Indiana sportsbooks brought in $316.7 million in wagers in March, according to official reporting released Monday. That is the second-most for a month in Indiana and up 15.6% from $273.9 million in February. Only January’s record of $348.2 million topped March’s results, pushing Indiana’s lifetime handle to $3.1 billion since launch.
Sportsbooks generated $26.4 million in revenue, a 55.4% increase from $17 million in February, and only topped by the record $29.3 million set in January. March’s revenue yielded $2.5 million in state taxes.
Year-over-year, March’s handle was up 323.3% from $74.8 million in March 2020, a month marred by the pandemic-related shutdown of major U.S. sports, including the NCAA Tournament. Revenue rose 379.5% year-over-year from $5.5 million in March 2020.
“What a difference a year makes, even if comparing this year to last year is apples and oranges,” said Nicole Russo, analyst for PlayIndiana. “Beyond the shutdowns, so much has changed in Indiana’s landscape. Yet, the state continues to fare well in large part because its regulatory framework has been fair and unlike its neighbors in Illinois, consistent. That has created a resilient state industry able to withstand increased competition from neighboring states and a brutal pandemic.”
Online betting accounted for 88.1%, or $279.2 million, of the state’s handle, a modest decrease from 88.4% in February. $160.6 million of March’s bets were on basketball, a dramatic increase from $127.2 million in February as March Madness gripped the attention of bettors. That came even as Purdue, the lone Indiana representative in the NCAA Tournament among the state’s 10 Division I men’s programs, was knocked out in the first round.
“For a basketball-crazy state like Indiana, a dearth of local teams could have really lowered the state’s handle,” Welman said. “But it appears that the proximity of the tournament made up for a lack of Indiana representation.”
DraftKings/Ameristar Casino led the state’s operators with $111.2 million in online bets, up from $107.4 million in February and accounting for 39.8% of the state’s online handle. The month produced $8.5 million in receipts, up from $3.7 million in January. FanDuel/Blue Chip Casino was second with $92.4 million in bets, up from $70.9 million in February. That produced $6.8 million in receipts, up from $5 million.
The leaders were followed by:
- BetMGM/Belterra ($39.4 million handle, up from $33 million in January; $3.6 million win, up from $2.2 million).
- PointsBet/Hollywood Lawrenceburg ($13.1 million handle, up from $11.3 million; $1.7 million win, up from $1.3 million)
- William Hill/Tropicana Evansville ($9.5 million handle, up from $5.6 million; $879,577 win, up from $584,406)
- BetRivers/French Lick Resort ($9.2 million handle, up from $7.5 million; $829,034 win, up from $490,139)
- TheScore/Ameristar ($3 million handle, up from $2.7 million; $263,111 win, up from $180,674)
- Unibet/Horseshoe Hammond ($2.1 million handle, up from $1.8 million; $139,283 win, up from $70,125)
- Caesars/Horseshoe Hammond ($229,488 handle, down from $667,360; $1,392 win, up from -$20,062)
- BetAmerica/Rising Star Casino ($76,686 handle, down from $100,555; $1,191 win, down from $3,328)
$37.5 million in bets were placed at retail sportsbooks In March, up from $32.9 million in February. Hollywood Lawrenceburg, nearest Cincinnati, led the retail market with $10.8 million in wagers. Ameristar East Chicago was second with $6.2 million.
Operators in Indiana may also receive a boost from Illinois, where Gov. J.B. Pritzker reinstated in-person registration for that state’s online sportsbooks. That decision could make traveling across the border from the Chicago area more appealing, at least for some.
“Indiana has always been a market that has capitalized on large markets just across its borders,” Russo said. “Illinois’ decision could modestly move the needle, especially for the Chicago-area casinos that have always counted on out-of-state bettors as a significant portion of their customer base.”
For more revenue information on Indiana sportsbooks, visit PlayIndiana.com/revenue.
The Unit aims to grow its presence in the Americas with move to new Manhattan location in January 2025 at Bank of Ireland’s NYC Hub
The Unit, a leader in product design and development for sports betting and iGaming, will proudly open its new office in New York City, as part of its long-term global expansion objectives, in January 2025.
The Americas division was established in 2023 with the launch of The Unit’s partnership with online operator PlayStar Casino. The New York City office, located in the heart of Manhattan, will now be the hub for The Unit’s activity in the Americas.
This new base will be located at Bank of Ireland’s NYC Hub, which was launched to help Irish business owners expand their North American operations. The offices at 2 Grand Central Tower are a great asset to Irish companies aiming to expand their operations in the United States and beyond. This is an ideal location for The Unit to grow its footprint in the region.
The project will be put into practice by The Unit’s Head of Business Development & Account Management Mark O’Hare, who has relocated to New York and will be responsible for The Unit’s commercial growth in the region.
With product and development teams in Ireland and Moldova, the addition of an American hub is further proof The Unit holds an unwavering commitment to becoming the partner of choice, on a global scale, throughout the industry.
Paddy Casey, Co-founder at The Unit, said: “These are exciting times for The Unit, and with plans in place to exponentially grow our presence in the Americas across the next few years, the start of 2025 will be the perfect time for us to move into one of the most vibrant cities in the world.
“This will be the ideal addition to our existing bases in Ireland and Moldova. The flexible workspace the hub can provide will be integral to our plans and will give us the opportunity to grow the team.
“This is an excellent opportunity for us to touch base with clients in the Americas and strategise further launches. We’re looking forward to mapping out our future in the region with our team on the ground there.
“I would like to thank Mark O’Hare for making the move to New York, and I’m sure both he and his team will have the skills and experience to execute our vision for the Americas division across the long-term.”
Tania Sheikh, Manager of NYC Hub for Bank of Ireland, said: “We are very pleased to welcome The Unit to the NYC Hub. The facilities we can provide have helped businesses scale up and connect with their partners, and we are proud to offer that opportunity to The Unit.
“We look forward to hosting The Unit and wish them well in their endeavors to grow their business here.”
The Unit has solidified its strong track record of building world-class, scalable and efficient products for the sports betting and iGaming sector in recent years.
As The Unit embarks on this exciting period of growth, the company remains committed to delivering exceptional products and services to its clients. With its experienced team, best-in-class product development capabilities, and focus on innovation, The Unit is poised to shape the future of the sports betting and iGaming industries.
Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.
Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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