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.
Latest News
MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS
Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs. This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.
Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.
The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.
“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”
“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.
Financial reports
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.
Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.
Looking at each sector in Q3 2024:
- Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
- Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
- iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.
“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”
Popular iGaming content provider BGaming has solidified its market position in Brazil by securing an aggregation deal with Cometa Gaming.
Cometa Gaming is an online casino and sportsbook aggregator with several brands in Brazilian market, all in the regulatory process. The group handpicks the best slot studios in the industry to meet the high standards of its passionate players.
BGaming has initially launched its entire portfolio with Cometa Gaming’s iGaming and sports betting brand Br4bet, including popular titles such as Fruit Million, Burning Chilli X and Space XY. The provider will continue to roll out its games across several of the platform’s other brands over the coming months.
This latest partnership demonstrates BGaming’s growing demand in LatAm ahead of the Brazil’s regulated market launching in January, where it remains committed to delivering a safe, fair and entertaining experience for players.
Gian Carlo Ferrini, Sales Manager at BGaming, said: “Partnering with Cometa Gaming is a major move for BGaming, enabling us to broaden the reach of our award-winning content to LatAm players across its multiple brands. So far, we have enjoyed early success with Br4bet and look forward to launching with Cometa Gaming’s other casino sites in the future.”
Thomaz Campos, COO at Cometa Gaming, said: “BGaming continues to break new ground in Brazil and we are delighted to have them live on Br4bet. Their games will help us achieve our goal of delivering the most appealing and forward-thinking content to players, as we both work towards a shared commitment to excellence.”
BGaming is a fast-growing iGaming content provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 1,600+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 150+ products with HD graphics and a clear user interface for every device. The studio is also known for its brand exclusives created in partnerships with leading operators in the industry.
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