Indiana Sports Betting Slower Than Expected, According to Reports

Indiana Sports Betting Slower Than Expected, According to Reports

Indiana’s sports betting industry faced another month-over-month fall in April, as gambling slumped to its lowest level since Oct. 2020. But in a state that knows growth very well, the anticipated fall is a sign of the start of the usual sports betting slowdown period that may last until the beginning of the football season, as stated by PlayIndiana. PlayIndiana supplies news and analysis of the state’s gaming industry.

According to Jessica Welman, lead analyst at PlayIndiana – “Even an extreme number of regular season NBA basketball and baseball games cannot make up for a calendar devoid of college and NFL football sport, or a key wagering event like the NCAA Tournament.” The pandemic caused problems for the 2020 sports schedule, and PlayIndiana has not faced a full year of usual sports betting activity. But there are typical seasonal flows and ebbs in sports gambling, and this is the beginning of what is traditionally the slowest period every year.

Revenue Generated

According to the official report released Wednesday, Indiana sportsbooks raised $236.4 million in betting in April. That is down from $316.7 million in March, while the sportsbooks raised $230.9 million in October 2020.

April’s wagers received $20.1 million in adjusted gross revenue, down from $26.4 million (23.8% fall) in March. That generated $1.9 million in state taxes.

Indiana sportsbooks have already collected $1.2 billion in wagers through the first four months of the year. The low point of the year – online sportsbooks received $26.3 million in bets in April 2020, whereas retail outlets were closed because the sports industry went quiet.

Statement By Nicole Russo, Analyst At PlayIndiana

“This is the first we get to see the performance of Indiana during the summer and spring months, and through one month, PlayIndiana is meeting expectations.”

The online market got more cutthroat in April with the set up of WynnBEt on 1 April, then TwinSpires just before the Kentucky Derby. Barstool is also preparing for the launch of its applications.

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