With football ending, betting action has now passed its peak, and the slow descent until the Autumn has started. Indiana’s handle has fallen for two straight months, and they may not exceed $500 million in wagers until the fall.
The Indiana Gaming Commission announced that the Hoosier State took in $480.5 million last month, a 4.5% drop from December’s $503.1 million.
Despite seeing less money wagered, the sportsbooks actually increased their revenue. The hold percentage increased from 10% in December to 11.1% last month.
This in turn brought revenue to $53.4 million (up 5.5%), and the tax bill to $5 million (up 4.1%).
While January’s numbers are mixed compared to this time last year, Indiana is showing that their betting market is very strong. Year-over-year, the Hoosier State's handle grew 12.5% and revenue was 46.7% higher.
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Focus turns to basketball
With the Indianapolis Colts no longer in action, coupled with the entertaining play of the Indiana Pacers, bettors have increasingly turned their attention to basketball.
Indiana saw $113.1 million in basketball last month, down from the $1331.1 million in December. Meanwhile, football bets collapsed from $118 million to just $57.5 million.
Parlays, usually a big winner for the sportsbooks, were the most popular category — seeing nearly $270 million in wagers.
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