Indiana sports betting handle tops $400 million in February, up almost 15% Y-o-Y

Indiana's sports betting market saw a robust performance in February, with the total wagering handle surpassing $400 million, a dip from the previous month's record-breaking figures.

According to official data, the total handle for February stood at $408.7 million, marking a 14.7% increase compared to the same period last year. However, it represented a 14.9% decline from January's $480.3 million.

While the Super Bowl typically drives significant betting activity, the overall impact on wagering was less pronounced than anticipated. Only $14.1 million of the total bets were specifically placed on American football.

Basketball emerged as the most popular sport for betting, attracting $117.6 million in wagers. Meanwhile, baseball was just at $2.1 million. Parlay betting accounted for $191.0 million, while other sports betting totaled $83.6 million.

In terms of revenue, February saw a healthy increase, reaching $38.0 million, up 37.2% from the same period last year. However, it fell short of January's record-setting revenue of $53.5 million by 29.0%.

FanDuel and Blue Chip Casino led the revenue race in February, generating $13.8 million from $126.5 million in bets. DraftKings and Ameristar Casino closely followed with $13.6 million in revenue from a handle of $153.5 million.

The French Lick Resort, in partnership with Bet365, saw a strong performance in its first full month, raking in $3.5 million from $30.7 million in bets. Belterra Casino, another FanDuel partner, reported revenue of $3.2 million from a total handle of $31.3 million.

Fanatics Betting and Gaming (FBG) entered the Indiana market in February, replacing the PointsBet brand. The transition is part of FBG's strategy to expand its presence across the United States, with its sportsbook now live in 15 states, including New York.

Existing PointsBet customers in Indiana will have their accounts seamlessly transitioned to the Fanatics Sportsbook, maintaining their account details and settings.