Indiana Sports activities Betting Displays Bounce From March Insanity – WISH-TV | Indianapolis Information | Indiana climate
INDIANAPOLIS (Inside INdiana Business) – Close to the record, but Indiana’s sports betting in March saw high betting volume as customers were drawn to the NCAA men’s basketball tournament. Based on data from the Indiana Gaming Commission, sports betting grossed nearly $ 317 million in March bets. It was the second most common in a month in Indiana after $ 348 million in January.
“It’s no surprise that March Madness was such a significant month for sports betting in Hoosier state. More than half of the state’s total bets were placed on basketball last month, ”said Ron Fritz, sports betting analyst for Gambling.com Group.
The March revenue generated government taxes of $ 2.5 million. Sports betting generated revenue of $ 26.4 million for casinos.
“We expect high volume in most of the legal US markets in March, but the Indiana situation was unique as March Madness was played exclusively in Indiana,” said Jessica Welman, senior analyst at PlayIndiana, a game analytics company. “We may never see a betting event like this again.”
According to analysts at PlayIndiana.com, the handle rose 323% year over year in March from $ 75 million in March 2020 when the pandemic brought major sports, including March Madness, to a standstill.