Indiana Sports Betting sees Increased revenue in Feb

The regulated sports betting operator, Indiana reported a 9.6% increase in handle this February. This was a landmark achievement for the operator as its online business set this new record with the month-on-month rise.

As the latest reports indicate, in February this year, the wagered amount escalated to $187.2m. Around $145.9m of this amount was wagered via the mobile apps and online websites which is 77.9% of the total. The revenue showed a decrease by 13.7% from that recorded in January 2020 after the player winnings were deducted from the revenue.  

The breakdown of the handle was not restricted to one sport. It was Basketball that gained much popularity among other sports. The staked amount on the game rose to $90.2m. Super Bowl, on the other hand, recorded a total of $11.6m as the wagered amount by Indiana bettors. This rise was reported over two days alone.

Parlay betting, another operator also emerged popular with its wagers rising by 8.6%. As the figures touched $44.1m, it was reported that bettors at Parlay wagered $39.7m more on other sports and events in February, at a time when the Academy Awards event took place.

It was Penn National Gaming’s Ameristar in East Chicago that leads the market scenario in February with its DraftKings’ online services. Accessible on mobile devices, this accounted for $74.1m of the handle where the stats recorded 12.3% rise; thanks to another $5.9m accrued from Ameristar retail sportsbook. Post adjustments, the figures stand at $6.0m of the taxable revenue to the State’s total.

Ameristar’s record is ahead of that recorded by Boyd Gaming’s Blue Chip Casino that powers the FanDuel on its platform under its license. The revenue here also increased by 28.9% to $63.8m. As reports suggest, the retail handle of the operator at the venue recorded revenue of $2.1m.

This was followed by Horseshoe Hammond by Caesars Entertainment. Their handle and revenue from retail alone recorded revenue of $1.1m although the online offering is yet to be launched.

Last year in October, the Rush Street sportsbook, BetRivers emerged as one of the primary online sportsbooks to go live, attracting a wager of $7.7m. This displayed a marginal depreciation month-on-month. The revenue generated from their $387,656 retail stakes was $375,898. This was down by 37.8%.

In January, BetAmerica sportsbook powered by Churchill Down was launched via the Rising Star Casino. They recorded revenue of $212,953; thanks to the double revenue. The operator is said to have lost more which means they didn’t post any revenue that month. BetMGM online sportsbook was rolled out by the Roar Digital. With the licensed Boyd Gaming’s Belterra that was launched in the month-end, it still managed to amass bets worth $70,061 as compared to the retail stakes of $864,230 over the entire month. The revenue for this property totalled to $34,179 which accounted for a 39.6% low.

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