Indiana’s wagering slipped in April from the high water reached during the first three months of the year, but sports betting volume still gained more than 50% year-over-year, according to official data released Thursday.
In essence, April marks the beginning of a seasonal ebb in sports betting that should last until football season.
With the NBA Playoffs, the Final Four, and the first month of baseball spurring bettors, Indiana’s online and retail sportsbooks generated $360.0 million in bets in April. Sportsbooks won $27.6 million in gross revenue from those bets, producing $2.7 million in state and local taxes.
April’s wagering was up 52.3% from $236.4 million from April 2021, and operator revenue was up 40.3% from $19.7 million year-over-year. But wagering was off 24.5% from $476.8 million in March, and revenue was down 15.7% from $32.8 million.
$129.2 million was wagered on basketball in April, up from $76.1 million in April 2021. Baseball was the second-most popular bet in April with $56.7 million, up from $44.5 million year-over-year. Parlay betting accounted for $91.3 million. And wagering on sports categorized as “other,” which includes golf’s Masters tournament and the NHL Playoffs, generated $76.5 million.
“Indiana’s love of basketball helps stave off a deeper slowdown than what we see in some other major markets. And with the NBA Playoffs and the Final Four, bettors still found plenty to bet on in April,” noted PlayIndiana analyst Jake Garza. “But the market will continue to cool as NBA games become less frequent and baseball and other sports such as golf take center stage.“