Indiana’s sports betting market saw both revenue and handle plunge by more than 50% in March as coronvirus (Covid-19) halted momentum in the state’s nascent regulated market.
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The data will be updated monthly following the official release of figures from the Indiana Gaming Commission.
Since the market opened in September last year, overall turnover had been growing steadily, however the closure of casinos mid-month and the cancellation of sporting events across the globe put paid to this trend.
Online fared better than retail, with GGR of $4.7m against $8.7m the previous month representing a 46% drop. On a turnover basis, the fall was more pronounced, with handle down 58% from February’s total.
Online sportsbooks took bets of just $60.8m in March, a huge drop from the $145.9m of the previous month.
In retail, GGR fell to $0.6m, a sharp 65% drop on February, which itself was a poor month for retail bookies from a revenue perspective as GGR fell 67% from January’s total.
On a turnover basis, retail handle fell to $14.0m from $41.3m in February. March was the third month in a row in which retail turnover fell, with retail and online showing diverging patterns prior to March.
DraftKings-branded Ameristar Casino saw its online market share drop significantly last month, falling to 52.0% from 65.4% in February. Second-placed Blue Chip Casino, powered by FanDuel, increased its market share slightly to 31.1%, up from 30.5% the previous month.
Interestingly, while French Lick’s market share rebounded after more than halving in February, it was narrowly beaten into third position by new online entrant Belterra Casino.
The Roar Digital-powered BetMGM sportsbook launched under its licence scooped up 7.9% of the online market in its first full month of operation. French Lick’s market share was 7.4% in March.
The situation was reversed when both retail and online was combined, with French Lick in third place, slightly ahead of Belterra. Ameristar Casino was again in the lead, followed by Blue Chip Casino.
Unsurprisingly for the time of year, basketball was the most bet-on sport in the state, accounting for 47.1% of activity. This was followed by parlay at 24.0%.
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A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.