Indiana’s sports betting market saw record turnover last month but GGR was dragged down by a poor performance in the retail channel.
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Turnover for listed bookmakers surged to $187.2m last month, up almost 10% from $170.8m in January.
It was online that led the rise in handle, with an 18.2% increase in February. The decline in retail turnover accelerated, falling 12.6% to $41.3m last month after dropping by 7% the previous month.
The news was even worse for retail on the GGR front, with revenues tanking by 66.7% in February to a mere $1.7m. On the other hand, online revenues rose to an all-time high of $8.7m, rebounding by 22.5% after having fallen in January.
DraftKings-branded Ameristar Casino held steady as the online market leader, with 65.4% of the market in February. Its nearest competitor, FanDuel-powered Blue Chip Casino, increased its market share to 30.5%, up from 27.2% the previous month.
Blue Chip’s gains came at the expense of French Lick Resort, whose online market share more than halved to 4.0%, down from 8.3% in January.
When including also the retail market, Ameristar saw its overall market share rise significantly, increasing to 54.5% from 46.8% in January.
But second-placed Blue Chip’s share fell to 18.6% from 21.9% the previous month, and third-placed Horseshoe Hammond Casino also lost ground in February, with its share falling to 9.6% from 14.0% in January. It continued to have the highest retail turnover in the state by some distance, however.
Basketball was again the most popular sport with sports bettors, with its market share rising to 48.5% last month. This was followed by parlay at 27.3%.
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A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.