The Indiana Gaming Commission reported nearly $38 million in adjusted gross sports betting revenue for February on Tuesday as bet365 had a strong showing in its first full month of action in the Hoosier State.
Overall sportsbook revenue was up 37.2% compared to February 2023, getting an additional boost of $382,000 worth of adjustments in operators’ favor. It was, however, also off 29% from January’s record haul of $53.5 million.
Handle totaled $408.7 million, an increase of 14.7% from 12 months prior as the state tied a record with six consecutive months of $400 million-plus worth of accepted wagers. It first accomplished the feat from October 2021 through March 2022.
The statewide hold was 9.3%, dragged down slightly by retail sports betting. Brick-and-mortar sportsbooks had a 3.4% win rate against a $10.7 million handle for February as five venues posted losses. Wagering via sports betting apps totaled $398 million as the 13 mobile books crafted a collective 9.4% hold.