Indiana sports activities betting deal with dropped almost 13% year-over-year in February.

Sportsbooks dealt with $356 million final month in comparison with greater than $409 million in February 2022.

The year-over-year deal with within the state has declined for 5 consecutive months.

MonthTimeframeHandle decreaseOctober2021 vs. 2022-3.23percentNovember2021 vs. 2022-2.45percentDecember2021 vs. 2022-6.82percentJanuary2022 vs. 2023-14.59percentFebruary2022 vs. 2023-12.94%

Seasons change, handles change

Sports activities betting is, after all, very a lot calendar-dependent. Most states expertise a drop in deal with between April and August earlier than wagering picks up once more in fall with the beginning of NCAA and NFL soccer season.

Declining year-over-year deal with, presumably in the course of the busiest time of the sports activities wagering calendar, suggests a possible peak on the prime of the IN sports activities betting market, based on LSR projections. The record-high deal with in Indiana was $500 million in January 2022.

Sportsbooks held 7.7% final month and eight.5% to start the yr. Indiana has obtained $6.24 million in sports activities betting income this yr.

Indiana sports activities betting hit by Ohio

Ohio’s new sports activities wagering market has not helped Indiana. Income figures there have taken a noticeable hit because the starting of the yr.

Ohio made an enormous splash in on-line sports activities betting when it launched in January. The Buckeye State recorded $1.11 billion in OH sports activities betting deal with in its first month.

LSR initiatives February as one other month across the $1 billion mark in complete deal with. Official state knowledge can be launched later this month.

Indiana declines consistent with expectation

In January, Indiana was greater than 14% off its high-water mark of $500 million in deal with from the yr prior.

LSR projected Indiana’s income declines to start out the yr would have been nearer to -6% with out competitors from its neighbor. No less than to this point, Ohio initiatives to be taking 5-10% of Indiana’s enterprise.