Hoosier Park, other casinos continue to see healthy sports betting revenue
May 18—ANDERSON — The frenetic pace of sports wagering slowed in April compared to the first quarter of the year, but Indiana's sportsbooks — including The Book at Harrah's Hoosier Park Racing and Casino — still enjoyed a robust month compared to last year, when pandemic-related restrictions were still a factor in the postponement or cancellation of many events.
Driven by the Final Four and the early rounds of the NBA Playoffs, Hoosiers wagered more than $360 million last month, a drop from March's total of $476 million. But that was still a 52% increase over April 2021, when $236 million was wagered on sports statewide.
According to figures from PlayIndiana.com, an online news and information site that follows gaming and gambling trends in the state, The Book saw a handle of just over $37 million in April, good for more than $1.3 million in revenue and $124,903 in taxes generated.
Analysts noted that revenue numbers across the state are encouraging as sports betting heads into what's commonly considered its slow season, with basketball wrapping up and football season still months away.
"Indiana's love of basketball helped stave off a deeper slowdown than what we see in some other major markets," said Jake Garza, managing editor and lead analyst at PlayIndiana.com. "The market will continue to cool as NBA games become less frequent and baseball and other sports such as golf take center stage."
Even as wagering activity begins its seasonal decline, industry observers expect growth trends in the Hoosier State to remain consistent in the coming months.
"Indiana is among the most mature markets in the U.S., and sportsbooks continue to post impressive year-over-year gains, month after month," said Eric Ramsey, an analyst for the PlayUSA.com network. "Even with some economic headwinds, this annual growth should continue through the summer."
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