April’s handle was down 64.8% from $74.8 million in March.
(Indianapolis, Ind.) - With casino doors still closed to the public, sports betting numbers continue to plummet with their worst month ever.
The Indiana Gaming Commission has released the April sports betting numbers and Indiana saw a nearly $50 million decrease in handled bets from the month of March.
Over $26 million was handled in Indiana casinos, and saw just $1.5 million in sports betting revenue. These record low numbers are costing sportsbooks an estimated $165 million in bets, according to estimates from PlayIndiana. April’s handle was down 64.8% from $74.8 million in March.
“April’s results are shocking, but not at all surprising,” said Dustin Gouker, chief analyst for PlayIndiana.com. “Bettors have very few places to turn in Indiana. In some states, online casinos have driven significant revenue. But that isn’t possible in Indiana. So the industry’s results will continue to be grim until the sports world figures out a way to reopen.”
Locally, Belterra Casino was the only local casino to see any revenue in the month of April.
Gamblers placed $418,195 in sports bets in Switzerland County resulting in $58,516 in revenue.
Hollywood Casino Lawrenceburg handled $449,638.
Rising Star Casino has handled just $3,886 in sports bets.
With NASCAR planning on revving up and the PGA Tour arranging a June tee off, these are both expected to draw betting interest. Betting surrounding the MLB and NBA continue to be unsure, as both are searching for a solution to restart their seasons.
Indiana’s casinos and retail sportsbooks could open as early as Sunday, June 14.
“It could be that April is the low point in what will undoubtedly still be a struggle until sports can resume with their regular schedules,” Gouker said. “If sports do resume relatively soon, online sportsbooks should recover quickly. In the meantime, sportsbooks will continue to look for creative ways to drive revenue.”
For more information, visit https://www.in.gov/igc/2363.htm.
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