In its February monthly revenue report, the Indiana Gaming Commission reported a total handle of $408.4 million in February, down 14.9 percent from January but up 14.7 percent from last February.
Some of the decline can be attributed to the end of the football season, with a significant portion of Super Bowl betting not carried over to February. While $57.5 million was wagered on football in January, the number dropped to $14.1 million in February. Basketball still remained the leading betting sport in Indiana, generating handles of $113.1 and $117.5 million in January and February, respectively.
The most bets in Indiana were parlay wagers, generating a handle of $269.9 million in January, compared to $191 million in February.
Total sports wagering adjusted gross revenue in February was $37.9 million, 30 percent less than January’s $55.4 million, but was 37 percent higher than the $27.7 million generated in February 2023.
Despite decreasing month-on-month handle and revenue, Indiana’s taxes from sports betting increased by 15.6 percent over the period, with $53 millionand $62.8 million paid in taxes in January and February, respectively. The main driver for the increase was the wagering tax that grew from $44.5 million in January to $55.1 million in February.
The report comes on the back of a recent feud between the Indiana Gaming Commission and the state’s General Assembly. On Friday, lawmakers approved a bill that prevents the commission from getting additional funding without its approval. The motion also directs money generated from casino fines and penalties directly to the state instead of the agency.
