Indiana sports betting deal with dropped practically 13% year-more than-year in February.

Sportsbooks handled $356 million final month compared to additional than $409 million in February 2022.

The year-more than-year deal with in the state has declined for 5 consecutive months.

MonthTimeframeHandle decreaseOctober2021 vs. 2022-three.23%November2021 vs. 2022-two.45%December2021 vs. 2022-six.82%January2022 vs. 2023-14.59%February2022 vs. 2023-12.94%

Seasons alter, handles alter

Sports betting is, of course, quite a great deal calendar-dependent. Most states practical experience a drop in deal with in between April and August just before wagering picks up once more in fall with the get started of NCAA and NFL football season.

Declining year-more than-year deal with, presumably throughout the busiest time of the sports wagering calendar, suggests a probably peak at the prime of the IN sports betting industry, according to LSR projections. The record-higher deal with in Indiana was $500 million in January 2022.

Sportsbooks held 7.7% final month and eight.five% to start the year. Indiana has received $six.24 million in sports betting income this year.

Indiana sports betting hit by Ohio

Ohio’s new sports wagering industry has not helped Indiana. Income figures there have taken a noticeable hit considering that the starting of the year.

Ohio created a enormous splash in on the web sports betting when it launched in January. The Buckeye State recorded $1.11 billion in OH sports betting deal with in its initially month.

LSR projects February as an additional month about the $1 billion mark in total deal with. Official state information will be released later this month.

Indiana declines in line with expectation

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

LSR projected Indiana’s income declines to get started the year would have been closer to -six% with no competitors from its neighbor. At least so far, Ohio projects to be taking five-ten% of Indiana’s business enterprise.