FanDuel dethrones DraftKings at the top of Indiana’s sports betting hierarchy

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FanDuel ended DraftKings’ 30-month reign as Indiana’s premier mobile sports betting handle generator, as the state’s gaming commission announced a global handle of $476.8 million on Tuesday. for the month of March.

Sportsbooks launched in Hoosier State in September 2019, and mobile betting followed suit in October. With the exception of this first month of digital betting, DraftKings and FanDuel had been 1-2 every month, although FanDuel led the way in revenue for the last eight months of 2021 before DraftKings regained the No. 1 there.

FanDuel, however, accepted a monthly record $143.2 million in wagers in March, nearly $3.7 million more than DraftKings, which totaled nearly $139.6 million. Despite the small loss, DraftKings still generated $687.6 million more than its perennial rival despite launching operations just 18 days earlier.

Indiana’s overall grip was up 16.5% from February as the state extended its run of $400 million or more to six months. A 6.8% holdback — more than 2.5 percentage points higher than February — helped operators nearly double their month-over-month revenue to nearly $32.3 million , the fourth highest total in 31 months of betting. The state received nearly $3.1 million in tax revenue for the month, bringing the total for the first three months of the year to more than $8 million.

Year-over-year management grew 47.6%, and Hoosier State also became the fifth state — along with New Jersey, Nevada, Pennsylvania and Illinois — to top 7 billions of management dollars all the time in the post-PASPA era. Revenue is up 16.9% from the first three months of 2021, helping the state collect more than $1.1 million more in taxes than in the first quarter of 2021. last year.

Heavy Handle Hoops and Parlay Drive

Always known as a basketball-centric state when it comes to sports, Indiana bettors have lived up to that reputation by placing more than $274 million in professional and college basketball wagers. Indiana and Notre Dame contributed to the action by both winning their NCAA Tournament playoff games, with the Fighting Irish reaching the second round as the 11th seed.

Parlay bets exceeded $100 million for the sixth consecutive month, totaling $121.3 million for the month of March. The IGC does not include operator revenue for category bets, but bettors placed nearly $710.2 million in such bets this semester.

BetMGM and Caesars have a second tier clash

While DraftKings and FanDuel accounted for 64.4% of all mobile bets in Indiana, BetMGM pushed Caesars back to third place for the second month in a row, with the two claiming $111 million (25.3%) of 439 $.5 million bet online. BetMGM generated $161.7 million in the first three months of 2022 after posting an all-time high of nearly $56.2 million in March, while Caesars is at $154.9 million after 54.9 million dollars in bets for the month.

On the revenue side, FanDuel scored its first double in Indiana, as it recorded an 8.5% win rate and claimed over $12.1 million for its first victory of 2022. DraftKings was far behind, as it finished less than $20,000 less than $7 million. on a 5% withholding.

Despite being separated by less than $1.3 million in management, BetMGM more than doubled Caesars’ revenue, posting a record monthly high of nearly $5 million compared to the nearly $2.3 million of dollars from Caesars. Barstool Sportsbook ($14.2m), BetRivers ($13.6m) and PointsBet ($10.4m) rounded out operators that hit eight-figure handfuls, with Barstool posting the highest earnings of the trio with just over $840,000.

In March, Smarkets also launched operations in Hoosier State as the 14th mobile entity and third Rising Star Casino skin. He accepted $21,542 in bets and totaled $3,018 in earnings. This latter total was enough to finish ahead of TwinSpires, where bettors took nearly $10,000 ahead of a nearly $800,000 stake.

Hollywood is back on its winning ways in retail

The Hollywood Casino retail bell in Lawrenceburg posted its first seven-figure revenue total of 2022 in March, pacing physical venues with more than $1.5 million out of nearly $12.8 million wagered for a hold. just under 12%.

Hollywood was one of six retail casino sportsbooks to have a win rate of 9.4% or higher in March, with the overall in-person hold of 10.8% on $36.7 million, which generated nearly $4 million in revenue. The state’s two racetracks and three Winner’s Circle locations also performed well in March, claiming nearly $910,000 in revenue on nearly $8.7 million wagered for a 10.5% stake. The Winner’s Circle in Clarksville accounted for more than half of the revenue ($473,982) while recording a success rate of 12.4%.

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