Brand new and burgeoning sports betting state Indiana has reporting their earnings for April and it doesn’t looks good. The state saw its overall betting handle (amount in total bets written) drop 64% from March to April. The combined Indiana handle was $26.3M for April, compared to $75M from March. The estimated handle pre-pandemic for April was $165M.
The simple fact is that April had virtually no sports to bet. There are some futures on the board. Other than that it has been “crickets”.
Total gross revenue for April was just $1.6M, down from $5.5M in March. This number means that only about $150K in tax revenue was generated for the state.
State officials need not to fear. The economy is opening up and sports are starting to be scheduled. NASCAR is having a race this month and MLB has been in talks about having half-a-season worth of games. There have been no plans to cancel NCAA or NFL football because of the pandemic.
