The Indiana Gaming Commission reported adjusted gross sports betting revenue of $37.1 million for April on Friday, a year-over-year increase of 26%.

Hoosier State operators finished with a 9.4% hold on adjusted revenue, which included close to $2 million in downward adjustments. The year-to-date sportsbook winnings of $168 million are up 23.1% compared to the first four months of 2023, with the 9.4% win rate an increase of more than one-half of a percentage point.

Handle totaled $393.9 million, up 21.9% compared to last year, and the $1.78 billion in accepted wagers in 2024 is 16% higher than January through April of last year. The state collected $3.5 million in taxes, and the nearly $16 million in receipts for 2024 is $2.8 million more than the same span in 2023.

1 Maryland $486.3M
2 Indiana $393.9M
3 TENNESSEE $380.9M
4 West Virginia $34.4M
5 Montana $5.5M
6 TBD
7 TBD
8 TBD
9 TBD
10 TBD#SportsBettingX #GamblingX

— Chris Altruda (@AlTruda73) May 10, 2024

April continued the status quo atop the revenue and handle rankings among Indiana’s 13 sports betting apps. FanDuel paced revenue with $15.8 million thanks to a 12.3% hold against $128.8 million in handle. It was also enough to push the mobile leviathan above $500 million in total revenue in the Hoosier State.

DraftKings extended its run atop the handle rankings to 11 months by accepting $144.2 million worth of bets. It posted a healthy 9.1% win rate to claim $13.1 million in winnings, but it was the first time in three months the long-time rivals were separated by more than $300,000 in revenue.

Despite $93 million less in handle the first four months of 2024, FanDuel has accumulated nearly $7.8 million more in revenue at $66.7 million while attaining an 11.8% hold. DraftKings has fashioned an 8.9% win rate in that span.

BetMGM continues to be on an island when it comes to the No. 3 spot in both categories. It fared much better in April than March — reaping $3.6 million from $31.1 million worth of accepted bets as its 11.6% hold was an increase of more than 5.4 percentage points.

The staying power of bet365 has tightened the race for the Nos. 4-6 spots for handle. Caesars held off both the England-based sportsbook and ESPN BET for fourth with $18.3 million in handle, but bet365 took fourth for revenue with $1.4 million — $42,300 more than ESPN BET. Caesars was another $55,000 back at close to $1.3 million.

Fanatics Sportsbook rounded out the group of mobile operators with a seven-figure revenue haul thanks to an 11.6% hold on $9.1 million in handle to claim $45,900 above the $1 million benchmark.

Bally Bet posted records for revenue and handle for the second consecutive month as it collected $603,200 from $6.2 million in wagers, resulting in a 9.7% hold. More than half its $1.1 million in winnings have come in the last two months, while the $10.9 million handle in that span is nearly three-quarters of its year-to-date total.

The statewide hold on mobile sports betting was 10.1% for April, the fourth time in seven months it reached double digits. April’s $383.5 million worth of wagers pushed the all-time digital handle above $15 billion.

It was a rough April for the now 15 brick-and-mortar sportsbooks as the $180,313 in revenue was the lowest monthly total reported, excluding the COVID-19 pandemic impacted numbers in 2020. They finished with a 1.7% hold on $10.4 million worth of wagers, also an all-time low when not including the pandemic.

Indiana’s newest sportsbook at the Terre Haute Casino Resort, however, bucked that trend in its debut month. The Churchill Downs-owned venue, which took its first bets April 5, had a robust 19.7% win rate in keeping $31,800 of the $161,600 wagered.

Seven venues finished in the red, with Belterra Casino joining the since-shuttered Rising Star as the only brick-and-mortar sportsbooks in state history to have four consecutive losing months. Bettors came out $15,760 ahead in April, leaving Belterra $88,037 in the red this year with a hold of minus-10.6% on $830,100 in handle.

Indiana’s two racino sportsbook and three Winner’s Circle locations fared slightly better than their casino counterparts, notching a 6.3% hold from $3.1 million worth of bets placed to collect $192,900.