Indiana sportsbooks lose out on $125m in March

Retail and online sportsbooks in the US state of Indiana were hit hard in the first weeks of the coronavirus shutdown, costing the state an estimated $125m in wagers in March, according to PlayIndiana.

And with no immediate end in sight, the industry will continue to navigate treacherous waters in the months ahead. “This is an unprecedented stoppage for legal sportsbooks and there is no playbook for them to follow to help manage the crisis,” said Dustin Gouker, lead analyst for PlayIndiana.com.

“Obviously, the sports betting industry is just one facet in a crisis that is affecting us all, too often tragically. But it is a business that employs hundreds in Indiana and generates millions in state taxes. And the bottom line is that there will be no significant relief until the sports world begins to open back up.”

Indiana appeared to be headed for its first month of more than $200m in bets. Instead, the state’s retail and online sportsbooks collected just $74.8m in March wagers, down 60 per cent from the record $187.2m in February, according to official reporting released yesterday. Almost all of the handle was generated before March 11, when the sports world began to shut down.