Indiana gambling revenue dropped in March after the state closed casinos and canceled sporting events to prevent the spread of the coronavirus. The state’s gambling tax revenue in March was $29 million, which was a decrease of 52 percent from nearly $60 million in February.
Total casino revenue for March was $98 million, which was down from $196 million in February. During the same time, the amount wagered was $75 million, a decrease of 60 percent wagered in February.
The Indiana Gaming Commission closed two race track casinos and 11 casinos last March 16. Although residents can still bet on sports through mobile apps, the cancelation of sports events limited the betting options.
Indiana Gambling Revenue in March
Coronavirus caused a pandemic that had most of the world in lockdown. For most people, it causes mild to moderate symptoms that include cough and fever. However, it will be gone in two to three weeks, according to the best betting software. However, the virus can be deadly for older adults and people with existing health conditions. It can result in severe illness such as pneumonia.
Based on sportsbook pay per head reviews, March was supposed to be a good month for sports betting. However, March Madness was canceled as organizers suspended conference tournaments before they played most games.
Some people were reading a guide to prop betting in the hopes of using it in their wagering strategy. However, the NBA games and NCAA tournaments didn’t take place. Despite the lack of sports, people in Indiana managed to wager $35 million on basketball in March.
Adjusted gross revenue for sports betting firms in the state was $5.5 million. It was the lowest amount since the state legalized sports wagering in September. The good news is that there are some sports events people can bet on later this month. The WNBA and NFL draft will commence as scheduled.