The Indiana sports betting handle declined by 9.1% year-on-year to $433 million in March, according to new data from the Indiana Gaming Commission.
It represented a significant decline compared to the $476.8 million wagered in March 2022, which could be attributed to regional competition.
Neighboring Ohio has now rolled out a legal online sports betting industry, so Buckeye State residents no longer need to head over the border into Indiana to place legal sports wagers.
A similar trend has emerged in West Virginia, which has seen a drop off in sports betting handle after legalization in Ohio.
Indiana was the first state in the Midwest to legalize sports betting back in May 2019, and it benefited from an influx of bettors from neighboring states.
Slowly but surely, that has been eroded, with Michigan, Illinois and Ohio all introducing their own legal sports wagering markets.
Its southern neighbor, Kentucky, is now poised to roll out legal sports betting before the end of 2023, which could deliver another blow to the Hoosier State.
The handle in Indiana declined by 14.6% year-on-year in January and 13% in February, and that trend continued in March.
DraftKings managed to edge out FanDuel as the most popular sportsbook in the state, with $144.2 million handled in March.
However, its revenue was just $13.4 million, whereas FanDuel held onto $16.2 million from a handle of $136.1 million.
Caesars Sportsbook, BetMGM and BetRivers rounded out the top five sportsbooks in Indiana.
