Indiana’s total March handle hit $517.8 million, marking a 6.5% decline from March 2025’s $553.6 million.

This drop is particularly striking given that March is typically the peak month for sports betting. However, a significant rebound in the sportsbook hold rate rising to 9.47% from last year’s four-year low of 6.47% transformed the reduced handle into an impressive $49.1 million in gross gaming revenue, reflecting a robust year-over-year increase of 37.1%.

The state tax revenue mirrored this positive trend, climbing 37.1% to reach $4,660,040, up from $3.4 million, which marks Indiana’s best March tax performance since 2023. The breakdown of the betting composition adds essential context: basketball wagers totaled $219.3 million, while parlay bets stood at $175.1 million, together making up 76.2% of March’s total handle.

This concentration indicates that Indiana’s March revenue is particularly vulnerable to the outcomes of tournaments and the success rate of multi-leg bets. It’s important to give more weight to Indiana’s March 2026 handle decline beyond the gross gaming revenue headlines. A 6.5% drop during such a pivotal time March Madness, historically the busiest betting period—is not insignificant. It translates to $35.8 million less in wagers compared to the previous year.