Sports Betting To Provide Indiana With A Financial Windfall 

March 16, 2020
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Indiana is the 10th state in the United States to adopt sports betting which is expected to bring a financial windfall to the state. If you are a resident of Indiana or the neighbouring states, you can try the physical Indiana Sportsbook or mobile wagering. All you need to do is download the app and sign up for an account to start sports betting. 

Basketball

Sports are heavily ingrained in the society of Indiana particularly NBA and college basketball. It was only a matter of time for sports betting to be legalized. On September 1, 2019, the Supreme Court decided to overturn the Professional and Amateur Sports Protection Act (PASPA) and opened the market for sports wagering.

Mobile Sports’ Betting

Indiana was previously denied permission to offer sports betting but it moved quickly to find a solution that will be accepted by both sides to increase revenue for casinos. Licensed sports betting operators were allowed by Bill HB1015 to take bets on both professional and college sports. Mobile sports’ betting was also allowed by the bill to start in Indiana in October. 

However, like other states that have adopted legalized sports betting, it is only allowed to people who are physically present in Indiana. People residing in the bordering states like Ohio, Kentucky, Michigan, and Illinois can sign up in person for an account and download the sports betting app but they cannot place bets unless geographical location technology places them in the state. 

Casinos in Indiana moved quickly after the bill. After all, a licensing fee of $100,000 and a $50,000 annual renewal fee is substantially low and reasonable. The 9.5% tax rate is not too bad for the operators. At present, there are 14 casinos in Indiana and all of them are authorized to take sports wagers. Some of the operators are in the process of getting cleared for sports betting. 

Many operators that are partnering with Indiana casinos for sports betting are familiar because they are the same names in states like New York, New Jersey, Iowa, and Pennsylvania. Iowa laws allow casinos to have 2 partners or skins but in Indiana, partnerships have been expanded to three. 

This means that several sportsbooks will be setting up licensing with the casinos in the near future. This will create a competitive betting market in Indiana. Expect operators like PointBet, Fox Bet, theScore and SugarHouse to be involved in the Indiana casinos. 

Even if mobile betting is expanded in Indiana, it is unlikely to include casinos or poker at any time soon in spite of the attractiveness of a financial windfall. For the people in Indiana, nothing beats the convenience of being able to place a sports bet from the home, restaurant, bar or anywhere. Mobile sports’ betting has opened up the state for residents coming from neighbouring states. 

 

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