Indiana Sportsbooks Post Record February Handle
Indiana Sportsbooks take in a record $187.2 Million handle in February, smashing previous records. Indiana’s…read more
Legal sports gambling in Indiana is now a reality and on Sunday September 1st 2019, the first bets were placed by state governor Eric Holcomb at the Caesars Indiana Grand Casino in Shelbyville.
Just for the record, he bet: $10 on the Indianapolis Colts to win the Super Bowl; $10 on the Indiana Pacers to win the NBA Championship; and $10 on the Indiana Fever to win its Sunday night game.
“The legislature did something rare. We’re progressing with this gaming bill and bringing another amenity to not only Shelbyville, but also the state of Indiana, with sports wagering,“ said Rep. Sean Eberhart said after the ribbon-cutting ceremony, before adding: “And it helps us bring a little bit of competition with other neighboring states. Hoosiers can now bet with confidence.”
It was Gov. Holcomb who signed a bill into law on May 8th, 2019, making Indiana the tenth U.S. state to legalize sports betting following the Supreme Court’s repeal of PASPA in May 2018, having deemed the 1992 law to be unconstitutional.
That paved the way for the 13 state-regulated casinos to apply for licenses to open retail sportsbooks and 11 of these, along with all three of its off-track betting parlors, have since received temporary sports betting licenses from the Indiana Gaming Commission (IGC). Given the expansion and growth predicted, all are expected to open sportsbooks eventually.
The following eight locations opened sportsbooks in September 2019:
The other six locations with temporary licenses are as follows:
By allowing authorized casinos to partner up with existing sportsbook operators, Indiana has followed a similar line to most other states where sports betting has been legalized.
This is a big advantage for the casinos as they are not having to build sportsbooks from scratch, while the operators get to grow their brands and revenue further. Its a win-win situation.
The list of operators in Indiana includes such familiar names as FanDuel and DraftKings, both of whom are already live in New Jersey, Pennsylvania and West Virginia. They could be joined by the following operators, all of whom are stepping up activities in the hope of having a presence in the state:
Anyone aged 21 or older and who is physically situated within state borders. That includes visitors too and like what is already happening in New Jersey, players from neighboring states can cross into Indiana to place bets. Operators are using geo-fencing software – combining IP, Celluar and WiFi data – to administer this essential requirement of their licenses. The use of VPNs is not permitted.
It’s easier to list what you can’t bet on as it’s a short one:
So the full list is an exhaustive one and includes many niche sports such as cricket, which is hugely popular as a betting medium outside the US:
The state is fortunate enough to represent at the highest level in both professional football and basketball, while college and women’s teams are well represented too:
Indiana Pacers (NBA)
Indiana Fever (WNBA)
Indianapolis Colts (NFL)
Indiana University (NCAA)
Notre Dame University (NCAA)
Purdue University (NCAA)
Now legal in all 14 casinos/racinos currently operating in the Hoosier State with temporary licenses, bettors can walk in and place their bets at the sportsbook kiosk, providing they first register and provide the last four digits of their social security number – this is to confirm age and protect minors.
Unlike Iowa, where players have to first register in person at a brick-and-mortar casino, at least through to the end of 2020, Hoosiers can register with sportsbooks directly via a website browser or an app. You can see all the best Indiana Sportsbook apps on our dedicated review pages.
That didn’t happen straight away in the Hoosier State as retail is far easier to roll out into existing properties, but most operators, if not all of them, will launch mobile betting after first opening in retail locations.
Hoosiers who want to bet online will have to provide some personal information, which may include:
Once registered and having funded their account by depositing, bettors can place bets on all the sports previously mentioned, with the following markets sure to be the most popular:
Live, in-play or in-game wagering is also available at all the new sportsbooks and, if other states like New Jersey and Pennsylvania where it’s already live are good examples, it could prove to be the most popular form of wagering.
Still only available with offshore-books operating illegally. Indiana’s 2019 gambling bill legalized online sports betting only, unfortunately.
Following a meeting of the IGC in late August, DraftKings, FanDuel and FantasyDraft have all had their permits extended for at least a further 12 months. All three operators have been licensed in the state since June 2017.
Sports wagering revenue has fallen short of expectations in some states that have legalized it since the repeal of PASPA, but they all launched without mobile betting and New Jersey, where it is permitted statewide, has seen a staggering growth in revenue.
With Indiana following the same path as NJ and operators clamoring to open mobile sportsbooks, the future looks bright. Whilst regulators set a fairly modest tax rate of 9.5% – it’s as high as 36% in PA – on adjusted gross revenue, with a portion of that going to problem gambling, this will go to the General Fund.
Furthermore, the state’s casinos need the additional gambling revenue, having seen a massive drop in recent years due to competition from newer properties in Cincinnati and southern Michigan. Given the state’s proximity to several large cities, sports wagering is now available to more potential bettors, who are the real winners in this.