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Regulators in the state of Indiana have begun to tell operators that will offer sports betting to be ready for a September 1st launch date.
The date of Sept. 1st marks the first day that sports betting is legal in Indiana under their new sports wagering law.
The push to make the date comes as a bit of a surprise, but regulators want operators to take advantage of the start of the NFL season to maximize revenue.
On Tuesday, the state issued a series of emergency regulations to expedite the process and establish guidelines for operators to follow.
The regulations released followed Indiana’s sports betting law quite closely, including the offering of statewide mobile betting for residents.
Other regulations include no wagering on eSports or amateur athletes under the age of 18.
Indiana will tax 9.5% of the adjusted gross with a slice of the pie going to help problem gamblers who are having issues with their addiction.
The state also is leaving the limit on in-play betting and the restrictions on data sources to the judgment of the Indiana Gaming Commission.
Finally, vendors will pay an initial $100,000 fee, followed by annual payments of $50,000 to the state.
Missing from the final guidelines is a requirement by operators to use official league data for their final results.
Although the requirement is missing, the language in the rules state that the final decision is up to the Indiana Gaming Commission, who could ultimately force operators to use the data.
Just because there is no stated requirement does not mean that an operator and sports league cannot agree to a partnership that utilizes the data for a fee.
Aside from the integrity fees, one of the biggest questions remaining for Indiana is the possibility that restricts betting at events via mobile device.
The NCAA, based in Indianapolis, or a professional sports league could petition the Indiana Gaming Commission to disallow bets at arenas holding their events.
Bettors looking make a wager on their mobile app inside a restricted event will find themselves in “dead zones” via geolocation and unable to place the bet.
According to the guidelines, the IGC will make a decision if there is a request that meets one of three standards.
Perhaps the most accessible standard is, “information indicating a specific and credible threat to the integrity of sports wagering at the particular location.”
Then, the threat must be assessed to be “beyond the control of the sports governing body to preemptively remedy or mitigate.”
If a threat is deemed credible, then the IGC will convene and make a final decision on the matter, meaning it could be a tough uphill climb to restrict betting in arenas.
The next step for Indiana is getting through a public comment period that last until August 1st.
If there are no objections to the guidelines, then the IGC will adopt the regulations into law.
For sportsbooks that obtain a license from the IGC, they will be able to offer sports betting on the first day allowed, Sept. 1st.
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