Indiana Sports Betting Set for September 1 Launch - Just in Time for NFL
Indiana residents are close to getting sports betting in the state.
The news comes at a time when there were worries that this wouldn’t happen before the tentative deadline.
As it turns out, legislators were able to meet that, and the launch is going to happen.
The state of Indiana issued emergency regulations, speeding up the whole process to make sure the deadline is met.
While the launch is set for that date, sports betting won’t come out in full force just yet.
That’s because the September 1 launch is for retail only.
Online sports betting in the state will have a longer wait.
But an important point is that the September 1 launch happens just in time for the 2019 NFL season.
An early September deadline therefore makes plenty of sense, as does the desire to meet it in time.
An Overall Look at Indiana’s Regulation Regarding Sports Betting
Indiana’s sports betting law passed earlier this year regulates both retail and mobile betting.
Goes without saying, but it’s a statewide regulation on both matters.
Mobile betting faced some obstacles over the course of the process.
This is one of the reasons why it’s facing a slight delay compared to retail.
It will likely come to Indiana too, although at a later date.
Now, let’s take a more specific look at some of the important points set by the new law.
Bettors must be 21 or older, the minimum age being enforced both online and at physical facilities.
Once mobile sports betting launches, it will only be allowed within the state’s lines.
Bettors must fill out registration, which can be done online.
In-person registration is available as well, but won’t be mandatory.
It will be possible to bet on all professional sports – national and international competitions.
However, it’s worth saying that it won’t be possible to bet on some events.
More specifically, placing bets on amateur competitions with athletes under the age of 18 won’t be allowed.
The law also establishes that it won’t be possible to bet on esports, including professional competitions.
Another important point is regarding official stats provided by the leagues.
Indiana law won’t enforce sports books to use official data from the sports leagues.
Of course, sports books are still free to strike individual deals to access this sort of information.
Vendors licenses are available for a US$100,000 initial fee, with a mandatory renewal yearly payment of US$ 50,000.
The tax rate is set at 9.5%, with 3.3% destined to help those with gambling problems.
What Possible Benefits Does Sports Betting Bring to Indiana?
The legal betting industry generates plenty of capital.
By signing sports betting into law, Indiana now could benefit from taxes.
Additionally, it also creates a new market, which naturally leads to jobs creation.
Governor Eric Holcomb (R) stated that modernizing the law would lead to a positive economic growth for Indiana.
According to Gov. Holcomb, the betting industry employs over 11,000 people in Hoosiers state.
Bettors in Indiana now have some additional motivation besides the NFL to look for once September comes.