How Will the New Sports Betting Law Work in Indiana
Closer Look at Indiana’s Sports Betting Law
Even though sports betting is legal in Indiana as soon as September 1st, state regulators, who have yet to start accepting applications from operators, have said that the state might not be ready.
On July 1st, the Indiana Gaming Commission opens their doors to applications from casinos, horse-racing casinos and off-track betting establishment that wish to conduct sports betting.
“We want to do this as quickly as we can, but we want to do it responsibly,” said Sara Gonso Tait, executive director of the Indiana Gaming Commission.
Although the commission is warning that physical betting locations might not be ready, it is possible that an app could make the deadline.
So when the smoke clears and the licenses are granted, the state-approved operators will begin to take legal wagering, but what will that look like for bettors?
What Will Indiana Betting Look Like at Launch?
On September 1st (or soon after), Indiana will open their doors to legal gambling.
We know that to bet in Indiana you will have to be over 21 years of age to bet on professional and college sporting events from within the state.
Residents will not have the opportunity to bet on high school sports, youth sporting events and e-sports as those three areas have been outlawed by the Indiana legislation.
Bettors will have the opportunity to set up accounts at the casinos and racetracks to bet online through mobile applications.
The same holds true for brick and mortar establishments where a bettor can make a traditional cash bet that results in the receipt of a ticket that can be cashed in if the bet wins.
At the physical locations, bettors will be greeted by the traditional window with a teller to place the bet or they can use a kiosk at a sports betting lounge located inside the facility.
What is the Biggest Hurdle for Operators to Meet the September 1st Opening?
Filing the paperwork with the Gaming Commission might be the easiest thing that operators do in the weeks before September 1st.
Establishments must find partnerships with vendors, train and hire staff to facilitate the wagering, and create a physical sportsbook that meets the standards of the Gaming Commission.
Operators will also have to create a workflow to accommodate the early flood of bettors that want to set up an account.
That said, in Indiana, bettors can create betting accounts either online or in brick and mortar casinos and racetracks.
Also for residents that want to be excluded from betting citing a gambling addiction, the state will offer programs where an individual can put themselves on a “no-bet” list.
The list will prevent them from opening a betting account in Indiana.
Economic Impact of Sports Betting in Indiana
In October 2018, a California gaming research firm came to the conclusion that sports betting in Indiana will generate roughly $1.7 billion in “direct and indirect economic impact.”
The study also stated that “mobile sports betting represents more than half of the total revenue potential of the Indiana market.”
After seeing early returns from New Jersey, it is not hard to envision a day that Indiana isn’t pulling in hundreds of millions of dollars from mobile betting.