SportsBettingInIndiana.com

Legalized Sports Betting Nearly At Finish Line In Indiana

Daniel Borjas — Mon, 14 Dec 2020 17:35:56 +0000

INDIANAPOLIS – Legal sports wagering is nearly a reality in Indiana as the State Senate passed a sports betting bill on Tuesday.

Indiana’s Senate voted on IN SB 552 on Tuesday and it passed with a 38-11 vote. Thanks to that, the bill is now being moved to the House where they will soon cast their vote on the bill. The main two sponsors of the bill are senators Mark Messmer and Jon Ford.

“Senate Bill 552 is a once in a generation opportunity to reset the casino industry in Indiana,” Messmer said.

Unrestricted Mobile Sports Betting

The bill carefully lays out what will and will not be allowed in regards to sports betting in Indiana. One of the main points that the bill says is that mobile sports betting will be included when this bill passes. The legislation states that people who wish to use their mobile device to bet on sports can either go to a facility to register in-person, or they just use their smartphone to register their account without having to go anywhere.

This is important it will have a huge effect on how much revenue the state will receive from sports wagering. New Jersey is one of the few states that currently have mobile wagering. It is also one of the few states that allow you to use your mobile device to place your bets without having to be in a gaming facility.

Thanks to mobile wagering, handle that New Jersey has received on sports bets is much higher compared to other states. A report from the New Jersey Division of Gaming Enforcement showed that 80 percent of the taxable money received from sports betting came from mobile wagering. This is good news for Indiana because the bill is planning to take the same path that New Jersey took for mobile wagering.

Esports Are Off The Books

IN SB 552 also has some rules in place on what you can and cannot bet on. The bill does not allow for bettors to wager on amateur games or eSports. Lawmakers also reserve the right to restrict other kinds of bets. An example of this is the state can ban bookmakers from having odds on Major League Baseball Spring Training games. There are also no integrity fees for sports leagues.

Now that the bill has passed, it will move on to the House to be voted on. There could be some trouble because House Speaker Brian Bosma has said that he sees the measure as an expansion of gambling. It could be possible that he could stop the bill from receiving a vote or the legislation will have to go to a statewide ballot. If neither happens, sportsbooks will soon open in Indiana.

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Indiana Sports Betting Bill Now One Signature Away From Becoming Law

Hasan Nabulsi — Mon, 29 Apr 2019 15:50:27 +0000

The bill would allow sports betting in Indiana to be held at retail sportsbooks and through mobile sports wagering platforms.
Indiana Governor Eric Holcomb will have seven days to either sign the bill into law, veto it, let it pass without his signature.
The proposed legislation would also allow for the relocation of two riverboat casinos in the state.

INDIANAPOLIS – With only one signature left needed to legalize sports wagering in Indiana, sports fans from across the state are holding their breath.

Once the sports betting bill IN HB 1015 makes it on to Indiana Governor Eric Holcomb’s desk he will have seven days to either sign it into law, veto the measure, or let it become law without his signature.

The bill passed through the Senate by a voting margin of 37-12 and was then renamed in the State House and passed by a vote of 59-36 before being called into a special committee meeting between bipartisan members of the two chambers before the final version of the bill was approved.

The final version of the proposed legislation would approve sports betting on both collegiate and professional level sports as well as both retail and state-wide mobile sportsbooks.

Bettors would also have to be 21 years old or older and placing wagers on high-school games, esports, and virtual sports would be prohibited.

State lawmakers on both sides seem to agree on the provisions concerning sports betting in Indiana, however, this bill would change the entire gambling industry as a whole in the state.

In IN HB 1015, the state would approve horse racing tracks to start offering table games as early as January 1, 2020, and increases the number of casinos a gaming company can operate from two to six venues in total.

By doing so, Spectacle Entertainment would hold the greatest power over the gambling industry in the state and would be responsible for much of the tax revenue the state of Indiana would collect from any gambling activities.

Spectacle Entertainment owns the two Lake Michigan based casinos Majestic Star I and Majestic Star II. The bill would allow them to relocate one of the casinos to a more heavily trafficked area but give up their second license to Terre Haute.

Although, Spectacle Entertainment could simply bid later in order to win that license back. Also, by moving more inland, the relocated casino could potentially become the largest casino in the state and would be able to offer just as many gaming activities as it’s two riverboat casinos combined.

The main issue is that rather than taxing the new relocated casino as a single larger one, Spectacle would continue to be taxed as having two smaller ones which would save them millions.

This issue may hold Governor Holcomb back from approving the overall bill for sports betting in Indiana, but he has not yet issued a statement as to his intentions with it.

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Indiana Is Taking The Gamble On Sports Betting

Michael Molter — Thu, 25 Apr 2019 15:18:39 +0000

Mobile and retail sportsbooks would be permitted in the state.
Table games will be allowed in racinos starting in 2020.
Indiana joins Montana and Iowa, who are waiting for their governor’s signature.

INDIANAPOLIS – Approved by both the House and the Senate on Wednesday, the bill that would legalize sports betting in Indiana is only one signature away from becoming law.

HB 1015 is in transit to Governor Eric Holcomb’s office, where he will have one week to decide the state’s fate.

Amended multiple times, the inclusion of mobile wagering would allow Indiana sports bettors to place bets from anywhere within the state. Similar to New Jersey, both tourists and citizens of the Hoosier State would be able to create an account on the platforms.

Players would also have the option to visit one of the many riverboat casinos, racinos, and OTB locations, who can be licensed by the Indiana Gaming Commission (IGC) to legal offer sports wagering for an initial fee of $100,000. License renewals are 50% of the initial fee and must be paid yearly, along with a monthly 9.5% tax on the adjusted gross revenue.

Though college athletics would be safe to bet on, any high school athletics or esports are prohibited through the bill’s text. In play betting will also be given restrictions and guidelines that is solely up to the IGC.

The reason for the bill coming down to the wire was based on a few last minute agreements. Not only does HB 1015 permit sports betting, but it also authorizes the movement and addition of casinos in the state.

With the fear that existing casinos would feel the impact financially from the newly located gambling facilities, an agreement was reached by legislators to have payments granted to four cities.

Other parts of the bill included table games being permitted at horse tracks sooner than originally scheduled. Now 18 months sooner, the tracks will be able to brandish live dealers by the beginning of 2020.

Seven states have launched licensed sportsbooks since the repeal of PASPA nearly a year ago and Indiana could be the ninth state in the country with a legal sports betting industry, with the inclusion of Nevada.

Elsewhere around the country, Montana and Iowa have also approved measures and are awaiting a governor’s signature. New York and Arkansas are in the middle of finalizing the launch of their industry and many other states still continue to raise discussions.

It is expected that Indiana, Montana, and Iowa will become the next set of states to join the trend, making sports betting legal in over a quarter of the country.

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Mobile Betting Back In Indiana Sports Betting Bill

Daniel Borjas — Tue, 23 Apr 2019 17:21:35 +0000

Mobile sports wagering back in IN SB 552.
The finer details of the bill seem to have been worked out.
Sportsbooks expected to open before football season.

INDIANAPOLIS – Mobile sports betting was put back into a sports betting bill on Monday in Indiana.

The State House came together on Monday to propose one last round of amendments to IN SB 552. This allowed for mobile sports betting to have another chance in Indiana.

The Life Of Mobile Wagering

IN SB 552 originally started with mobile sports betting. The original bill went through the Senate without too many issues, and it passed with mobile sports betting intact. Once the bill moved toward the House, issues began to arise.

House Public Policy Committee Chairman Ben Smaltz almost killed the bill in its entirety. One of the main reasons is that he questioned the size of the black market for sports betting. Another is that he believed that someone who didn’t register for a sports betting account could end up using their friend's account, leading to underage gambling. The Committee ultimately amended the bill and removed mobile sports betting.

That has now changed thanks to new amendments. A conference was held between the chambers of Congress and mobile sports betting is back in the bill. If the bill were to pass as it is right now, mobile sports betting would be allowed to occur statewide in Indiana.

Other Sports Betting Details Hammered Out

Mobile sports betting isn’t the only detail that got finalized. The sports betting bill has also determined that there will be a 9.5 percent tax on sports betting revenue. Some of that money generated from sports betting will go into gambling addiction programs.

Not everything is going to be determined by the bill. Some rules and regulations will be decided by the Indiana Gaming Commission. In-play sports betting is also coming to Indiana as well. The details about how in-play betting will work will be determined by the Gaming Commission. But, IN SB 552 does seem like it will require for them to use official league data.

One Extra Hurdle To Clear

Indiana has a certain rule when it comes to changing state revenue. Since state revenue will be affected by sports betting, the House must approve of some provisions on their own. The House must pass IN HB 1015 which is a vehicle bill for these provisions.

Lawmakers are not expecting this to take very long though. The legislative session ends next week, but lawmakers are expecting to adjourn this Wednesday. These bills are expected to pass before lawmakers go to recess for this legislative session. Sportsbooks are expected to open before football season this year with sports betting in Indiana.

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Will Sports Betting In Indiana Be Ready To Go By September?

Michael Molter — Thu, 18 Apr 2019 17:25:37 +0000

SB552 would permit land-based sports betting at Indiana casinos.
The bill is expected to be approved by the Senate next week.
Indiana legislature is set to adjourn at the end of the month.

INDIANAPOLIS – As the Indiana legislative session inches closer towards the April 29 adjournment date, legislators seem focused on making legal sports betting enacted this year.

Though a recent amendment moved back the launch date from July 1 to September 1, it can only be assumed that amending the launch date means the lawmakers are close to making it happen.

IN SB552 was approved in the Senate’s Ways and Means Committee on Tuesday by a vote of 17-6 and now makes its way to the Senate Floor for approval. Upon passage, the bill would need to be agreed upon by the House in which it would venture to Governor Eric Holcomb’s desk for a final signature.

The House has been discussing their own sports betting bill as of late, but with the recent amendments made to SB552, it is likely they will focus on this measure instead, should they have the opportunity.

While already having removed an online betting option, some of the newest amendments included lowering the license fee for applicants, having the ability to hold a temporary license, and adjusting the tax revenue.

The bill originally asked for a $100,000 initial fee to have the ability to offer legal sports betting, but it has since been modified to only $10,000.

Additionally, the licensees have the ability to hold a temporary license as long as they follow a certain set of stipulations and guidelines.

Now with a 9.5% tax rate on adjusted gross revenue and over 3% of that tax contribution being allocated towards problem and addictive gambling, it fits in line with other sports betting bills around the country.

According to Representative Todd Huston (R- Fishers), the state could see upwards of $1 million a month being brought in from a legalized sports betting industry.

However, in the immediate, this number could greatly increase, as the state could poach neighboring gamblers, who have no legal sports betting option in their state.

“At the end of the day we want to be competitive with our neighboring states,” Huston said. “We want to see investments in Indiana, not in other states.”

Huston is a member of the House’s Ways and Means Committee, which is likely to oversee SB552 should it be approved by the Senate Floor.

Though the bill has not made it on a daily calendar yet, the Senate meets at 1:30 pm on Mondays, Tuesdays, Wednesdays, and Thursdays moving forward. In other words, they will have ample opportunities to make sure the September 1 launch date for sports betting in Indiana is met.

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Indiana House Votes No For Online Sports Betting Bill

Hasan Nabulsi — Tue, 16 Apr 2019 17:28:21 +0000

The Indiana House voted 78-15 for a bill that declines online sports betting.
Indiana previously agreed to permit online betting, discussions will follow later this month.
Sports betting confined to casinos may mean a big loss in tax revenue for the state.

INDIANAPOLIS - Sports betting in Indiana may be coming later this year due to a new sports betting bill introduced in January of this year, but the state has some other sports gambling issues to work out. The Indiana House has voted 78-15 for a bill that would decline online sports betting in the state.

SB 552 does not include any provisions on online sports betting. The bill would contain sports betting to casinos only.

Indiana previously supported online sports betting in a bill that was introduced in January of this year. HB 1363 would have authorized sports wagering in Indiana, including mobile/online wagering as well. This bill has yet to be passed into law or passed through the state legislature. The deadline to reach a middle ground on online sports betting is later this month.

Online sports betting in Indiana may have its fair share of a tussle to be made legal in the state. While sports betting has yet to be passed into law, it does not have the same warring sides as bills containing online sports betting. Whether this benefit or hurts the passage of a bill containing online sports gambling is unknown.

Three bills for sports betting in Indiana are inside the Indiana legislature. Including SB 439 which also deals with sports wagering. After the deadline later this month for lawmakers to come to an agreement on online betting, Indiana legislature may have its hands full with the passing of sports wagering.

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Mobile Wagering Removed From Indiana Sports Betting Bill

Daniel Borjas — Tue, 09 Apr 2019 17:31:03 +0000

IN SB 552 is heading to a House committee on Tuesday.
No plans to re-introduce mobile wagering to the bill during the meeting.
Senator Jon Ford wants mobile wagering will be back in before bill passes the House.

INDIANAPOLIS – Mobile wagering is still out of a sports betting bill heading to the House Ways and Means committee on Tuesday.

As IN SB 552 heads to the House committee on Tuesday, there are no plans to bringing back mobile wagering during the committee meeting.

Mobile Fight In Indiana

The original iteration of IN SB 552 had provisions that would allow people in Indiana to use their mobile device to place their bets. Senator Jon Ford who authored the bill said that having mobile wagering is necessary because it will help bring people out of black market sports betting.

But that part of the bill was removed by Public Policy Chairman Ben Smaltz. He said that he doesn’t see how having mobile sports betting would help reduce black market sports betting. Smaltz said that is especially true because he doesn’t believe that the black market is that big.

A report from the Indiana Gaming Commission said that between $50 billion and $60 billion is wagered through “illegal” channels. Ford said this report is proof enough that there is a large black market in Indiana for sports betting.

Ford believes that there is still a chance for mobile wagering to make a comeback. He thinks that there are plenty of representatives in the House that see the necessity of having mobile sports betting in Indiana.

Other Changes

Mobile sports betting was not the only change that IN SB 552 has been through. The original bill said that live betting odds were going to be dictated by official league data. That part of the bill has also been removed. Ford doesn’t expect that part to make it back in the bill.

One of the things that are going to be added to the bill is what the tax rate will be for Indiana sports betting. This will be an important step because if it’s too high, people might go to other channels for sports wagering. This will be decided on Tuesday in the Ways and Means Committee.

Ford is still feeling positive about sports betting in Indiana. He fully believes that sports betting will be legalized in Indiana despite the disagreements with mobile betting. There isn’t a lot of time left to pass the bill. The legislative session is expected to end April 25 in Indiana, leaving less than a month to pass the sports betting bill.

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Indiana Sports Betting Bill Moves Forward

Daniel Borjas — Fri, 08 Feb 2019 17:36:22 +0000

Indianapolis, IN - Though there are still additional hurdles to clear, sports betting in Indiana is one step closer to becoming a reality with the advancement of a new sports betting bill.

On Wednesday, the Indiana Senate Public Policy Committee voted unanimously to pass IN SB 552. IN SB 552 is a comprehensive piece of legislation that will not only allow wagering on sports to become legal in the state but can also potentially change existing gambling options in Indiana.

What’s Inside IN SB 552

Right now, there are two casinos in the town of Gary. Part of what IN SB 552 would do is it would move one of the casinos to Terre Haute and move the other one to Gary’s lakefront.

The bill also would remove the limit of two casino licenses per owner, which would allow for more casinos to set up shop in the state. Being that the proposed legislation aims to allow sportsbooks to be opened all across the state, that means there is potential for many different land-based sports gambling operations to be opened in the state.

SB 552 would also allow for Indiana’s many riverboat casinos to move their operations on land. This new piece of legislation could potentially have a big impact on the state, particularly in northern Indiana.

The Potential Impact Of SB 552

If multiple casinos are opened throughout Indiana and they are taxed by the government, revenue is expected to dramatically increase for the state. The goal that lawmakers are aiming for with this bill is that sports wagering would drive tourism to the state of Indiana rather than surrounding states such as Illinois. So instead of losing potential tourists to Chicago, which is only 40 minutes away from Gary, the new casinos would keep the profits in-state.

The bill still has a long way to go before it becomes law now that it has passed the subcommittee.

First, it has to pass the Senate Appropriations committee before it goes to the full Senate. After that, it needs to pass there and then it must also pass in the House before the governor can sign it into law.

But momentum is on the side of the bill, so it’s feasible that sports betting in Indiana could come later this year or early next.

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Indiana Issues Its First Three Fantasy Sports Licenses

Sierra Kennedy — Wed, 05 Jul 2017 17:38:28 +0000

The first three state licenses have been issued to fantasy sports operators that will provide their paid-entry contests to sports fans in Indiana.

The IGC Approves DFS Licenses

In order to legally accept payments from Hoosiers, DraftKings, FanDuel, and Fantasy Draft all applied for licenses as required by the Indiana Gaming Commission (IGC) under Indiana SB No. 339. For a one-year license, the DFS operators were required to pay $50,000 upfront with a $5,000 annual renewal fee. As of Friday, there are still thirteen other operators that initially showed interest in obtaining licensure but ultimately opted out. The sites were permitted to offer their services under a temporary agreement arranged with the gaming authority, however they will have to pull out of the Indiana market by Saturday. “I should note that we have been communicating with these parties for quite some time, that information has been posted on our website,” said Sara Tait, Indiana Gaming Commissioner Executive Director. “So every party should have plenty of notice that they should cease operations in Indiana effective July 1.”In a situation where an Indiana resident enters a paid fantasy sports contest with an unlicensed operator, the Indiana Gaming Commission would not seek charges against the player. Serving only as a regulatory body, any gambling activity deemed as “illegal” would be handled by local prosecutors.

Inside Indiana Senate Bill 339

Indiana was one of the first states to pass fantasy sports regulations in 2016. Indiana Senate Bill 339 was signed by then-Governor Mike Pence on March 24th of last year and provided the complete regulatory framework for fantasy sports contests within the state. Here are a few highlights of the law:

Fantasy sports are defined as a game of skill.
Contests on high school and collegiate sports are prohibited.
The minimum age to enter a fantasy sports contest is 18 years old, and operators must have verification procedures.
The fantasy sports sites must be audited annually

Certain consumer protections such as the separation of player funds from operational monies, allowing participants to block themselves from playing, and barring immediate family members of employees from entering contests at sites for sports betting in Indiana were also included in the law.

Will The FanDuel/DraftKings Merger Effect Licensure?

Last year, FanDuel and DraftKings announced that they had entered into a merger agreement that was set to be finalized by the end of 2017. The reason behind the union of the two biggest DFS operators was initially unclear when their intentions became known to the public. However, after their 2016 losses were leaked in a report by Axios, it became abundantly clear that the merger was driven by finances. Together, the two companies had a reported loss of $151 million.

Combining forces has been put on hold by an ongoing investigation by the Federal Trade Commission (FTC) and the Attorneys General in the State of California and the District of Columbia. The FTC announced that they would be challenging the merger, arguing that if the two operators combine they would control more than 90% of the daily fantasy sports market in the United States.

Fortunately, the pending legal action against the two DFS leaders will not impact their standing in the Indiana daily fantasy sports market.

"We would each be operating as independent contractors...," stated Cory Fox, Counsel for Policy and Governmental Affairs at FanDuel. "If at some later date there's a possibility of a merger, we definitely would be in touch and discuss it with you at that point."

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