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.