The state of Indiana will finally get the legalized sports betting they have been waiting for. On Sunday, the first bets will be placed at the Indiana Grand Racing and Casino in Shelbyville, making Indiana the 13th state to offer legalized sports betting.
“It’s absolutely amazing,’ said Rod Baumann, Indiana Grand’s general manager. “I can’t tell you how excited we are to be the very first sportsbook to open up in the state of Indiana. It opens up our facilities or mini’s to a brand new customer, and we are looking to take care of people who we have not seen before, and we are really excited that they get a chance to come in here and not just wager on sports, but enjoy our restaurants, enjoy the bar, the shows we have to offer.”
Wait Is Over
Starting Sunday, sports wagering will be allowed online or at brick-and-mortar shops like casinos or one of the three off-track facilities such as the Winner’s Circle in Indianapolis, which will start accepting bets on Tuesday.
“We’ve had a lot of folks express some interest on being able to place sports – pretty much since this hit the legislation,” said Winner’s Circle manager David Doyle. “So, now that the bill has passed, excitement is really building up.”
In the state of Indiana, bettors must be at least 21 years of age in order to place a wager. Indiana will allow casinos to take wagers on a number of professional, collegiate and international events, including football, basketball, baseball, auto racing, boxing, golf, hockey, and Olympic events.
No betting will be allowed on youth, high school or e-sports events.
Prospective bettors will need to register and prove their age with a casino before being able to use one of the mobile wagering apps. The online apps use geofencing technology to ensure bets are placed within the state’s borders, meaning anyone from out of the state would need to cross into Indiana in order to use the app on their cellphone.
“Sports wagering has been out there for years in a different market, and it brings to light and into a legitimate market where revenues and taxes are retrieved,” said Baumann.
Mobile Income
Having the mobile betting function is a huge deal for Indiana. New Jersey is the best case study thus far, as about 80 percent of its $3 billion revenue came via that method. Not to mention, residents of nearby New York City are simply able to cross the border and use the app that way.
Until sports betting is actually taking place in Illinois, neighboring Indiana should expect an increase in business – especially at the beginning of NFL season. Illinois, which has a much bigger population, will certainly make up for a lot of the revenue coming their way early on.
An Indiana legislative reports projected the state to collect about $13 million per year in revenue from its 9.5 percent tax on the casinos’ winning sports bets.
