Full House Partners Up With Wynn
Nevada-based Full House Resorts is going all in on the Indiana and Colorado sports betting…read more
Sports betting is now live in the state of Indiana and bettors in the Hoosier State can either bet in person at any of the state’s authorized casinos or on their mobile device, wherever they are in the Hoosier State.
It was all made possible by the Supreme Court’s decision in May 2019 to strike down a federal law (PASPA) that prohibited sports betting, deeming it unconstitutional in a 6-3 decision.
That federal law had essentially limited sports betting to one state – Nevada – for 25 years and lawmakers in several states have since seized the opportunity to legalize activities, giving bettors a safer alternative to shady offshore books – and bring in some much needed tax revenue of course.
State Governor Eric Holcomb signed the Indiana sports betting bill into law on May 8, 2019, and the Hollywood Casino Lawrenceburg was the first casino to open the doors to its sportsbook on September 1 – 13 more have since followed suit and below is a full list.
Under state law and regulations set by the Indiana Gaming Commission (IGC), each of the above land-based properties can partner with third party providers to operate up to three online sportsbooks – the industry term for these is “skins”.
The big advantage for the casinos is that they don’t have to build a sportsbook from scratch, while the operators benefit from getting a foothold in the state to grow their brand and revenue via dedicated gambling apps.
Bettors also win as they have plenty of choice over where to place their bets and the competition among operators ensures that they offer competitive lines, welcome bonuses and other promotions.
Such familiar names as FanDuel and DraftKings are expected to be big players in the state of Indiana. The pair of fantasy heavyweights are already dominating the market in New Jersey, where 85 per cent of betting originates online. That they already possess significant user bases for DFS gives them a head start over other operators.
That hasn’t deterred other entrants into the online market, though, and it’s not hard to envisage a situation in the near future when Indiana bettors have as much choice as those in the Garden State, where as many as 16 mobile/online sportsbooks are now operating with more on the way. Many of these already have long-term partnerships with the parent companies of Indiana casinos.
Partnered with: Blue Chip Casino and Belterra Casino Resort.
Partnered with Caesars Entertainment and Penn National, which both run at least two casinos in Indiana.
Partnered with: Horseshoe Hammond.
Partnered with Penn National.
Partnered with: Tropicana Evansville.
SugarHouse/Rush Street Interactive
Partnered with: French Lick Resort
Two entry points into the market via deals with Eldorado Resorts (who run Tropicana Evansville) and Penn National (Hollywood Casino Lawrenceburg).
Partnered with Penn National.
A total of 19 different sports have been approved by the IGC for wagering, and they include the following:
Unlike in some states, there are no restrictions on betting on collegiate sports, despite efforts to block this by the NCAA, so none of the following state college teams are off limits to bettors:
The only sports you can’t bet on are E-sports and anything involving amateur athletes under the age of 18. Another area that is not allowed to be wagered on is In-play prop betting on NCAA sports is not allowed either under IGC rules and regulations.
This is very much down to the individual operators as they will all have slightly different offerings, but all will have the following available or else lose bettors to competitors:
Essentially anyone aged 21 or older and physically located inside the state of Indiana, with sportsbooks using geo-locating technology (essentially a combination of IP and WiFi data) to pinpoint your exact location.
The age requirement is pretty standard in the US among early-adopting states (Rhode Island being the only exception at 18) and anyone who attempts to create an account – either retail or online – will have to prove it in the form of ID.
The fact you only need two feet inside the state is good news for non-residents and many have been taking advantage since the launch of betting.
Indeed, those Indiana casinos that are located close to the border have seen increased business from neighboring states, with parking lots dotted with number plates from the likes of Illinois and Michigan and jammed sportsbooks.
Indiana online sportsbooks are geared up to offer a number of mainstream depositing and withdrawal methods, including:
There would have to be a further change in the law to allow this as the 2019 gambling bill only legalized sports betting. Watch this space for further updates on legalized poker in Indiana.
Lawmakers set the tax rate on adjusted gross sports betting revenue at just 9.5%, which is a friendly rate to operators, who consider anything around 10% to be workable. Only Nevada is lower at 6.75% and it’s as high as 36% and 51% in Pennsylvania and Rhode Island respectively.
The fees for an operator license are also reasonable at $100,000, with a $50,000 annual renewal fee.
That should ensure plenty of healthy competition among operators and the revenue collected will go to the state’s general fund for education, prisons, health care, state parks and more.
Hopefully, that’s covered any questions you might have relating to online/mobile sports betting in Indiana – but feel free to hit us up with anything you like on Twitter or get in touch.