Sports Betting in Indiana to Launch on September 1st
Regulators and operators in Indiana hope to open their sports betting operations on the first day permissible under the new state law. While it might seem like a rush, regulators want operators to be up and running in order to take advantage of the start of the NFL season in order to bring in as much revenue as possible. Right before the holiday, lawmakers issued some emergency regulations in order to speed up the process and get guidelines established for operators to follow and enforce.
The regulations are very similar to the state’s sports betting law, including the part that allows mobile betting across the state for residents and visitors.
Some of the regulations include:
- There will be no betting allowed on eSports or amateur athletes under the age of 18.
- The tax rate is set to 9.5 percent of the adjusted gross.
- A portion of tax revenue will be directed to help with gambling addiction.
- The Indiana Gaming Commission will set the limit on in-play betting.
- Vendors will initially pay $100,000 to the state, with yearly payments following in the amount of $50,000.
Potential Issues with the New Law
The final guidelines lack a requirement by operators to use official league data; however, the rules say that the final choice is up to the Indiana Gaming Commission. So far, only two states require integrity fees: Illinois and Tennessee.
The NCAA or any pro sports leagues could potentially petition the Gaming Commission to prohibit bets at arenas holding their events, so that brings into question whether mobile betting will actually be allowed state-wide.
Next Steps for Indiana
Indiana’s sports betting will still have to get through a public comment period that runs until August 1st. If nobody objects to the guidelines, the IGC will adopt them into law. Any sportsbook that obtains a license will be able to offer sports betting on September 1st. The NFL season starts on September 5th while the NCAAF football season starts on August 24th.
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