Indiana Sports Betting Bill Handed to the State Governor

Both House and Senate of the state of Indiana went through a repackaged sports betting bill…

…so now Governor, Eric Holcomb, has the final call.

On April 24, House Bill 1015 got approved by the Senate with 37 votes in favor of it and 12 against it, while the House also approved it with 59 votes in favor and 36 against the bill.

More Details on the Bill

So, all that is left now is Governor Holcomb’s signature so that the Indiana bill can officially become approved and sports betting fully legalized in this state.

Lawmakers want to allow sports betting at Indiana casinos, racinos, and also off-track betting parlors.

As stated in the bill, placing bets on sports events would be permitted in-person, at licensed state venues, as well as via mobile but only inside the borders of Indiana.

The mobile part was actually removed by the House Public Policy Committee in March, although the bill’s co-sponsor Senator, Jon Ford, said that allowing mobile wagering was crucial.

The License Fees and Taxes

All licensed operators will have to pay taxes of 9.5% on their total sports betting revenue. There is also an option to pay taxes on a monthly basis…

…where 3.33% of the total taxable income will go to sports gambling addiction programs.

When it comes to the license fees, each operator that gets the permission to offer its services in Indiana would have to pay an initial fee of $100,000. Licensees would also have to pay an additional $50,000 fee each year.

If the bill gets the Governor’s approval, sports betting would officially launch on September 1 of this year. It would be allowed to place bets on professional collegiate sports events, while it won’t be allowed to wager on esports or amateur athletic contests featuring competitors under the age of 18.

Also, all Indiana consumers that wish to wager would have to be at least 21 if they want to bet on sports in this state.

Changes with the Current Casinos in the State

According to the bill, two riverboat casinos in Gary would be allowed to move onto land, but it would cost them $20 million each. Also, the construction of a new casino in Terre Haute would be permitted as well.

Since the bill HB1015 ed the Senate’s and House’s approval, that means that the previous version of it, bill SB552 came to an end.

Bill SB552 is similar to HB1015 when it comes to a tax rate of 9.5% on sports betting revenue…

…although in it, license fees came much lower, at $10,000.

The previous bill also mentioned that the Gary riverboat casino would need to pay a much higher fee of $100 million in order to move onto land.

Source:

“Repackaged Indiana sports betting bill heads to Governor”, igamingbusiness.com, April 25, 2019.