Indiana Governor Finally Signs Sports Betting Bill

The US state of Indiana has finally legalized sports betting under its jurisdiction and by doing so, has become the 10th state in America to fully legalize this type of gambling.

After getting the necessary approvals from both the Senate and the House, the only thing left was the approval of Governor, Eric Holcomb…

…who officially signed the bill.

So, Indiana House Bill 1015, that will come into effect from September 1 of this year, will allow in-person and mobile wagering on sports events in casinos, racinos, and off-track betting venues.

More Details on the Bill

As stated in the bill HB1015, all licensed Indiana operators will have to pay 9.5% tax rate on their gross revenue coming from sports betting…

…and they will have the opportunity to pay it on a monthly basis.

When it comes to the licenses, each operator would have to pay an initial fee of $100.000 and each year an additional $50.000.

It will be allowed to place wagers on a wide range of both professional and collegiate sports events, but it won’t be permitted to bet on esports or amateur athletic contests that feature competitors under the age of 18.

Also, each consumer that wants to place his bets in Indiana must be at least 21 in order to participate in this form of gambling.

A Word from the Governor

Indiana Governor, Eric Holcomb, said that he is very excited about the new bill because it will not only bring additional tax income that would boost Indiana’s economy…

…but will also bring more job opportunities to the citizens of Indiana.

“Gaming is a highly regulated industry that once had little competition, but now does from surrounding states and new technology,” Holcomb said in his official report.

“By modernizing our laws, this legislation will spur positive economic growth for our state and for an industry that employs over 11,000 Hoosiers.”

“Additionally, it will bring in new revenue and create hundreds of new jobs – both permanent and in construction,” he explained.

Additional Changes in the Future

Holcomb added that the bill will probably go through more changes in the future, but it all depends on its success during the first few months.

Indiana Gaming Commission will be in charge of monitoring the gambling activity as an official regulatory body…

…but will also observe its development and decide whether or not the changes are necessary.

Similarly, the part regarding mobile wagering has been removed from the bill by the House Public Policy Committee back in March, but it was brought back into the bill a little bit later.

Back at the time, co-sponsor of the bill, Senator Jon Ford, said that he believes permitting the placement of wagers via mobile was somewhat crucial to the bill’s success.

In the bill, it is also mentioned that two riverboat casinos in Gary are allowed to relocate on the land, but it would cost them $20 million each. Also, a new casino would be permitted to open in Terre Haute.

Source:

“Indiana Governor signs sports betting bill into law”, Rob Fletcher, igbnorthamerica.com, May 9, 2019.