Indiana Grants Licenses to Offer Sports Betting Starting September 1st

As an increasing number of states in the US expresses a positive attitude towards the official acceptance of sports wagering, more and more content distributors show interest in offering their services to new consumers. The last one to welcome this activity is Indiana.

According to the plan, the launch of sports betting should take place on September 1st. More than a handful of Indiana casino companies have been granted temporary certificates to offer this form of gaming in the state.

Adjustments in Process

Having in mind that this state…

…has 6.37 million residents, the fact that it opened the doors towards sports betting will result in quite a noteworthy financial contribution to the US market in general. Though the Indiana Gaming Commission (IGC) already approved some companies, still there’s a lot of work to do before they can allow bets.

Those include some internal controls procedures, house rules and the results of certification testing. Depending on the current individual situation, some land-based venues or online operators will be eligible to offer bets in early September, but others may not be ready.

GAN s the Idea

Award-winning developer and supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the US and Europe, GAN plc…

…is among companies which agreed with the idea of legalization of sports betting in Indiana. As far as the company believes, they have the capacity to meet the demands of the large market.

Details on the Bill

The Bill (HB1015) which regulates the sports betting in the state…

…was voted in May. Besides sports betting, it will also allow in-person and mobile wagering on sports events in casinos, racinos, and off-track betting venues.

This means that despite certain obstacles…

… Terre Haute remains in the bill. The bill also sees two riverboat casinos in Gary allowed to move onto land, but it would cost them $20 million each. The previous version of the proposal also mentioned that the Gary riverboat casino would need to pay a much higher fee of $100 million in order to move onto land.

As for the taxes…

… all certified suppliers will have to pay a 9.5% tax rate on their gross revenue coming from sports wagering, with the opportunity to pay it monthly. The initial fee will be $100.000 and each year they will have to pay an additional amount of $50.000.

There are also certain suggestions regarding the age limits, as the protection of the minors has become one of the most important initiatives not only in Indiana but industry-wide. Only consumers who are at least 21 years old will be allowed to participate in this form of entertainment.

Source:

“Indiana Plans to Launch Sports Betting on September 1”, Niji Narayan, europeangaming.eu, August 9, 2019.