Sports Betting In Indiana Gains Approval From House, Returns to Senate For Further Debate

The situation regarding sports wagering in Indiana seems to be coming to the final stage with high chances of having a positive outcome. The House of Representatives has voted through the Bill allowing the legalization of this form of gambling as regulated. Bill SB552 is now returning to the Senate…

…for further discussion. As far as the statistic says, 78 Representatives voted in favor, whereas 15 were against. This led to a series of amendments in the recent period. Before the bill is put to Governor, Eric Holcomb, for ultimate approval, significant changes regarding legislation will take place.

Let’s Talk Fees

As far as the situation at this moment looks like, the state has less than two weeks to the bill into law. The reason for this is that the current legislative session runs to April 29th. The House Ways and Means Committee has made several amendments recently, among which is the measure to establish a 9.5% tax rate of sports wagering revenue. The tax mentioned in the bill’s language would refer to…

…the operators gaining the license to operate in Indiana. Although the initially proposed fee was $100,000, it went down to $10,000 (£7,640/€8,840). Following the positive example of many states and operators which put a special accent on problem gambling, 3.3% of the collected sports betting revenue would be used to treat this issue.

Positive Outcome With Terre Haute

The one in charge of regulating the Indiana market will be the Indiana Gaming Commission. The institution will also have the power to issue temporary licenses. Such permission would allow operators to deliver their products and services under clearly defined conditions and circumstances. In addition to this, the bill also features a measure…

…regarding the riverboat Casino in Gary. Provided that they are still interested in bringing the project into reality, or to be precise- move onto the land, they will have to pay a fee of $100m. As a result, they would acquire permission to open the venue in Terre Haute. This is very important, as the situation on this one encountered several obstacles lately.

Mobile Wagering Still Under Consideration

Though many details regarding sports wagering are more than thoroughly explained, still there are no clear hints about the situation referring to mobile wagering in Indiana. Last month, the State’s House Public Policy Committee removed the language which was…

…supposed to regulate and allow activities of that kind. Therefore, lawmakers will keep on working on the measures to legislate this form of entertainment and re-introduce the measures as soon as they come up with solutions. Until then, the bill waits for the final and official approval. Should that happen, the state would open its door to sports wagering on September 1st, 2019.

Source:

“Indiana betting bill heads to Senate after Hose approval”, igamingbusiness.com, April 16, 2019.