Indiana has become the 10th US state to allow sports betting since the ban on it was lifted last year.
And that’s official. Indiana Governor Eric Holcomb made it so late last week when he signed House Bill 1015. The bill will enable punters aged 21 or older to make wagers within the state lines via Casinos or online.
Two new Casinos where sports betting will be available have been authorized. Plans are to set them up on race course venues near Indianapolis by early 2020.
In the meantime, sports wagering is set to begin in Indiana sometime in September. As is the case in New Jersey, wagering on college sport, however, will continue to be illegal.
Indiana is following the lead set almost a year ago by New Jersey.
New Jersey was quickest off the Mark
The Garden State was ready and waiting when the Supreme Court ruled for sports betting last May. A month later, Governor Phil Murphy signed it into New Jersey law and then placed the state’s first legal wager.
He bet $20 on Germany winning the World Football Cup and $20 on the Devils winning the Stanley Cup at Monmouth Park.
Since then at least 10 sportsbooks have successfully opened their doors in New Jersey and more are coming. After just 10 months they had already taken $2.2 billion worth of bets, mostly via the internet.
Gov Holcomb believes legal betting in Indiana will bring in new revenue and new jobs. It will also provide competition for illegal off-shore sportsbooks
He told AP: “Gaming is a highly regulated industry that once had little competition. It now does from surrounding states and new technology. By modernizing our laws, this legislation will spur positive economic growth. It will do so both for our state and for an industry employing over 11,000 Hoosiers.”
Sports betting will “create hundreds of new jobs”
“Additionally, it will bring in new revenue and create hundreds of new jobs, both permanent and in construction.
“I will direct the Indiana Gaming Commission to monitor for potential effects of this bill so that we can make necessary changes in future legislative sessions.”
Tax for sports betting in Indiana has been set at 9.5 percent. The authorities hope this will bring $12m annually into the state’s coffers.
States, where sports betting is now legal, include Nevada, New Jersey, Pennsylvania, Rhode Island, West Virginia, Delaware, Mississippi, New Mexico, and Montana.
Montana just pipped Indiana last week when it became the first state this year to join the sports betting business. Tennessee and Iowa are expected to be the next to take the step.
