Indiana Governor signs sports betting bill and boosts state gambling
Also approved are 2 Gary riverboat casinos to relocate on land and one new casino for Terre Haute
Indiana is the second state this week to legalise sports wagering, following in the footsteps of Montana, writes Rob Fletcher for IGB North America. The state became the latest state to legalise sports betting after Governor Eric Holcomb signed off on House Bill 1015.
The bill, which permits wagering both in-person at licensed Indiana state casinos, racinos and off-track betting parlours, as well as on mobile from anywhere inside Indiana’s borders, was passed by both the House and Senate last month, HB1015 includes a tax rate of 9.5% on the adjusted gross receipts from sports betting, payable on a monthly basis. Licences will cost an initial US$100,000 and come into effect from September 1.
Betting will be permitted across a range of professional and collegiate sports event, but punters will not be able to wager on esports or amateur athletic contests featuring competitors under the age of 18. Consumers must be at least 21 to bet on sports.
Governor Holcomb said that, “additional tax income from legal sports betting will help to boost Indiana’s economy. Gaming is a highly regulated industry that once had little competition, but now does from surrounding states and new technology, and 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.”
Holcomb hinted that more changes could be made to the bill, depending on its initial success. He has instructed the Indiana Gaming Commission to monitor the impact of the legislation in order to make any necessary changes in future.
Other measures outlined in HB1015 include an allowance for two riverboat casinos in Gary to relocate onto land, at a cost of US$20 million each, payable to the Indiana Gaming Commission. A new casino would also be permitted to open in Terre Haute.
