Since Indiana sports betting became legal in September 2019, sports betting has been a massive success for the state of Indiana. In the first four months of legal wagering, the Hoosier state saw a handle of $436 million dollars.
Broken down further, $41.4 million dollars was eligible for taxation and the state ended up with $3.7 million dollars based on their 9.5% tax rate.
The timing of Indiana’s sports betting launch ended up being a fantastic decision as lawmakers rolled it out at the beginning of the NFL and College Football seasons. Not only did residents of the state rush to place wagers, but the numbers grew each month.
According to stats from the Indiana Gaming Commission, gamblers wagered the following amounts over the first four months of legalized sports betting:
$35.2 million in September
$91.7 million in October
$147.3 million in November
$161.8 million in December
Why Was Indiana so Successful Within the First Four Months?
Football is the most popular sport to wager on in general. That trend held true with Hoosiers as they wagered $178.6 million dollars on professional and college football, which furthered to prove that it was a genius move to launch sports betting at the start of the NFL season.
Additionally, the NBA season started in October and residents wagered $82 million dollars over the next few months. The MLB Playoffs and the World Series helped net a handle of $14 million dollars.
These three major sports, along with other factors like the implementation of online and mobile betting played a massive part in a staggering handle that has sports betting proponents within the state celebrating.
Mobile betting went online in September and it made Indiana just one of only three states in the USA to offer this type of betting alongside Pennsylvania and New Jersey. Approximately 68 percent of Indiana’s bettors place their wagers on their mobile devices.
Indiana is on pace to earn over $11 million dollars in tax revenue from sports betting in its first year. State Senator Ron Alting is proposing a bill to allocate that money toward education, specifically for teacher pay raises:
“Will it solve the whole problem for increasing teacher salaries? Obviously not. But it’s a start in the right direction.”
As the NFL season draws closer to the Super Bowl, Indiana has approved different prop bets for the biggest sports betting event of the year. These wagers aren’t even offered in Nevada. It wouldn’t be a surprise if the handle increased for January due to the Super Bowl.
Sports Betting in Indiana
In May 2018 the Supreme Court overruled PASPA, the Professional and Amateur Sorts Protection Act of 1992 as being unconstitutional. This meant that each individual state had the option to legalize and launch sports betting at their own leisure.
While some states jumped on the option right away, Indiana held back for a year before Governor Eric Holcomb singed the bill legalizing the activity in the state. As of September, Indiana was the 13th state to offer legal sports betting.
Currently, Indiana has four online sportsbooks: FanDuel, BetAmerica, DraftKings, and BetRivers. Others are expected to launch in 2020. Pundits believe that online betting could surpass the 80% threshold in the Hoosier state.
As a longtime freelance writer, avid sports fan, former athlete, and experienced sports bettor, Rick Rockwell has risen up the ranks at GamblingSites.org to become the self-professed "King of the Blog" in his first year with the site. ...
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