Indiana Lawmakers Clarify New Sports Betting Laws
This week, state gaming officials in Indiana released the full list of sports that fans will be able to wager on. This comes two and a half months after the state passed a new gaming law that allows for sports betting, following a lifting of the federal ban on sports betting outside of Nevada. That ban was lifted in May 2018 when the Supreme Court overturned PASPA, ruling it unconstitutional.
Bettors will be able to wager on baseball, football, and basketball,as expected, but the list allows a whole bunch of other less popular sports like boxing, darts, and the Pro Bowling Tour.
Some of the other, more popular sports events to bet on include:
- NASCAR, Formula One, and IndyCar racing
- Summer and Winter Olympics
- Division I collegiate sports
- Pro golf
While the law allows for legal sports betting as of September 1st, state regulators called it a “very aggressive timeline” and are unsure of their ability to meet the deadline.
Sports Betting Law in Indiana
In May, Governor Eric Holcomb signed the Indiana sports gambling bill into law and operators plan to launch retail sports gambling by September 1st, 2019. Since the NFL starts just four days later, Indiana sports gambling operators would be in a great position to take advantage of the most popular sport to bet on.
The law restricts sports betting to state racinos, off-track betting shops, and casinos at this time. Mobile sports betting will come later since it was included in the law, but not for the September 1st deadline.
Other notable information included in the wording of the law:
- A one-time fee of $100,000 for a vendor license
- Yearly renewal fees of $50,000
- State-wide mobile sports gambling
- Restrictions on data sources left up to the Indiana Gaming Commission
- Limits on in-play betting
- A tax rate of 9.5% of adjusted gross revenue
- A portion of tax revenue will go to problem gambling
- No wagering on amateur athletes under 18
- No wagering on esports
The regulations, which were released July 2nd, left out any requirement to use official league data. Instead, legislators left that up to the Indiana Gaming Commission, which drew up the regulations.
The commission didn’t want to force operators to use league data; however, operators and leagues are free to come to commercial agreements on data sales.
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