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Legalized sports betting begins in Indiana

Sports betting is now available in Indiana after three of the state’s casinos debuted their sportsbooks on September 1.

Governor Eric Holcomb placed an inaugural bet at the Indiana Grand Racing & Casino in Shelbyville. Holcomb went with three $10 wagers – for the Colts to win the Super Bowl, for the Pacers to win the NBA Championship and for the Indiana Fever to win Sunday’s game against the Minnesota Lynx. The latter team lost 73-81 though.

Indiana’s top official signed into law a bill authorizing athletic wagering this past May. The Indiana Gaming Commission started accepting betting license applications on July 1. The regulator has authorized 13 sites – ten casinos and three off-track betting locations – to provide sports gambling services. Rest of the pack plan on offering sports betting by the end of September.

Indiana’s sports betting law allows the state’s casinos and off-track betting facilities to provide retail and digital betting services. They can take bets on major leagues such as the NFL, NBA, MLB, and NHL as well as on professional boxing, golf, soccer, tennis and less popular sporting events such as cricket, darts, and sailing. Indiana-based bettors can also wager on college sports.

Interested sports betting operators were required to pay an initial license fee of $100,000. They will also have to make annual payments of $50,000 to have their licenses renewed. Sports betting is taxed at 9.5% of gross revenue under Indiana’s gambling law. The gambling tax money will be allocated to the state’s general fund and t

The opening of Indiana’s first sportsbooks was right in time for the start of the new NFL season, which kicks off September 5.

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