Indiana Not Expecting A Sep 1 Launch, Heads To New Jersey For Sports Betting Help

• Licensing fees include a $100,000 application fee as well as a $50,000 annual renewal.
• Sports betting revenue will be taxed at a rate of 9.5% and head to the state’s general fund.
• Licensed sportsbooks will be given the option to partner with three suppliers, or skins.

INDIANAPOLIS – There is only one month between now and when the Indiana Gaming Commission (IGC) will begin accepting applications from gambling facilities to offer sports betting.

According to the President and CEO of the Casino Association of Indiana, Matt Bell, there are not any casinos, racinos, or off-track betting locations that are considering withholding from submitting the necessary paperwork.

When the venues are approved, they will be able to offer sports betting as early as September 1. However, with the number of incoming applications and the regulations still needing to be set, the IGC firmly believes that this launch date will be a difficult one to guarantee.

“We are making no promises, said Sara Gonso Tai, the IGC’s executive director. “It is a goal we are striving to reach.”

To get ahead of the game, Tate and a handful of workers from the IGC will take a trip to New Jersey. They plan on learning from one of the largest sports betting markets just exactly how every detail plays out leading up to the launch.

“[Our focuses will be] submitting applications, creating internal control procedures, hiring and training new staff, and entering into agreements for data,” said Tait.

According to Tait, the IGC is already working on formalizing the application for the gambling facilities but the implementation of mobile betting may face further hurdles.

As in other states, it is likely Indiana first launches land-based sports betting before moving onto the mobile sports betting testing and regulations.

Sports betting became legal in Indiana when Governor Holcomb signed the sports betting bill that was on his desk earlier in May.

Under Indiana HB 1015, betting on professional and collegiate sporting events would be permitted while any action on amateur athletics, high school events, and esports are strictly prohibited.

Any person 21-and-older would be able to participate, whether they decide to bet at a sports betting lounge or remotely from their mobile device.

According to Dennis Mullen, the IGC’s deputy general counsel, the geofencing technology that would prohibit bettors from outside the state of Indiana to use the mobile betting platform has already begun development. It is expected that this will be finalized before August, which is when the commission’s next meeting takes place.

News tags: IN HB 1015 | Indiana | New Jersey