Indiana Sports Betting Bill Signed

Last updated on March 31st, 2020 at 08:34 pm

Indiana Sports Betting Bill SignedIn the latest gambling industry news, Indiana’s bill on sports betting is now signed by Governor Eric Holcomb. Learning how to be a bookie is more popular now than ever, as the market of sports betting continues to grow in the US. betting software is one tool that can help bookies make their own sportsbook easily. Especially since online sports betting is gaining popularity across the country.

Indiana, for instance, will be the second state to legalize sports betting in this year alone. Montana was the first for 2019. Tennessee will follow suit soon, with Iowa following the lead as well. Indiana will be the 9th state overall to legalize sports betting.

Indiana Sports Betting Bill Provisions

The Hoosier state also allows for both in-person and online sports betting. This will also be one of the biggest markets to be set up in the US. The tax rate for winnings is just below 10%, which is around the average tax rate across the country. Estimates say that online betting will be the biggest driver of revenue for the state. This is true for New Jersey, where 80% of wagers were paced online.

The scope of online betting covers wagers placed geographically within the state’s borders. It is also simple because bettors are not required to register in-person prior to placing bets. As for land-based gaming operators, they can also subcontract up to a maximum of three individual brands of online gaming operators. This brings the maximum number of operators online to 30 options for bettors to choose from.

Land-based betting has a huge market as well. You have over 12 riverboat and land-based casinos to wager on. Horse tracks are also now allowed to take in sports bets if they are approved for licenses. Lawmakers believe that this law can increase Indiana’s competitiveness compared to neighboring states, and jumpstart the local gambling industry.