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Indiana Benefiting from Online and Land-Based Sportsbooks

Indiana Benefiting from Online and Land-Based Sportsbooks
Things have been going in the right direction for sports betting in Indiana

The very first land-based sportsbooks opened their doors on the 1st of September in the state of Indiana. One month later on the 3rd of October, the very first online bookies opened their virtual doors. The industry within the state’s borders is fully regulated by the Indiana Gaming Commission. Just like in other states, sportsbook providers and operators who want to offer their service to the state’s residents need to partner with some brick and mortar entities.

Despite the fact that almost every major sportsbook operator has a way of entering this market, just several of them have managed to do so and these are all fully reliable, and reputable vendors. The very first to hit the industry was BetRivers and DraftKings which opened their online sportsbooks to the residents of Indiana on the 3rd of October.

Their moves were soon followed by FanDuel which opened its sportsbook in the state on the 26th of October. As of today, several big brands are working on establishing their venues including Caesars, William Hill, BetMGM, and PointsBet. All things considered, the state’s residents can expect many both online and offline sports betting activities offered by the best brands.

Sports Betting in Indiana

When it comes to sports betting activities in the state, the industry launched just before the beginning of the new NFL season which was early September. This September date was for retail in-person sportsbooks, off-track betting shops, racinos and casinos at Indiana-based venues. When it comes to the state’s gambling laws and regulations, they are all conducted by the Indiana Gaming Commission.

According to the commission’s laws and regulations, statewide mobile betting is allowed, everyone who is over the age of twenty-one can register from any place in the state, the tax rates for such activities include 9.5% of generated gaming revenue, wagering on amateur athletes and eSports is not allowed and they are some limitation on live betting.

All in all, the sports betting opportunity for the state is rather massive as the state of Indiana is home to over six million residents. Many experts and professionals agree that the state’s potential market could create a big, vibrant industry. When it comes to the handle, it could go up to $6 billion yearly depending on how the industry evolves and depending on what the state’s neighbors do in terms of legalizing sports betting.

Land-Based and Online Sportsbooks Had a Successful October

One of the latest researches done on the subject has shown that both land-based and online sportsbooks active in the state had an extremely successful October due to a massive increase of 161% in the aggregated handle which amounts to around $91.7 million. The industry has also seen a great 34% rise in gross gaming revenues which amounts to around $11.5 million.

According to the Indiana Gaming Commission, this massive improvement was mainly fueled by the newly-launched bookies including DraftKings and FanDuel. The commission’s official press release also details that the industry had a great October also thanks to out-of-state wagers who were traveling from the Cincinnati and Chicago areas.

All things considered, Indiana is rapidly becoming a major star among fully legalized sports betting markets in the states. In fact, it seems that the state is far ahead of the neighboring states including Michigan, Kentucky, Ohio, and Illinois considering the industry’s success from the previous month. If things continue in this manner, Indiana will become the Midwest gambling capital in the near future.

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