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Indiana was one of the first states in the midwest portion of the United States to legalize sports betting. It remains one of the leaders in that part of the country. Both retail and online IN sportsbooks are available. Most of the top names in the industry offer betting in some form.
It didn’t take long for Indiana sportsbooks to start to post some big numbers, and there has been plenty of growth since the industry launched in 2019. There is room to improve betting in the state, but it has provided a huge financial boost to the economy.
BetMGM, DraftKings, and FanDuel have emerged as three of the top online sportsbooks in Indiana, and these companies also offer retail betting at casinos as well. Other sites such as William Hill, PointsBet, and Unibet also provide terrific options to residents and visitors of the state.
There are favorable sports betting rules and regulations for the sports bettor and betting operator in the state of Indiana. This has helped the market grow over time, but there is also plenty of healthy competition.
Parlay betting has consistently been one of the most popular betting types with sports bettors in the state. This is right up our alley at BParlay.com, and you need to check out all of our parlay betting features before you make this type of bet at an Indiana sportsbook.
The Midwest is a huge player in the US sports betting industry, Indiana has helped it get to that point.
Path to Indiana Sports Betting
Lawmakers in the state of Indiana could sense that sports betting was going to become legal in 2018. There were a pair of bills introduced in January. Those bills did not receive a ton of initial support as the federal ban was still in place.
While the bills weren’t passed in 2018, there was plenty of language in those first two bills that were eventually included in the current sports betting law. Some provisions were also removed, and the language that was removed help Indiana become a more attractive market.
It didn’t take long in 2019 for sports betting to become the primary point of discussion in the Indiana legislature. Governor Eric Holcomb supported the legalization of sports betting, and that gave lawmakers all the support that was needed.
Statewide mobile sports betting was added to the bill in 2019, and it was officially signed into law on May 8, 2019. The IGC was put in charge, and that group got to work quickly to start approving and issuing licenses.
The first retail sportsbooks were launched on September 1, 2019, just in time for the upcoming NFL season. One month later, the first online sportsbooks were available in the state.
Most of the initial sports betting rules and regulations have stayed the same, but new operators continue to launch in the state. There are both US-based and international companies that have launched IN sportsbooks.
Indiana has always been a state that has been progressive when it comes to gambling, and sports betting was no different. Becoming one of the first states to launch in the Midwest allowed the state to get off to a very quick and successful start.
IN Sports Betting Figures
Indiana is not one of the top-five biggest sports betting markets in the US. But it is just outside of that group. As more sportsbooks continue to launch, the Hoosier State could make a move into the top five. Things are trending in the right direction.
By the end of the first year that sports betting was offered in Indiana, the total sports betting handle for December was all the way up to $161.8 million. This number jumped all the way up to more than $187 million in February 2020, but things came to a halt quickly in March 2020.
The state started to recover in August 2020, and September set a new state record when $207.4 million was the monthly sports betting handle total. December of that year was the first time that Indiana went over the $300 million mark in sports betting handle.
January 2021 is the biggest month on record for the state of Indiana. As the total sports betting handle was $348.2 million. This was also the biggest month in terms of sports betting revenue as the sportsbooks brought in $29.3 million.
Since launching sports betting in August 2019, the total sports betting handle in Indiana is $3.1 billion, and the total revenue is $252.6 million. This all amounts to the state having collected over $24 million in tax revenue from the IN sports betting industry.
There is a good chance that Indiana will go over the $400 million total for sports betting handle in 2021. There is now much more competition in the Midwest. This state has done better than expected in this industry. The state has made plenty of money off of this form of gambling.
IN Sports Betting Rules/Regulations
There are favorable rules and regulations for both bettors and operators in Indiana. That has helped the market grow tremendously from where it began. Both retail and online sports betting options are available, and remote registration is legal as well.
The Indiana Gaming Commission oversees and regulates the sports betting industry, and all license applications go to that organization. The only properties allowed to apply for a license are the casinos in the state. However operators can partner with a land-based casino to be eligible as well.
Some states have limits on collegiate sports betting, but that is not the case in the state of Indiana. Sportsbooks can offer bets on in-state college teams and on collegiate events taking place in the state of Indiana.
There are some limits in place for in-play betting options, and official league data is needed if this betting option will be offered. The legal age to place a bet on sports in the state of Indiana is 21 years of age. This is pretty consistent throughout the United States.
The tax rate for sports betting is under 10 percent. This is one of the factors that has been attractive to some of the top operators in the United States. Most of the sports betting licenses have already been accounted for, but the state is building new casinos. These will open up some additional opportunities.
Popular Teams in Indiana
Football is by far the most popular sport to bet on in the United States. While NFL football is the biggest betting market, basketball is the most popular sport in the Hoosier State.
The Indiana Pacers are the NBA team in the state of Indiana. This team brings in plenty of betting action. Betting on college sports is also allowed in Indiana, and there are a number of popular college basketball teams.
The Indiana Hoosiers and Purdue Boilermakers both compete in the Big Ten Conference, and these teams help drive the sports betting industry. Notre Dame is another large school and is a popular team to bet on as well.
Speaking of the Fighting Irish, this is one of the most popular college football teams in the country. Betting on this team and sport is huge in the state of Indiana.
At the professional level, the Indianapolis Colts help bring in some big handle and revenue numbers for the state. The Colts have enjoyed plenty of success over the past few decades, and that has helped the team become popular.
There aren’t any professional baseball or hockey teams in the state. However the teams from Chicago are popular in the Northwest portion of the state. The Chicago Cubs, Blackhawks, White Sox, Bears, and Bulls all help push the Indiana sports betting industry.
A helpful resource for problem gamblers in Indiana can be found on the following website: http://www.ipgap.indiana.edu/