Sports betting legal in two months
The Indiana Gaming Commission (IGC) has sent out a list of sports that sportsbooks can offer markets in, starting this September. To compile the list, the IGC looked at what sports were on offer in other states where sports betting is legal.
Sports bettors will be able to place wagers on college and professional football, basketball, ice hockey and baseball. The list continues, with softball, the Olympics, track and field, sailing, rugby, lacrosse, cricket, bowling, mixed martial arts, auto racing, darts, boxing, and golf also included.
Despite concerns from officials in Minor League Baseball (MiLB), bets can also be placed on Triple-A games in Indiana. Currently, Indiana is home to the Indianapolis Indians MiLB team. If sportsbooks want to, they can offer betting markets on the Indians’ games.
MiLB voices concerns
MiLB President Pat O’Conner spoke to the Boston Herald about their concerns about legal sports betting markets. He said that, because the players in these leagues do not get paid very well compared to those in the major leagues, there are concerns that some may try to bolster their income through sports betting and potential match-fixing.
Therefore, more resources will need to be put into these games to ensure nothing underhand is going on. He said the games in this league are also more for the development of players, rather than being overly competitive.
There are concerns that some players may try to bolster their income through sports betting and potential match-fixing.
The IGC did not communicate at all with any sports leagues when compiling their list. The regular season for minor league baseball ends on September 2 this year. Since the earliest that an Indiana sportsbook can open is September 1, there is not too much concern on this front for now.
Sports betting in Indiana
There was a strong push to legalize sports betting in Indiana following the ending of the federal ban in May 2018. One of the first things the legislature did was to commission a study into the potential effects of legal sports betting in the state. The resulting report from gambling consulting firm Eilers and Krejcik concluded that the benefits clearly outweigh the negatives.
In April 2019, the Senate and House came to an agreement on a sports betting legalization bill. Governor Eric Holcomb signed the bill into law in May.
The new legislation sees commercial casinos, racinos, and off-track betting facilities being able to open sportsbooks. Mobile sports betting will be allowed, and a fair tax rate of 9.5% of adjusted gross revenue has been set. A portion of these funds will go towards funding gambling addiction programs.
No betting is allowable on amateur athletes under the age of 18 years old. The initial sports betting license fee will be $100,000, followed by an annual license renewal fee of $50,000.
Each sportsbook can decide at their discretion if they want to offer markets on home teams in the state. According to the IGC,
“We’re not making the business decisions of what wager types are going to be offered. That’ll be the call of the operators.”