Supreme Court cleared the way with a ruling last year. Sports wagering revenue has fallen short of expectations in many states that quickly legalized it after the U.S.
Indiana’s jump on neighboring states comes amid a $482 million - or nearly 18% - drop in gambling revenues at its casinos since 2012 amid competition from new casinos in Cincinnati and southern Michigan.Īn Indiana legislative report projects that the state will collect only about $13 million a year in revenue from its 9.5% tax on the casinos’ sports bets winnings. Sports wagering generally provides only slim profit margins for casinos, though operators say it is a way to help draw in gamblers. But Indiana’s proximity to several large cities makes sports wagering available to more potential gamblers. Iowa became the first Midwestern state with legalized sports betting on Aug. How quickly mobile betting becomes available will depend largely on the casinos, said Sara Gonso Tait, executive director of the Indiana Gaming Commission. Several casinos plan to start mobile wagering this fall but haven’t set dates. 7 with retired Cincinnati sports stars Anthony Munoz of the Bengals and Tony Perez of the Reds. 5, while the Lawrenceburg casino plans a ceremony Sept. Boyd Gaming says former Chicago Bears star Brian Urlacher will place the first bet at its Blue Chip casino in Michigan City on Sept. Plenty of hoopla will accompany the openings.
