Eversince PASPA was repealed in the US, states have been scrambling to legalize sports betting. People are starting their own bookie pay per head operations to get in the action. Each state has its own set of regulations – taxes and limits are set by their state laws. Consequently, you now have different states with different rules. Some states allow only physical operators to accept wagers, while some allow for sports betting on mobile platforms.
Some states have had these regulations on standby for quite some time. Some, like Indiana, are taking a step back to take a deeper look into sports betting. The Indiana Gaming Commission will be allocating time to gain a better understanding of the full potential of sports betting in their state.
Indiana Sports Betting Future
Last month, the Gaming Commission hired a market advisory firm to conduct a full study on sports betting and the impact of this in Indiana. The research will include fiscal impact estimates and policy consideration among other things. This was done under the suggestion of the gaming commission of West Virginia to their counterparts in Indiana.
Indiana has been wanting to regulate sports betting for quite some time, even before PASPA was repealed. Rep. Alan Morrison introduced HB 1325 last January with the intention of allowing sports betting at state-licensed operators. His bill included online and mobile bets. The issue in his bill was the 1% tax on betting handle. This was aside from the 9.25% tax on the revenue of sportsbooks. The bill died during plenary sessions. It was decided that further study was needed before making laws on sports betting.
So the decision to take a step back to review the figures is a great move for the state. This allows for the gaming commission to determine which regulations are needed. This may even serve as a guide for other states who wish to regulate sports betting. By considering all aspects of sports betting, as well as live betting, mobile and online wagering, it will pave the way for better laws. Laws that are more inclusive, and laws that will be fair for both the government and sports book operators.
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