Indiana, District of Columbia officially join legal betting party

Indiana officially joined the legal sports betting party on Wednesday, bringing the total number of US states with legal wagering to an even 10.

On Thursday, the last day in which he had to act, Indiana Gov. Eric Holcomb signed the comprehensive gambling legislation approved by the state’s politicians late last month. The bill will allow sports betting at the state’s casinos, racinos and off-track betting parlors, as well as via mobile devices statewide.

Prospective licensees can begin submitting applications as of July 1 and the hope is that actual wagering (the land-based variety, at least) will get underway on September 1 through the issuing of temporary certificates. Licensees will pay $100k application fees and an annual fee of $50k while their revenue will be taxed at a rate of 9.5%. Casinos will be allowed to operate up to three betting ‘skins’ apiece.

Holcomb’s signature also offers Spectacle Entertainment the go-ahead to relocate one of its two riverboat casino licenses to a new $300m land-based venue in Gary. Spectacle will surrender its other license, which will be auctioned off for the right to operate a brand new casino in Terre Haute (pending local voter approval). The state’s racinos will also be allowed to offer live-dealer table games starting January 1, 2020.