What to Expect From Indiana Online Sportsbooks – Market Launch, Promotions Info
Welcome to Indiana online sports betting … almost.
Hopes were high Hoosiers would be able to place bets by September, but state officials, who will begin taking licensing applications on July 1, are now saying that deadline may be too tough to make. Indiana Gov. Eric Holcomb signed the bill into law on May 8.
Though betting on college and professional games will become legal Sept. 1, it appears questionable whether Indiana online sportsbooks will be ready to participate in NFL betting on the Indianapolis Colts when its regular season opens against the Los Angeles Chargers a week later.
State gaming officials are aware of the need for speed to meet that goal, but also stress that it’s important the tasks at hand are completed responsibly. They also admit many factors in getting online sports betting up and running are out of their control.
With that in mind, expect a two-tiered launch of online sports betting with in-person wagering occurring first followed by Indiana online sportsbooks opening up for mobile betting.
Indiana Gaming Commission Checklist
The Indiana timeline to implement sports betting is dependent on the state Gaming Commission’s to-do list:
- It is drafting rules regarding online and in-person registration, including what personal information will be required. They should be up for approval at the Commission’s Aug. 28 meeting.
- Casinos and offtrack betting parlors will suggest sports betting platforms to the gaming panel for review and approval.
- Those same facilities must apply for and receive approval for sports betting licenses, and negotiate and enter into contracts with vendors, also subject to the Gaming Commission’s okay.
- The Commission must make determinations on a) which data can be used to decide whether a wager is a winning wager and b) whether to place limitations on in-game prop betting.
Things should move more quickly once the panel begins taking applications for licenses on July 1, officials said.
Who Can Bet and How?
Once rules, licenses and Indiana online sportsbooks have been established, to wager online or at brick-and-mortar facilities in Indiana, bettors must be at least age 21. When wagering on mobile devices, bets must be made within state-lines. Sportsbooks will be required to use geolocation technology to comply with that requirement.
Bets can be placed on professional and collegiate sports, including American, European and other international contests. Forget about wagering on high school, youth or e-sports — that’s a big NO.
Participants will be able to register to bet online. In-person registration at casinos is available but not required in Indiana.
Potential Indiana Online Sportsbooks
Indiana has more than a dozen casinos that could, as a result of the passed legislation, each have three contracts, or skins, with different online sportsbooks. Add in racinos and off-track betting parlors, and you’ve got a candy counter of betting sweetness and bonus offers forthcoming. Thus far in the US online sports betting market, only one state has this much license flexibility and as many online sportsbook options – New Jersey.
Operators wanting to establish sportsbooks in Indiana will pay an initial fee of $100,000 for a license and $50,000 annually thereafter for the privilege to serve those wanting to wager in Indiana. The law sets a 9.5 percent tax rate on sports bets with 3.3 percent going to help those with gambling problems and the remainder feeding the state’s general fund. Cha-ching.
Potential Indiana online sportsbooks you could see according to our Magic 8 Ball:
DraftKings Sportsbook: The daily fantasy sports superstar last year became the first online sportsbook to offer betting outside Nevada, setting up shop in New Jersey. DraftKings has a partnership with Caesars, which in June 2018 bought Centaur Gaming, which brought with it Hoosier Park and Indiana Grand horse racing casinos (racino). Along with Horseshoe Hammond and Horseshoe Southern Indiana, Caesars has four Indiana properties, so we can expect to see both the DraftKings and Caesars brands with a heavy presence in Indiana.
FanDuel Sportsbook: With nine deposit options and a wide variety of pre-game and live bets, FanDuel is already an online sports betting market leader. As part of a multi-layered deal last year, Boyd Gaming bought Belterra Casino Resort in Indiana. Two months later, Boyd Gaming, which also owns Blue Chip, partnered with FanDuel, so it seems reasonable the book might follow a similar path to DraftKings in trying to grab as much of the market share as possible. FanDuel’s brand recognition should help them do just that and hit the bet slip running.
With 80 percent of online betting, DraftKings and FanDuel dominates New Jersey sports betting and it is possible that will track similarly across the U.S.
William Hill: At the Sports Decisions Makers Summit held last month, William Hill said expansion was in its plans as more states approve sports betting. With more than 100 locations in New Jersey and Nevada, will William Hill find a partner in Indiana? Perhaps Hollywood Casino Lawrenceburg – owned by Penn National – is a good bet given William Hill’s presence at Hollywood casinos in both Pennsylvania and West Virginia.
PointsBet: This Australian sportsbook is upping the ante in mobile wagering at the Meadowlands in New Jersey and will set up shop in partnership with Catfish Bend Casino in Iowa. The book offers high-risk, high-reward wagers contingent on how close the bettor’s prediction is to the final game outcome.
theScore: Late last year, the media company that is known for posting scores and breaking trades through its mobile app and website announced plans to launch a sportsbook in New Jersey in partnership with Monmouth Park Racetrack. Is Indiana a possibility? With more than 4 million active users for its news and scores-driven app, theScore has potential to boost interest among users.
Before Indiana online sportsbooks and retail outlets open, the state will go through a period of app and online system testing, along with various other vetting processes – just like we saw with PA online sports betting.
Indiana Online Sportsbook Promo Codes and Bonuses
Indiana online sportsbooks are sure to offer bonuses and promotions to garner your online and mobile betting attention, but it’s up to you to take advantage of any available Indiana online sportsbook promo codes.
Here are the bonuses offered by New Jersey online sportsbooks, which is a good indicator of the kinds of offers that could be available once Indiana online sportsbooks are up and running:
DraftKings Sportsbook NJ – 100% deposit match bonus up to $200.
FanDuel Sportsbook NJ – $500 risk-free bet.
PointsBet Sportsbook NJ – $1000 in risk-free bets.
William Hill NJ – Bet $50, Get $50.
Remote Registration for Indiana Online Sportsbooks
For years, those running brick-and-mortar sports betting operations feared mobile betting would lead to their demise. That prompted many state legislatures or gaming commissions to insist that bettors who wanted to gamble online or on mobile devices had to visit a casino and register for the privilege.
That keeps foot traffic in casinos and maybe bettors drop a few dimes while inside, operators concluded. On the flip side, many bettors think the practice of having to register in a casino is arcane.
Nevada was the first state to offer mobile sports wagering and bettors must first set up an account in person at a land-based casino. In February, the Nevada Gaming Control Board dismissed online mobile account setup.
New Jersey, on the other hand, was the first state to allow online registration for mobile sports betting. In its April report on revenues, officials concluded 81 percent of all wagers in the state were online or mobile bets.
In Indiana, bettors will have a choice between registering online or in person at a casino. It is still being decided what personal information will be needed to complete registration.
The information may include a form of payment, driver’s license and/or state-issue ID, the bettor’s date of birth and possibly more.
Pennsylvania too, allows remote registration. Iowa will not until Jan. 2021. It varies from state to state so if you’ve got legal betting where you live, check your state requirements.
Indiana Online Sportsbooks – The Same or Different?
Indiana is still wrapping up many of the details but here are some of the similarities with other states and some things that set it apart:
- Bettors in all states must be at least 21 years old.
- You can bet on all professional and collegiate sports, just as most states with legal sports betting. In New Jersey and New Mexico, however, you cannot bet on sporting events of colleges within the state.
- Tax rate on betting revenues varies from state to state. Indiana’s is 9.5 percent.
- Indiana will eventually have mobile and online betting as well as casino wagering, just as Pennsylvania, Nevada, New Jersey and West Virginia. Tennessee online sports betting is the only legislation thus far that has approved mobile-betting only.
Indiana is on the cusp of a huge online sports betting opportunity. Because of the ability for casinos to contract up to three skins for online sports betting, Indiana is well positioned to rival New Jersey as the state with the most online sportsbooks. Not to put a damper on Pennsylvania – where we’re likely to only see 8-12 sportsbooks unless regulations change – but the more Indiana online sportsbooks there are, the better it is for everyone involved. Everybody wins: the state, casinos, online sportsbook operators and, most importantly, you – the Indiana online sports bettor.
For more information on Indiana sports betting legislation, which sports and bet types you can make and the state’s history with gambling, head over to our Indiana online sports betting page.
(Top Photo: Brian Spurlock/USA TODAY Sports)