What to Expect From Indiana Online Sportsbooks – Market Launch, Promotions Info
Welcome to Indiana online sports betting … almost.
Indiana Gov. Eric Holcomb just signed the bill into law on May 8, and hopes are high for a September 1st launch date for retail sports betting in Indiana. The Indiana Gaming Commission says its now in the hands of the individual casinos if they are ready to start taking bets.
Online and mobile betting should begin shortly after retail launch, but the focus seems to be on getting retail up and running first. The IGC has not put any restrictions on when mobile betting can begin, but the casinos must show the commission they can operate a successful sportsbook and that internal controls and geolocation are up to par. At this pace, we could see online and mobile betting as soon as mid-late October.
With NFL betting being the “holy grail” for sportsbooks, casinos will be eager to open betting before the Indianapolis Colts take on the Chargers in their season opener on September 8th.
What is next on the Indiana Gaming Commission Checklist
The IGC issued 13 temporary sports wagering licenses to the 13 casino and off track betting parlors. Before any bets can be place, the IGC must ensure the following regulations are in order:
- Internal controls are approved.
- The Indiana Testing Lab must certify all operators.
- Each operator must have their data center and server storage inspected.
- Appropriate measures must be met for setting up self-restrictions and voluntary exclusion programs for problem gamblers.
- Geolocation requirements must be met and shown to be fully operational.
The next meeting of the IGC is set for August 28th, just days before launch of retail gaming can begin. It will be interesting to see who can get their “ducks in a row” in time.
Who Can Bet and How?
In order to place bets online or in person, you must be 21 years of age or older. You do not need to be an Indiana resident, but you must be within state lines to place a bet online. 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: There have been rumors for months that theScore, a media company who is best known for its sports news app was looking to enter the US sports betting market. These rumors were confirmed true when a deal with Penn National was announced that will pave the way for theScore to enter up to 11 states with Indiana likely being the first.
The Stars Group- The worlds largest public online gambling company is picking up pace in their goal to leave a lasting footprint in the US. After announcing an agreement with Fox Sports in May, TSG also announced a deal with Penn National that could get them entry into as many as nine states. Already established in New Jersey, and potentially launching any day now in Pennsylvania, Indiana would be the first state under the new agreements.
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 $500 and a sign up bonus bet of up to $250 on your first bet.
FanDuel Sportsbook NJ – $500 risk-free bet.
PointsBet Sportsbook NJ – $1000 in risk-free bets.
William Hill NJ – Bet $50, Get $50.
BetStars NJ– Risk free bet up to $500
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)