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The Supreme Court’s decision in 2018 to allow states to legalise sports betting has sparked a huge boom in the gambling industry in the United States.
That is certainly the case where Indiana is concerned, with the state generating revenues of more than $78 million since the first sportsbook was launched there in September 2019.
Further growth is expected, with all of the major North American leagues set to resume play or start new seasons over the next couple of months.
Read on as we take a closer look at some of the latest developments in Indiana that are likely to have an impact on its gambling revenues.
Revenue Dip Just a Minor Blip
The launch of legal online sportsbooks in Indiana quickly generated huge revenues in the state, although things have slowed down a little over the past few months.
That trend was perfectly highlighted in June, with the sports betting handle dropping by more than $7.5m when compared to the previous month.
However, revenues fell by just $257,860 during the same period and were almost double the amount generated during April.
With all five major leagues in North America set to be up-and-running again soon, Indiana seems sure to retain its status as the fourth biggest sports betting market in the US.
Regulators Approve Merger of Big Guns
A second regulatory agency in Indiana has recently approved the $17.3 billion merger between Caesars Entertainment and Eldorado Resorts.
The Indiana Gaming Commission were the first organisation to give their consent to the deal and the Indiana Horse Racing Commission quickly followed suit.
One condition of the approval was that Eldorado and Caesars will be required to sell three of their gaming properties located in the state.
The New Jersey Casino Control Commission subsequently removed the last stumbling block to the merger by giving the two parties their endorsement.
Boyd & Fan Duel set for Indiana Launch
Boyd Gaming Corporation and FanDuel Group are awaiting regulatory approval to launch mobile sports betting products in Indiana and Iowa.
The companies have already successfully launched the same service across Pennsylvania and are eagerly to expand their operations.
"Together, Boyd Gaming and FanDuel Group continue to successfully capitalize on the historic opportunity afforded by the legalisation and expansion of sports betting in new states across the country," said Keith Smith, President and Chief Executive Officer of Boyd Gaming.
“We are confident our partners at FanDuel will deliver excellent results in Iowa and Indiana as well, further expanding Boyd Gaming's customer base and enhancing our long-term competitive appeal."
Politicians Call for End to ‘Unnecessary’ Taxes
Indiana lawmakers will be keeping a watchful eye on Pennsylvania over the next few months, with some politicians calling for an end to ‘unnecessary’ taxation on legal sportsbook operators.
The officials have put forward a bill which would repeal a federal excise tax and an annual employee-based tax that are viewed as a hindrance to industry growth.
They have argued that it is wrong for states to penalise employers for creating jobs at a time when the sports betting sector is still in its infancy.
Many legal sportsbooks operate to extremely low margins and removing the taxes will help them to attract punters away from the black market.
