The state is collecting roughly what it expected in gambling taxes through the first three months of legalized sports betting.
Hoosiers placed $147 million in sports bets in November – the most of any month so far. It’s also the first month that all of the state’s current sports wagering providers – both in-person and online – were fully up and running.
Casino Association of Indiana President Matt Bell says the early revenue numbers make sense.
“There’s a lot of excitement right now – we’re in the peak season for sports wagering, which is football season,” Bell says.
Bell says he also expects the excitement to die down – look for sports betting revenue to “normalize,” he says.
Still, Indiana has collected about $2.7 million in taxes from sports bets through its first three months. That puts it on target for about $9 million this fiscal year, which is almost exactly what state fiscal analysts predicted.