December 13, 2019

Hoosiers Bet $147 Million On Sports In November

Original story from   IPBS-RJC

Article origination IPBS-RJC
Casino Association of Indiana President Matt Bell, center, discusses gaming on a panel at the Bingham Greenebaum Doll Legislative Conference.  - Brandon Smith/IPB News

Casino Association of Indiana President Matt Bell, center, discusses gaming on a panel at the Bingham Greenebaum Doll Legislative Conference.

Brandon Smith/IPB News

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.

Contact Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.

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