Report Predicts $256M Annual Industry If Indiana Lawmakers Legalize Sports Betting

Thursday, December 13, 2018 at 8:10 AM

By Mike Perleberg @mikedup84

The report also predicts tens of millions in new state tax revenue.

Photo by Baishampayan Ghose, Flickr.

(Indianapolis, Ind.) - Legal sports betting in Indiana could be worth millions to the state, and perhaps even more to sports books and casinos.

The U.S. Supreme Court issued a ruling in May paving the way for all states to legalize sports betting. Indiana is among a number of states now looking to legalize wagering on professional and college sports.

The Indiana Gaming Commission spent $75,000 to study legal sports betting in the state. The report by Eilers & Krejcik Gaming was completed in October.

The black market value of betting on football, baseball, and basketball in the state is estimated at around $300 million a year. Bringing the industry to the mainstream could help the state's coffers.

The Eilers & Krejcik report determined legalized sports betting in Indiana could create a $256 million annual gambling industry within five years. That would generate $87 million in taxes and fees back for the state in those five years.

State Senator Jon Ford (R-Terre Haute) told WISH-TV that he and State Rep. Alan Morrison (R-Terre Haute) each plan to submit bills for legalizing sports betting when the 2019 lawmaking session begins in January.

Study Committee Unanimously Backs Legalized Sports Betting In Indiana

Sports Betting Could Benefit Indiana Casinos Likely To Lobby For Legalization

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