Indiana Online Casino Legislation Could Generate $500 Million in New Revenue, Report Says

One of two iGaming bills pending in Indiana’s General Assembly has the potential to be a game-changer for the state’s economy, a report says.

The study, released Wednesday by the iDevelopment and Economic Association, touts House Bill 1356.

House Bill 1356 would pave the way for the start of online casino gaming – starting in July for licensed riverside casino owners, as well as agents operating a riverside casino in a historic hotel district and licensees. permitted at state racetracks.

The association said the bill would generate nearly $500 million over the next five years in new tax revenue, thanks to the strong consumer protections the iGaming legislation would provide.

John Pappas, who is iDEA’s state advocacy director, agrees with the House legislation, saying in a press release from the association that the bill has the best potential for the state of Hoosier.

“Indiana already has the experience and infrastructure in place through online sports betting to support iGaming,” Pappas said in the press release. “Without realizing it, consumers in Indiana are using illegal online gambling sites that offer no consumer protections and no state tax revenue. State legislators can meet consumer demand by establishing a legal, competitive marketplace that benefits the state economy and protects online players with regulatory safeguards.

Why does the gaming industry support HB 1356?

One of the reasons the industry supports HB 1356, as opposed to separate legislation that would legalize iGaming in Indiana (HB 1337), is its ability to modernize the state’s gambling market. .

Matt Bell, who is executive director of the Casino Association of Indiana, believes the iGaming bill has the potential to keep Indiana’s gambling industry in step with neighboring states, such as India. Illinois and Michigan, while providing Hoosiers with the protection they need to bet. without issue.

“iGaming in Indiana will modernize our industry and keep us competitive with our neighboring states who seek to extract Hoosier customers and Hoosier entertainment dollars from our state,” Bell said in the press release. “…We mutually agree that the iGaming market provides Indiana with an opportunity to expand our current regulated environment in a positive way, without affecting land-based gaming revenue generated in the state. Just like sports betting mobiles have increased our industry’s overall revenue, iGaming will enhance our connection with existing customers and allow us to meet new ones in a way never before possible.

What iGaming would add to the Indiana market

Benefits that would accrue from legalizing iGaming in Indiana include greater tax revenue, as well as additional revenue for existing land-based casinos in the state, the iDEA report states.

The report outlines how Indiana’s dynamic sports betting environment should serve as a model for future iGaming developments, as it would allow the state to expand its gaming offerings while providing premium protection for players. consumers.

“Borrowing from the success of mobile sports betting, Indiana already has the infrastructure and regulatory safeguards in place to ensure consumers have all the resources they need to support responsible gaming behaviors and receive support they don’t. could not otherwise receive,” the report said.

Indiana HB 1356 got its first reading by the Public Policy Committee on January 11.

The legislature adjourns for the year on March 14. The gaming industry hopes HB 1356 will see its way through the legislature within the next 54 days.