Indiana sports betting was legalized in 2019. Since then, there has been a lot happening in the mobile and retail wagering space. But this move did not come without some checks and balances. To safeguard the interests of all parties involved, the Indiana Gaming Commission was put in charge of sports betting in the state.
As a result of the regulation, sports betting in Indiana has grown exponentially in the past couple of months. So far, several betting platforms have been set up, and many more are in the works. If you are looking to get in on the fun early in the game, this is the best time to do so. In this piece, we have broken down the industry and explained everything you need to know. You will learn of the best betting platforms, how the industry works, and what you can bet on.
- 1 What Indiana Sports Betting Looks Like
- 2 Sports you can place bets on in Indiana
- 3 Indiana sports betting options
- 4 Best Places for Indiana Sports Betting
- 5 How Does One Place Bets in Indiana?
- 6 Conclusion
- 7 FAQs
What Indiana Sports Betting Looks Like
The first brick and mortar in Indiana were set up in September of 2019. A month later, mobile betting was launched. The legalization of this industry was intended to indulge punters in Indiana but also earn the state some revenue. In light of this, all sports betting platforms in Indiana are charged a 9.5% tax of their gross revenue.
Note: because of the regulations, only a company with a partnership with a land-based casino or an existing land-based casino can get a sports betting license. Unfortunately, sports betting legalization didn’t include esports betting – this is still prohibited in Indiana.
Sports you can place bets on in Indiana
Under the Indiana Gaming Commission, sports betting platforms can offer betting services in a range of sports. Many, if not all, of the major sports in the US are on the lists. Also, some lesser-known international sports appear in some sports betting platforms.
Below is a list of the sports you can bet on in Indiana
- Basketball: NCAA Division I Basketball, Euro League, NBA
- Baseball: MLB, Minor League Baseball, CAA Division I
- Football: NFL, CFL, XFL, NCAA FBS
- Hockey: Minor League Professional Hockey, NHL, NCAA Division I
- Soccer: EPL, EUFA Champions League, MLS, World Cup
- Tennis: ATP, WTA
- Golf: LPGA, PGA, Ryder Cup, FedEx Cup
- Boxing: Bouts commissioned by a couple of boxing organizations
- Cricket: several leagues
- Motorsports: Formula One, Indycar, NASCAR
- MMA: Bellator, UFC
- Cricket: Various leagues
- Aussie Rules Football
- Rugby several leagues from all over the world
- Olympic sport: it depends on the sport in question
Obviously, this list is not complete. Instead, it focuses on the most common sports you can bet on in Indiana. Bear in mind that different sportsbooks will have a different list. Some will include only the main sports and a few of the international sports and events while others will go the whole nine yards and offer a comprehensive list
Indiana sports betting options
The state of Indiana has given sportsbooks a lot of freedom in deciding the type of bets that they will offer punters on their platform. As such, sportsbooks use the different betting options as a unique selling point. But even with the variations, some betting options cut across the board. Below are some that you will come across.
Placing a bet against the spread is common in basketball and football games. However, some sportsbooks offer it for other sporting events as well. Usually, sportsbooks favor the underdog to make a bet competitive and exciting. You will then choose which team will cover the spread. Let’s take the below example:
- Chicago Bulls: +4.5
- Indiana Pacers: -4.5
In this bet, we say Indiana Pacers is laying 4.5 points. If you bet on them, then it means you will subtract 4.5 points from the final score. If, after this, they still have more points than Chicago bulls, then we say they covered the spread. So essentially, Indiana Pacers needs to win the game with 5 points for you to win the bet.
But while Indiana Pacers are laying 4.5 points, Chicago Bulls is getting 4.5 points. This means that you will add 4.5 points to their final score. If this gets them to have more points than Indiana Pacers, then they have covered the spread. Therefore, to win the bet, the Chicago Bulls cannot lose to the Indiana Pacers by 5 points or more. If they only lose with 2 points, then your bet wins.
This is by far the most common and the easiest to understand. This bet requires you to pick the winner of a given match. Sportsbooks adjust the match odds based on the probability of the outcomes. Because of this, the payouts vary greatly depending on the team you bet on. Let’s take the below example.
- Chicago Bulls: +145
- Indiana Pacers: -165
With the above odds, you will have to bet $165 on Indiana Pacers to get $100. On the other hand, you will have to bet $100 on Chicago Bulls to win $145.
This type of bet is different from the spread and Moneyline. Instead of betting on the winner or loser, with ‘Total,’ you bet on the total points scored in a match. So the sportsbook will show you something like this:
- Over 222.5 points
- Under 222.5 points
If your bet is on over, it means that the combined scores in the match should be 223 points for you to win. On the flip side, for you to win under, the points have to be less than 222 points.
This bet type is common in football and basketball. However, hockey and baseball games have it as well.
As the name suggests, with this bet, you will be placing bets on future event outcomes. Many punters love these bets because there is a potential to win big if your prediction is correct. But the huge payout comes with a huge risk. After all, predicting the future is not an easy thing to do.
A parlay is a simple bet, but it requires some level of skill to balance the payout and the risk involved. Generally, with a parlay bet, you combine several wagers into a big bet. As a result, all the bets are linked. So that you can win, all your predictions have to be true. The more you add wagers to the list, the higher the payout becomes. But on the other hand, the odds of winning reduce significantly.
You can build a parlay bet with any of the above bet types. But depending on the sportsbook you use, there will be limits on the maximum and minimum amounts of bets you can add to the list.
Teasers fall under parlays. They give you the option to buy extra points to boost your odds of winning. While your chances are better with a teaser bet than a straight parlay, the payout is lower.
Prop betting was initially synonymous with the Super Bowl. However, it has since found its way into other sports. This bet focuses on the statistics of an individual player or a random happening during the game.
Though many sportsbooks usually prefer to offer this bet during major events, some see no problem offering it on regular sporting events as well.
It took a while for live betting to be allowed into Indiana sports betting, but finally, it’s an option. You can get live betting on the above bet types. Since the event is live, the odds are adjusted in real-time. Therefore, you have to make bet decisions on the fly. This type of bet is especially popular with punters who use Indiana Sports betting apps.
Best Places for Indiana Sports Betting
Even though Indiana sports betting started in 2019, it has made a lot of progress. Currently, the industry has over 15 brick and mortar sports betting locations in Indiana. Online sports betting in Indiana was legalized only a month after Indiana sportsbooks, but it’s still playing catch up. There are about six online sports betting platforms in Indiana. However, we expect more to pop up in the coming months.
The Indiana Gaming Commission requires every brick and mortar sportsbook to have a license before they offer their services. Racetracks, off-track betting parlors, and casinos had a relatively easy time applying for the licensing. However, to acquire the license, they had to partner with sports betting companies to launch the sportsbooks. Below are the licensed locations and the casinos that partnered with them to launch sports betting.
Caesars Sports has the most partnerships and sports betting locations in Indiana. Even though many of these locations are small, they serve the growing number of punters adequately. They run their sports betting operations from Winner’s Circle, which has locations in New Haven, Indianapolis, and Clarksville.
Caesar Sports has also partnered with large casinos, including:
- Indiana Grand Racing and Casino
- Harrah’s Hoosier Park
- Horseshoe Southern Indiana Hotel and Casino
- Horseshoe Hammond Casino
On the other hand, FanDuel Sportsbook has a partnership with:
- Blue Chip Casino
- Belterra Casino Resort
The other retail sportsbook locations in Indiana include:
- French Lick Resort Casino
- Rising Star Casino Resort
- Ameristar Casino Resort
- Majestic Star Casino
- Hollywood Casino Lawrenceburg
- Tropicana Evansville Casino
Unfortunately, there aren’t as many online sportsbooks as there are brick and mortar sportsbooks in Indiana. This is mainly because all sportsbooks need to partner with the existing casinos or racetracks to get a license. A couple of off-track betting platforms have partnered with online sports betting platforms to launch in Indiana. Below are the current players in Indiana sports betting.
BetRivers and DraftKings sportsbook were the first to offer an online sports betting alternative. FanDuel joined the party later and made the industry even more competitive.
BetAmerica launched as 2019 was coming to a close, and BetMGM launched in February of 2020. The latest online sports betting platform is PointsBet.
Above are some of the best and biggest sportsbook players in the world. Aside from these, more players are expected to join the party soon. For instance, William Hill, Fox Bet, and Caesars Sportsbooks have licenses, and it’s a matter of time before they launch. To gain an advantage over their competition, the online sportsbooks offer great promotions and welcome bonuses. They use these as marketing strategies to gain more punters before the industry is flooded. As the competition increases, you can expect the bonuses to get bigger.
So far, the online sport betting platforms in Indiana have mobile applications available on iOS devices and Android. The goal of these apps is to allow players to place bets from any part of Indiana.
How Does One Place Bets in Indiana?
The simplest way to place a bet is to visit a brick and mortar sports betting location in Indiana. As such, any of the retail locations listed above will cut it. With the brick and mortar locations, you do not have to create betting accounts. Provided you are above the legal betting age; you can place a bet. The legal betting age in Indiana is 21 years old.
However, if you fancy the convenience of using a mobile app to place sports bets, you will have to create an account. But before you do, you will have to choose the best online sports betting platform in the industry.
Luckily, the account creation process is not complicated. It is more or less like opening a social media account, and it takes less than five minutes if you have all the details at hand. After account creation, you will have to deposit cash into the account through any of the payment methods the platform supports. Usually, deposits reflect instantly. Finally, once you have money in your account, you choose the sports event you want to place a bet on, choose a bet type and place the bet.
To do all this, you do not have to be an Indiana state resident. However, you will have to be within state lines to place the bets. But how will the app know you are in Indiana? Simple, the apps will request permission to turn on your device’s location and will then geo-locate you.
Note: If you are not connected to the internet, make sure you update your location to avoid complications. Usually, when you are offline, the device will record the last location you were online. And this might cause the mobile app to lock you out.
Though it is relatively new and there is a lot of work to be done, so far, the industry is doing great. With time, the number of sportsbooks will increase to meet the growing demand. However, as you enjoy the better services and the bigger promotions and bonuses, ensure you bet responsibly. This means that you should only bet money you are willing to lose. And in case things get out of hand, set limits or take some time off.
Can I wager on teams?
Yes, you can. Indiana sportsbooks allow you to wager on college and professional teams in the state. This is a plus since many states prohibit placing bets on college teams. But even with this freedom, the state of Indiana draws the line on amateur and high school events. Any event that has players under 18 years is not allowed.
What is the best online sports betting site in Indiana?
The term best is always relative. What may work for your friend may not work for you. Even though the sportsbooks vary greatly, there are several factors that you can consider to label even begin to consider a sportsbook as best. These factors include regulation by the state and having a license. Also, any sportsbook that offers promotions and welcome bonuses is a good option. After all, why would you say no to money if the terms attached to it are favorable?
How does the state benefit from legalizing sports betting?
According to the law legalizing sports betting in Indiana, the sportsbooks have to pay tax to the state. The tax rate is 9.5% of the gross income. When you consider all factors, this rate is friendly. However, in comparison to the tax rate in Nevada, which is at 6.75%, the rate is high. On the other hand, it is significantly lower in comparison to that in Rhode Island and Pennsylvania, who charge 51% and 36%, respectively. The sportsbooks also have to pay an operator fee, which is set at $100,000 with an annual renewal fee of $50,000.
What does Indiana do with all the money collected?
All the money collected by the state goes to fund prisons, health care, and education in the state.
Is sports betting legal in other states?
Yes, it is. There has been a wave of legalizing sport betting across the US. Some of the states that have legalized it so far include Indiana, New Jersey, Nevada, Pennsylvania, New York, Iowa, Arkansas, West Virginia, Delaware, Oregon, New Mexico, and Mississippi.