Show Me The Money: Ind. Lawmaker Proposes Legal Sports Betting Bill
By Travis Thayer
(Indianapolis, Ind.) – Indiana is joining a growing list of states that want to legalize sports betting if the Supreme Court overturns a federal ban known as PASPA.
State Senator Jon Ford (R-Terre Haute) proposed legislation last week that would allow existing facilities such as riverboats and racinos to offer legal sports betting, reports casino.org.
Passage of such legislation would allow Hollywood Casino, Rising Star Casino and Belterra Casino to take up sports betting.
Under Senate Bill 405, operators would have to pay an initial fee of at least $500,000 just to get a sports betting license. If sports betting is legalized in the Hoosier state, Sen. Ford estimates wagering taxes would bring between $3.1 and $18.8 million to the state each year.
The legislation’s chances of being passed into law all depends on the outcome of Christie v. the NCAA in the Supreme Court. If New Jersey is victorious in striking down the Professional and Amateur Sports Protection Act, states would be free to regulate sports betting with a full menu of contests to wager on.
Indiana is one of nearly a dozen states that could introduce sports betting in 2018. Kentucky and Ohio also have pending legislation to legalize sports betting.