Indiana launches consultation on sports betting regulations
The Indiana Gaming Commission has launched a public consultation on the state’s sports betting regulations, with stakeholders and members of the public able to submit comments on the proposed framework until August 1.
The regulations formalize the framework set out in House Bill 1015, which was signed into law by Governor Eric Holcomb in May this year.
Operators and vendors are required to pay a non-refundable application fee of $100,000, which drops to $10,000 for sports wagering service providers. Once the commission receives this fee, and a completed proposal, it may grant the applicant a temporary license.
HB1015 also sets out a 9.5% gross revenue tax, which is not referenced in the regulations.
All sports wagering license applicants will be required to maintain a cash reserve of $500,000, as well as partner an integrity monitoring provider, who will be tasked with sharing information on unusual activity with all licensees.