Most states have or are vying for greater regulation over sports betting platforms. Indiana is taking the opposite approach.
The Indiana Gaming Commission recently announced that effective July 1, hundreds of companies connected to the state’s sports betting marketplace won’t need to obtain licensing to offer their services.
The change was orchestrated by Gov. Mike Braun (R) via a series of executive orders aimed at reducing regulations in Indiana.
Increasing ease of access
Braun reportedly viewed the Indiana Gaming Commission's requirements as “burdensome” and not in the best interest of the public or the Indiana sports betting industry.
The new system will be much more open to third-party processors and affiliates, labeled “sports wagering registrants,” including payment processing companies and marketing agencies. These companies previously needed approval from the IGC even if they did not offer betting odds or manage customer accounts.
Even without licensing from the IGC, these companies must abide by state and federal laws that ensure consumer protection and other safety standards.
The licensing fees that were attached to these companies also did not provide a significant amount of funding to the state.
Whereas sports betting entities must pay a $100,000 application fee and a $50,000 annual renewal fee, Indiana in five years collected just over $60,000 in combined fees from companies now free from licensing.
Another positive of the change is that human resources won’t be spread as thin and will be reassigned to provide greater oversight over legal sports betting platforms.
Any sportsbook offering betting odds and accepting wagers will still need to achieve licensing from the IGC before it can legally operate in the Hoosier State.
Indiana sports betting shines
Indiana is home to 11 online and 15 retail sportsbooks. The 11 online operators include:
- Bally Bet
- bet365
- BetMGM Sportsbook
- BetRivers
- Caesars Sportsbook
- DraftKings Sportsbook
- ESPN Bet
- Fanatics Sportsbooks
- FanDuel Sportsbook
- Hard Rock Bet
- SBK Sportsbook
State law allows each licensed casino and off-track betting venue to partner with up to three online skins. That means that the state’s 15 locations could potentially house 45 online sportsbooks, though no state has come close to offering that many.
Indiana sportsbooks understandably lost out as the calendar turned from March to April, signaling the end of March Madness and $116 million less in betting handle. However, the market still generated $437.1 million in total wagers, a 2.8% year-over-year increase, per the IGC’s monthly revenue report.
Sportsbooks posted a 9.2% hold, beating the 6.3% they totaled in March. The state also turned $40.2 million in adjusted gaming revenue into $3.8 million in taxes, bettering the almost $3.4 million from March.
DraftKings led the April market with $156.5 million in accepted bets and $14.4 million in revenue. FanDuel was a close second at $132.1 million and $14 million, respectively.
All in all, Indiana is up to nearly $2 billion in wagers and $179.5 million in revenue since the ball dropped and signaled the beginning of 2025.