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.
Operators must feature responsible gambling information, such as website links and helpline numbers, on their site, as well as providing the option for players to self-exclude for one or five years.
The regulations do not mandate the use of official league data for betting purposes, something that was left to the commission’s discretion rather than enshrined in law. They do, however note that the commission “reserves the right to disapprove of the source of data for any reason”. Such reasons may include the type of wager, and the method of data collection.
The consultation on the proposed controls runs until August 1, ahead of an Indiana Gaming Commission meeting scheduled for August 28, at which the regulations are likely to be adopted.
Per HB1015, the earliest date at which bets can legally be accepted is September 1, 2019.