Gambling in the USA
Indiana’s launch of online sports betting a big step toward unleashing potential
Indiana’s legal sports betting market could become one of the largest in the country, generating billions of dollars in bets annually and millions in tax revenue for the state for years to come, according to analysts from PlayIndiana.com.
On Thursday, Indiana will become the seventh state to allow the launch of legal online sports betting, but few of its predecessors have had as much potential as a sports betting market. Already with 13 retail sportsbooks, the addition of online sports betting to Indiana could mean that the state’s best-case scenario is to generate nearly $400 million in annual revenue from a handle of close to $6 billion if neighboring states such as Ohio and Kentucky do not legalize sports betting.
“Indiana’s close proximity to Chicago, as well as other relatively large markets such as Cincinnati and Louisville, should help the state punch above its weight class,” said Dustin Gouker, lead analyst for PlayIndiana.com. “As long as Indiana’s neighbors continue to prohibit sports betting, the state should expect huge flows of drive-in traffic.”
The two largest legal sports betting markets in the country enjoy a similar dynamic. Nevada has long relied on drive-in traffic from California to fill its sportsbooks. And New York helps fuel New Jersey’s sports betting industry, which has accepted $3.8 billion in bets since launching in June 2018.
“Indiana most closely resembles New Jersey, where the New York City market sits just across its border, helping to propel the Garden State into a neck and neck race with Nevada,” Gouker said. “If everything goes right for Indiana, it could see remarkable growth, as was the case in New Jersey.”
Such growth would be a boost to Indiana’s state budget. With a tax rate of 9.5%, $400 million in gross revenue for the sportsbooks would inject $38 million into state coffers.
Indiana’s 9.5% rate could also make it more attractive to operators.
By comparison, Pennsylvania levies a 36% rate, the highest in the nation. New Jersey levies a 9.75% tax on revenue from retail sportsbooks and 13% on online sports betting revenue.
“Indiana has set itself up as one of the most operator-friendly legal sports betting markets in the country,” said Kim Yuhl, analyst for PlayIndiana.com. “That balance should help both sportsbook operators and the state realize their revenue potential.”
For more information and analysis on regulated sports betting in Indiana, visit PlayIndiana.com/news.
About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayIndiana.com, PlayNJ.com and PlayPennsylvania.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.
Gambling in the USA
Games Global Launches Custom Slot Game Caesars Palace Frenzy with Caesars Digital
Launch marks the first bespoke game launch in the partnership between gaming operator and premier gaming provider
Games Global today announced the exclusive launch of Caesars Palace Frenzy, a Caesars-branded slot title that marks the first bespoke game launch on behalf of Games Global’s partnership with premier gaming operator Caesars Digital. Caesars Palace Frenzy is now exclusively live on Caesars Palace Online Casino in New Jersey with plans to expand to Michigan and Pennsylvania, offering players another highly engaging, operator-specific gaming experience with iconic Caesars Palace branding.
Caesars Palace Frenzy combines the excitement of the Las Vegas Strip’s iconic casino with innovative gaming dynamics crafted by Games Global. Designed exclusively for Caesars Digital online casino players, this game delivers an online slot experience with engaging gameplay, sophisticated graphics and dynamic features like scatter pays, multiplied free spins selected by a concentric wheel and a seven-tier jackpot line-up.
This launch demonstrates Games Global’s continued emphasis on partnering with top iGaming operators to deliver exclusive and custom gaming products to players.
“Working closely with Caesars Digital to create Caesars Palace Frenzy has been an exciting journey,” the Chief Executive Officer for Games Global, Walter Bugno, said. “This game is more than just an online slot experience, it is an adventure that mirrors the thrill and grandeur of one of the world’s most iconic destinations. We’re thrilled to see it come to life and deliver a unique blend of entertainment and gaming.”
“We’re committed to collaborating with top gaming providers to launch custom online casino experiences for our players that can’t be found anywhere else,” the Senior Vice-President and Chief iGaming Officer for Caesars Digital, Matt Sunderland, said. “Caesars Palace Frenzy delivers on that commitment by providing an elevated gaming experience that we’re certain our players will enjoy.”
Gambling in the USA
Alabama-Coushatta Tribe of Texas Announces Plans to Build New Casino Resort
The Alabama-Coushatta Tribe of Texas has announced the plans to build a brand-new casino resort on its Tribal lands in Polk County.
“We are incredibly excited to embark on this new chapter. This new casino resort will not only provide significant economic benefits for those living and working in the region, but it will also become a vibrant destination for visitors,” Ricky Sylestine, Chairman of the Tribal Council, said.
While specific details are still being finalized, the new resort may offer a variety of amenities including a state-of-the-art casino floor, hotel accommodations, and diverse dining and entertainment options.
The Tribe has engaged the architectural firm FFKR to design the new resort. FFKR is known for its innovative and creative designs. The Tribe is confident the firm will create a truly exceptional destination.
In addition to the new casino resort, the Tribe is planning an extensive remodel to its existing Ischoopa/One Stop Convenience Store and Truck Stop. The remodel will include adding electronic bingo machines.
The Alabama-Coushatta Tribe of Texas will be releasing news related to the new resort and any additional developments in the coming months.
Gambling in the USA
BetConstruct to Display Its Products and Services at Sigma Americas
BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.
Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.
BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.
Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.
Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.
-
Latest News3 days ago
Xpoint Launches Groundbreaking New Capability to Reduce Geolocation Costs for Operators
-
Latest News7 days ago
Odditt Appoints Elaine Milardo as its New Chief Technology Officer
-
Latest News7 days ago
Broadcast Legend Mike Francesa Renews Exclusive Partnership with BetRivers
-
Latest News4 days ago
FBMDS, Planet Invest and EverPlay Score a Fantastic Goal in a Revolutionary Partnership Involving Ronaldinho Gaucho
-
Latest News7 days ago
Low6 partners with Choctaw Casinos & Resorts to deliver new interactive game
-
Compliance Updates7 days ago
Elys BMG Group Announces Approval for The Ugly Mug Sportsbook in Washington, DC.
-
Latest News7 days ago
Plaza Hotel & Casino to celebrate summer with Friday night fireworks
-
Latest News7 days ago
Scientific Games Commemorates Official Ribbon-cutting for Advanced Instant Scratch Game Production Technology at Global Headquarters