While Indiana isn’t a state revered for sport, it’s still one of 31 states that have legalized sports betting to some degree. In this guide, we’ll detail everything there is to know about Indiana sports betting — so read on!
- Where to Place Sports Bets in Indiana?
- Is Sports Betting Legal in Indiana?
- Sports Betting Revenue & Taxation in Indiana
- Best Indiana Sports Betting Apps
- Indiana Sports Betting Promotions
- Popular Types of Bets
- Where To Bet on Local Indiana Teams
- Important Sports Events in Indiana 2023
- Indiana Sports Betting Timeline
- States Where It Is Legal to Bet on Sports
- Indiana Sports Betting – FAQs
- ThePuntersPage Final Say
Sports bettors in Indiana have a multitude of options in terms of bookmakers, but above are our top three sportsbooks available in the state.
Is Sports Betting Legal in Indiana?
Following the collapse of the Professional and Amateur Sports Protection Act (1992), Indiana moved to legalize sports betting. It was officially legalized in the state when Governer Eric Holcomb signed HB 10151 in May 2019.
The first Indiana sportsbook opened in September 2019, with online sports betting beginning a month later.
Speaking about the decision to pass the bill into law, Holcomb said2: “By modernizing our laws, this legislation will spur positive economic growth for our state and for an industry that employs over 11,000 Hoosiers. Additionally, it will bring in new revenue and create hundreds of new jobs — both permanent and in construction.”
There’s no doubt that Indiana has benefitted from the legislation.
Present & Future of Sports Betting in Indiana
Things are starting to pick up after a relatively slow start to 2023 for the sports betting industry in Indiana. The state’s sports betting handle was at its lowest since August 2022 in February 2023.
In March, however, Indiana took $433m3 in bets — a 21.6% increase from February.
Sports Betting Revenue & Taxation in Indiana
Since Indiana sports betting was legalized, just shy of $11bn4 have been wagered, generating $908m in revenue for the state. In total, $87m has been generated in tax, too.
In regard to revenue and taxation, here are some of the key points from bill H1325:
- Initial license fees of $100,000, plus a $50,000 annual administrative fee for retail sportsbooks.
- Online sportsbooks would pay a $10,000 initial license fee plus $5,000 in annual fees.
- A flat 9.25% tax rate on gross sports betting revenue.
Comparison of Top Sportsbooks
A behemoth of the American sports betting industry, DraftKings is the most ubiquitous bookmaker in the US. Punters in 17 states can use this bookie, which was formed in 2012 primarily for the use of fantasy sports. It was one of the first operators to go live in Indiana, opening its doors on 3 October 2019.
DraftKings has since evolved into a premier bookmaker, and it’s one which is hard to fault. Their odds are superb, with the quality of their website unrivalled. Placing bets is simple, while the markets they offer are extensive. 17 sports make up their sportsbook, and we discovered that cricket — which is slowly gaining traction in the States — is covered in impressive depth by DraftKings, who also provide great coverage of the NFL and NBA.
Fantasy lovers can still utilise DraftKings to full effect, while vintage pools bettors can also enjoy this bookmaker’s offering.
While their promotions are usually original and exciting with an array of sports being covered, we think they could do more for existing customers. Their welcome offer is a $50 bonus bet with a new customer’s first deposit.
Another widely available betting site, BetMGM can be accessed in 16 states as well as Washington DC. Boyd Gaming5, who operates the Belterra Casino in Florence, Indiana, helped bring BetMGM to the state.
The bookmaker asks for the state you reside in before you get started, which can make the experience with BetMGM feel a little more personal.
Their website is slickly designed and super straightforward to use. Placing bets is an efficient process and a user-friendly interface allows you to access all the different components of BetMGM with ease. They provide competitive odds, and their sportsbook is one of the broadest we’ve seen among American bookmakers.
BetMGM covers a mammoth 27 sports in total, but this can depend on the state. Thus, for those that enjoy betting on less popular sports, this bookmaker might be the one for you!
The bookie’s excellent customer service and robust FAQs section complement the user-friendly experience provided by the website design. On the promotions front, BetMGM slacks somewhat compared to its competitors, but their welcome offer is laden with value.
New customers are given a risk-free first bet, and they could earn up to $1,000 in free bets.
Another bookmaker that partnered with Boyd Gaming is now available in Indiana. FanDuel also has establishments in two Boyd properties in the state: Belterra Casino Resort and Blue Chip Casino.
Like DraftKings, FanDuel started out as a venerated fantasy sports platform and has similarly evolved into a respected bookmaker. FanDuel is regarded as one of the leading US bookmakers, and, for us, they have to be considered alongside DraftKings and BetMGM as the very best.
FanDuel is available in 15 states and remains an excellent provider of all things fantasy football. On the gambling front, we appreciate the endless list of innovative promotions offered by the site.
Bet boosts, win bonuses, and parlay specials are almost always supplied by FanDuel, and their welcome offer is also excellent. New customers will receive $150 in bonus bets after their first minimum $10 deposit.
Their site is also easy to access and navigate, with all the dull financial processes being quick and simple. You’ll never have any issues depositing or withdrawing with this bookie.
Best Indiana Sports Betting Apps
The app is particularly popular for fantasy sports, and punters can easily access all components of the app due to its user-friendly interface. This premier bookmaker also launched its dedicated horse racing app, DK Horse, in Indiana ahead of the Kentucky Derby on 6 May.
Indiana Sports Betting Promotions
Here are some of the most common sports betting promotions offered by bookmakers licensed in Indiana:
- Deposit Match Bonus
These new customer offers are key to enticing fresh punters to a particular sportsbook. A deposit match bonus involves the bookmaker matching a new customer’s first deposit — often up to a certain amount. So, if a new user makes a first deposit of $50, the bookmaker will match that and reward the punter $50 in bonuses.
This bonus typically manifests as bet credits, which can be used on the site’s sportsbook and subsequently turned into real cash should any of your bets win.
Some sportsbooks will also offer a first bet match promotion, which is a similar premise; but instead of matching a user’s first deposit, they’ll match their first bet stake.
- No Deposit Bonus
A no deposit bonus is brilliant as punters do not have to deposit any funds into their account in order to receive the reward on offer. You’ll qualify for the bonus by merely registering with the sportsbook, which means punters will likely have to enter a promo code to receive their bonus.
This promotion comes with many perks for the new customer as they’ve got an opportunity to win without risking anything. You can also use your free bets as a way of testing out the sportsbook to see whether it fits your betting needs.
- Enhanced Parlays
Everybody loves putting on a parlay, right? Such bets are among the most popular among sports punters, especially novices.
A parlay bet involves making multiple wagers and combining them to create one big one. While they’re a great way to win big money, they’re mightily difficult to pull off.
Enhanced parlays, or parlay boosts, is a juiced-up version of your standard combo bet. Sportsbooks will boost the odds of your parlays to increase potential payouts. These boosts are usually proportional to the number of selections in your parlay — the more selections, the bigger the boost.
This only adds to the entertainment of parlay betting, with punters not having to do anything different to earn a boosted parlay. However, some bookmakers might make these enhanced parlays sport or event specific.
- Money Back Betting Offers
This is typically a new customer offer in which the bookmaker refunds your first bet — usually via free bets — should it not win.
However, some sportsbooks will also offer money back offers for various sports such as soccer. For example, punters could receive a refund if they place a goals-related bet on a soccer match that ends in a stalemate.
The offer essentially gives punters a risk-free bet, but there’s still some risk involved as bookmakers will rarely refund customers with real cash. To make the most of this promotion, you’ve got to use the free bets you receive wisely.
- Boosted Bets
Such promotions are common among sportsbook, but they’re a handy way of punters garnering greater value for their bets. Some bookmakers may randomly boost odds, but, for the most part, punters will be able to see which markets have been boosted before the event begins.
The perks of boosted odds are obvious, but they could also tempt punters into staking more. To combat this, some bookmakers limit how much you can bet on a boosted market.
- Parlay Insurance
As fun as parlays can be, they can also be incredibly frustrating. It only takes one erroneous selection for your entire bet, no matter how big it is, to lose. Thus, bookmakers have tried to get rid of such frustration by introducing parlay insurance. Now, this offer isn’t as common as enhanced parlays which are borderline ubiquitous, so it’s worth doing some research into which sportsbooks offer it.
The insurance gifts punters a full or partial refund should just one leg of their parley let them down. This refund will often manifest as a free bet as opposed to real cash.
- Existing Customer Betting Offers
VIP/loyalty programs are imperative to retaining the interest of punters, especially high rollers who want to be rewarded for their betting from the bookmaker itself. The very best sportsbooks offer generous rewards for their punters that transcend mere free bets and free spins. Some will offer their customers the chance to win the most incredible real-life experiences.
- Special Events Promotions
Bookmakers will always put on a show when a major sporting event rolls around. Whether it’s the Super Bowl or March Madness, you can bet your bottom dollar that special promotions dedicated to such events are provided.
Popular Types of Bets
Here are some of the most popular types of bets that Indiana bettors make on a variety of sports.
- Moneyline Bets
This is as simple as it gets. If you make a moneyline bet, you’re betting on that team to win the contest. So, if you place a moneyline bet on the Indianapolis Colts to beat the Houston Texans, the Colts must win the contest for your bet to win. Your bet loses if the Ravens win or if they tie.
- Points Spread
Because of the lack of value typically associated with moneyline betting, punters will often turn to spread betting.
The point spread is the number of points that a team must win by for the bet to pay out. The favourite will have a ‘-‘ next to their points spread, while the underdog will have a ‘+’.
For example, let’s say the spread is: Indianapolis Colts (-7) @ Jacksonville Jaguars (+7). This means that, if you backed the Colts, they must win by more than seven points for your bet to be successful.
- Over/Under Betting
If you don’t fancy betting on the outcome of a game, over/under (totals) betting is a popular alternative.
With this one you’re betting on how many points will be scored in a game. The bookmaker will set a line, and you have to choose whether more or fewer points will be scored than that line.
For instance, the bookie might set the line for NFL match-up between the Colts and Jags at 46.5. 47 or more points will have to be scored for the over bet to win. Anything less and the under wins.
Parlay bets have us all dreaming of a vacation to Cancun. One day, a big one will come off. Parlays are what the Brits like to call an ‘accumulator’ or ‘acca’. It’s one big bet which relies on multiple bets — called ‘legs’ — winning.
Even if you have a mammoth eight-leg parlay and only one ‘leg’ lets you down, your bet is still a loser.
While they’re very challenging to pull off, the low stakes/high reward nature of such bets makes them incredibly popular. You could earn a fortune if the gambling Gods align.
- Prop Bets
A proposition (more commonly known as ‘prop’) bet is another bet type that doesn’t focus on the outcome of a sporting event. The most common type of prop bet involves players.
These bets focus on the player’s performance, with markets for such bets surging as of late. For example, you might want to bet on how many yards Gardner Minshew will throw, or how rushing yards Jonathan Taylor will gain in a particular game.
There are other types of prop bets, including game props, where you wager on something specific to happen in the game. For example, you might back a particular team to score over a certain number of field goals in the first half.
- Futures Bets
As its name implies, with futures bets you’re thinking long-term. You’re betting on the future outcome of a sporting event.
Such bets include Super Bowl winner, League MVP, and the total number of wins a team achieves in the regular season. You can also bet on seasonal stats like how many yards Patrick Mahomes will throw in the regular season, or how many yards Nick Chubb will rush for.
Where To Bet on Local Indiana Teams
It’s fair to say that there isn’t an array of professional sports teams in Indiana, with The Colts (NFL) and Pacers (NBA) being the two prominent franchises in the state. College sports, however, are hugely popular. Notre Dame sit among the most historically successful colleges in the NCAA, while Purdue and Indiana both ranked in the top five ahead of March Madness.
|Indianapolis Colts||Football||1953||Win Super Bowl LVIII +10000|
|Indiana Pacers||Basketball||1967||Win NBA Finals N/A|
|Purdue University||College basketball||1896||Win National Championship N/A|
|University of Notre Dame||College football||1887||Win National Championship N/A|
|Indiana State University||College basketball||1896||Win National Championship N/A|
|Indiana University||College basketball||1971||Win National Championship N/A|
Important Sports Events in Indiana 2023
Here’s a list of significant sporting events that Indiana sports fans will take a keen interest in this year and might fancy betting on:
- 15th April — 2023 NBA playoffs start
- 26th August — University of Notre Dame’s NCAA regular season starts
- 8th September — NFL regular season starts
- Mid-October — 2023/24 NBA regular season starts
Indiana’s gambling laws are pretty lenient, but punters cannot bet on esports, and nor can athletes who are younger than 18. Live betting is available at the discretion of the Indiana Gaming Commission. However, Hoosiers can bet on in-state college teams as well as NCAA games that take place in Indiana.
Indiana Sports Betting Timeline
Let’s take a look at the history of sports betting in Indiana:
- 1989 – Pari-mutuel betting legalized.
- 1994 – Harrah’s Hoosier Park opens in Anderson.
- 1995 – Off-track betting parlours open.
- 2002 – Horseshow Indianapolis, then known as Indiana Downs, opens in Shelbyville.
- 2019 – Sports betting legalized following signing of HB1015 in May.
- 2019 – First sportsbook opens in September.
- 2019 – Online sports betting begins in October.
States Where It Is Legal to Bet on Sports
Changes to federal law has facilitated the legalization of sports gambling in 31 states to some degree, and Indiana is currently one of those.
|State||Sports betting legal in person||Sports betting legal online|
Indiana Sports Betting – FAQs
Sports betting was legalized in Indiana in 2019. The first retail sportsbook was opened in September 2019.
At the time of writing, there are 16 online sportsbooks in operation.
DraftKings, BetMGM, and FanDuel are the best sportsbooks available in Indiana.
Punters can bet on college events, including in-state teams.
There aren’t too many professional franchises in the state — the Indianapolis Colts (NFL) and Indiana Pacers (NBA) are the only two. There are, however, several big college institutions such as Notre Dame.
ThePuntersPage Final Say
The legalization of Indiana sports betting in 2019 has brought about obvious benefits to the state. While not a major sporting state, there are many options available to punters, with numerous online sportsbooks accessible, including all of the US’ premier bookmakers.
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2 Lange, K. (n.d.). Holcomb signs bill legalizing sports betting, allowing lucrative casino industry changes. [online] The Indianapolis Star. Available at: https://eu.indystar.com/story/news/politics/2019/05/08/governor-holcomb-signs-bill-legalizing-indiana-sports-betting-allowing-terre-haute-casino/1128554001/ [Accessed 24 Apr. 2023].
3 Kredell, M. (2019). Indiana Sports Betting 2019 — Indiana Sportsbooks, Mobile Apps & Sites. [online] Legal Sports Report. Available at: https://www.legalsportsreport.com/indiana/.
4 PlayIndiana. (n.d.). Indiana Sports Betting Revenue. [online] Available at: https://www.playindiana.com/revenue/#:~:text=Each%20licensed%20sportsbook%20reports%20the [Accessed 24 Apr. 2023].
5 Boydgaming.com. (2023). Indiana Hotels & Casinos | Boyd Casinos, Hotels, & Shows. [online] Available at: https://www.boydgaming.com/locations/indiana [Accessed 24 Apr. 2023].