
Indiana Lottery to send projected $362M surplus back to state
The Hoosier Lottery expects to make $1.7 billion in sales by the end of the fiscal year, which ends June 30. That’s up 1.6% compared with last year.
The Hoosier Lottery expects to make $1.7 billion in sales by the end of the fiscal year, which ends June 30. That’s up 1.6% compared with last year.
More than 40 athletes from the University of Iowa and Iowa State University could be facing discipline from both law enforcement and the NCAA for impermissible online wagering. The NCAA consequences could be far worse than the legal ones.
Two-thirds of the country now offers legal sports betting, with additional states likely to join in coming months or years.
Some say the NFL is hypocritical for suspending players for gambling after embracing legalized wagering as a major source of revenue. Others see it as necessary for the league to maintain public confidence that its games are on the up and up.
While two-thirds of the country now offers legal sports betting, only six states offer online casino gambling, confounding industry hopes that the rapid growth of sports betting would also bring internet casino wagering along with it.
Nationwide, legal sports betting has generated more than $3 billion in state and federal taxes since the 2018 Supreme Court ruling allowing it, according to the American Gaming Association.
A proposal to legalize online casino gambling in Indiana has failed to gain traction for a third consecutive year despite earlier optimism about its prospects. A powerful confluence of factors led to its demise.
Investigators say Marie Carson illegally transferred $573,836 in church and school money into her private accounts from 2008 to 2021 and used much of the money to pay for casino gambling and an annual month-long vacation to Florida.
The American Gaming Association forecasts that 1 in 5 American adults will place a bet on Sunday’s NFL championship game between the Philadelphia Eagles and the Kansas City Chiefs.
Indiana’s horse racing industry has more than doubled in economic value in the past decade, according to a study led by Purdue University.
Rep. Ethan Manning, a Republican from Logansport, said he’ll introduce a bill to allow online casino games, taxing revenue at an 18% rate and sharing some of the proceeds with cities and counties where casinos are located.
Every sportsbook has terms of service that establish how it handles such scenarios, but the fantasy football side of the equation is much trickier to solve.
A recent study suggests Hoosiers are likely spending hundreds of millions of dollars a year in illegal, online gambling—things like poker and slot games.
Many U.S. sportsbook operators are seeking to boost profits by weeding out winning customers. Bettors who show signs of savvy are being limited faster and more aggressively than in the past.
Sixteen states reported quarterly highs in overall gambling revenue, including five of the six largest markets: Indiana, Michigan, Nevada, New York and Pennsylvania.
There are six states–Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia–that offer the full spectrum of online gambling, from virtual slot machines to online card games. Nevada also allows online gambling but limits it to online poker.
Indiana could earn between $341 million and $943 million in taxes from iGaming over three years, depending on the rate adopted.
Indiana’s 12 casinos raked in $2.5 billion from July 2021 through June 2022, according to the Indiana Gaming Commission’s annual report.
Charitable gambling—once a juggernaut in Indiana—has declined in recent years due to the challenges navigating the COVID-19 pandemic and its ensuing supply chain disruptions and inflation, with many organizations closing down completely.
A nationwide investigation of state lotteries by the Howard Center for Investigative Journalism at the University of Maryland found that lottery retailers are disproportionately clustered in lower-income communities in nearly every state.