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.
Despite growing approval, 71% of Americans say they are “very” or “somewhat” concerned that the increasing availability of sports betting will lead to more people becoming addicted to gambling.
This spring’s decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs aimed at shoring up the post-pandemic economy.
The lounge is part of a larger agreement between the gambling company and Indianapolis Motor Speedway that makes Caesars the official sports betting partner of the racetrack and the Indy 500.
In just four years, the industry has worked itself into the daily lives of millions of Americans—from those who plunk down money hoping for a certain outcome to those who watch TV broadcasts with odds calculations to those struggling with gambling problems.
The casinos collectively also had their best first quarter ever, falling just short of the $14.35 billion they won from gamblers in the fourth quarter of last year, which was the highest three-month period in history.
