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.
The expansion will add 30,000 square feet to the gambling floor and 100 jobs at the venue, plus additional slot machines and table games.
The American Gaming Association predicted that $3.1 billion will be wagered on this year’s tournament, a figure that includes legal bets as well as those placed with illegal bookies or offshore web sites.
Indiana’s governor is supporting the Hoosier Lottery’s consideration of starting online games or ticket sales while state legislators are looking to have their say on whether those will be allowed.
Sporttrade Inc. offers users a betting exchange through which they can trade sports bets as if they were stocks.
Caesars Entertainment Inc. on Tuesday changed the name of the venue from Indiana Grand Racing & Casino to Horseshoe Indianapolis Racing & Casino.
Indiana lawmakers are looking to block the Hoosier Lottery from starting online games or ticket sales without their permission.
The American Gaming Association forecasts that over $7.6 billion will be wagered on pro football’s championship game set for Sunday.
Kentucky-based Churchill Downs Inc. has filed to rezone nearly 50 acres near Interstate 70 and State Road 46 to build the Queen of Terre Haute Resort.
The Indiana Gaming Commission said the state’s online and retail sports wagering operations could accept bets on alpine skiing, bobsled, cross-country skiing, curling, ice hockey, short-track speed skating and speed skating.
In September, the National Council on Problem Gambling released a study that showed the number of Americans who bet on sports grew by 30 percent in an 18-month period, an increase of 15.3 million bettors.
Based on data from the Indiana Gaming Commission, sports bettors placed more than $460 million in wagers in December, up from the November handle of $463.7 million.
One of the companies that was pass over for the license, Las Vegas-based Full House Resorts, has sued the Indiana Gaming Commission, claiming it didn’t follow state law when it picked Churchill Downs to develop the casino.
Indianapolis-based “The Pat McAfee Show” and online gambling giant FanDuel have agreed to terms on a massive new four-year sponsorship deal, according to media reports.
Bill Miller, president of the American Gaming Association—the gambling industry’s national trade association—called the current level of sports betting ads “an unsustainable arms race.”
The company plans a 38,000-square-foot expansion at Hoosier Park that will result in 100 more slot machines, along with restaurant and bar space and a new drive-through area for valet parking.
