iGaming set to be legalised in Indiana
Representative Alan Morrison has started to get directly involved in the legalization of iGaming in the state of Indiana. By enforcing Morrison’s House Bill 1406, he is trying to push for online gambling freedom within Indiana. The Bill will legalize all types of gambling within the state, specifically including online casino gambling, or iGaming.
More precisely, the Bill would also call for licences to be completely available to Indiana’s established casinos. Nonetheless these would come at a cost, as do most licences. In order to obtain one of these master licences, each land-based casino would be required to apply for an interactive gaming licence. This comes at a high up-front cost of $500k (£366k) then an ensuing $50k (£36.6k) renewal fee each year.
Despite the higher licence fees, there will still be strict restrictions for licence holders. Holders will not be allowed to provide any more than three branded skins. Third parties could manage the skins, but they must apply for the interactive gaming licence as well, but at a lower one-off fee of $100k (£73.3k) then the annual fees of $25k (£18.3k).
And if the fees weren’t enough, those holding the licence would be taxed about double than the current rates that are in place for sports betting (9.5%). Furthermore, licensees are also subject to 18% tax on gross revenue. If the bill is passed this year, it will mean that the market would be open from the 1st of September 2021. License applications will be available to established casinos and third parties at the start of July 2021.
There will be an expected expect large amounts of revenue generated if the Bill was to be passed. Research suggests that the launch could most likely generate over $10m (£7.33m) in new state taxes. Clearly, there are many new opportunities for affiliates in 2021 that should be kept in mind.