Sports Betting Could Generate Millions In Indiana

A report from the state says that sports betting could generate an estimated 466-million dollars annually in statewide economic impact by the fifth year if it’s legalized by the Indiana General Assembly.
The analysis was prepared for the Indiana Gaming Commission, and includes anticipated revenue from both in-person and mobile betting and takes into account both direct and indirect economic impact.
If sports betting were legalized in Indiana, retail and mobile systems could bring in more than 56-million in direct economic impact in the first year. Retail alone would generate 30-million.  By the fifth year, mobile and retail could increase to 256-million annually in direct economic impact.
The analysts projects 729 full-time equivalent jobs by the fifth year.
Assuming a 9.25-percent tax rate on sports betting gross revenue, along with licensing fees, the state could receive tax revenues of more than 23-million dollars a year by the fifth year for a total of 89-million in the first five years.
 

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