Indiana Players Placed Over $436 Million In Just Four Months: Indiana sports betting players are clearly obsessed with the new gaming option. The dough that was captured during the first four months of legalized sports betting in Indiana, was more than advertisers paid for the Super Bowl. The amount of money that Indiana sports betting players spent in four months is really an astounding figure.
The amount is enough to buy one of the highest-priced paintings in the world, ‘Leonardo Di Vinci’s ‘Salvador Mundi.’ Gaming officials in the Hoosier State relayed a few factors for the astronomical amount of bets that were placed from September to December of 2019. In December alone over $161.8 million was spent by players. Legalized sportsbooks in Indiana launched in time for NFL and NBA season, It also launched in time for college football and college basketball. Gaming officials also said that betters from other states are coming into Indiana and placing sports bets.
A Professor At Ball State Said That Part Of The Huge Revenue Is Due To Convenience
Micheal Hicks a professor at Ball State University, said the convenience of the sportsbook app that is up and running makes sports betting very easy. Hicks said,’ you can go out to a sports bar, watch a game, have a few beers and place bets on your phone.” Hicks, who has been a professor at the Muncie, Indiana college for more than two decades, is not surprised by the huge haul.
Hicks elaborated, “Broken down if every one of the state’s 6.7 million residents placed one bet in the past four months that’s $65 dollars a person. Most casino visitors are simply treating the casino as a substitute to going to a movie and having popcorn.” Hicks is the director of economic affairs at Ball State. State gaming officials charged Hicks and a research team to gather data about gaming in Indiana. Hicks did want to qualify a few issues surrounding gambling in his state. He said ‘it’s not like every Hoosier is making sports bets. It comes down to about 20% of the population making 80% of the bets.
Hicks Says The Sports Betting Market Is Full Of High Rollers & Lower Spending Better
Hicks according to the data his research team uncovered, said the bets are being placed by ‘high rollers’ That he says is the biggest part of the sports betting market in Indiana. Hicks heaped praise on the Supreme Court that lifted a ban on all sports betting outside of Nevada in 2018. Hicks said the move was ‘stellar’ and created a lot of found money for Indiana and other states that have embraced sports betting.
Just about a year after Indiana Governor Eric Holcomb signed a sports betting bill into law, Indiana offered sports betting. In September of 2019, Indiana became the 13 states to reap the rewards of that Supreme Court ruling. Hicks said, ‘2020 should be a fantastic year for sports betting, as it will be the first full year of sports betting.
In just four months of sports betting in Indiana, the state collected $3.7 million in tax revenue.
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