State of Indiana Gains $813,000 of Tax Revenue First Month of Sports Gambling

Indiana gained a new stream of tax revenue by legalizing sports gambling earlier this year.¬†While tax revenue stream from sports gambling will be up and down, it will not take long for politicians to spend it unless it gets defined to specific area of the budget. (maybe paying down the state’s debt)

The Indiana Gaming Commission says the opening month of sports betting at Indiana casinos attracted $34.5 million in wagers.

Data released Thursday by the commission showed football was the most popular sport with $20.7 million in bets, or 60% of the wagers. The (Northwest Indiana) Times reports football was followed by parlay wagers on the outcome of multiple games or sports (28%), baseball (10%), and other sports (2%).

Indiana’s share of the sports betting proceeds in September was $813,000.

Source: WSBT.com

Published by Hoosier Econ

Located out of Central Indiana. Blogger of economics, politics and societal trends.

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