FanDuel Indiana Online Sportsbook to Launch Tuesday
Indiana sports bettors are about to have another legal online betting option to wager on the Colts — and pretty much every other professional team.
FanDuel is set to launch its mobile sportsbook after the Indiana Gaming Commission gave the company permission for a Tuesday start. FanDuel will be the third legal online sportsbook, joining DraftKings as well as BetRivers, which is operated by Rush Street Interactive.
Eligible Indiana bettors can place bets with any of these three sites from a mobile device in the state. Bettors can also place a bet in person at 10 brick-and-mortar sportsbooks.
Earlier this year Indiana became just the 12th state to take a legal sports bet at a physical sportsbook, but it’s the state’s growing online offerings that have stakeholders most excited. Other states with online sportsbooks have seen upward of 80% of total betting handle come from the internet. Indiana, now with a trio of offerings currently and more to come, could see similar figures.
Hoosier State bettors placed more than $35 million in bets in the month of September, the state’s first month with legal sports gambling. DraftKings and BetRivers took their first online bets Oct. 3, meaning the figure should be significantly higher in October, especially now with a third online option.
Indiana sports betting could soon grow into one of the more robust per capita markets in the country. It joins Pennsylvania, West Virginia and New Jersey as the only states with mobile registration from anywhere within its border and multiple competing third-party vendors. Other states either require in-person registration at a casino before online wagering; offer no legal online wagering; only accept online bets placed from within a casino; or permit online wagering exclusively through a sole-source, government-controlled entity.
FanDuel Enters New Market
FanDuel’s launch Tuesday extends the footprint of one of the more dynamic companies in the rapidly expanding U.S. sports betting market.
Already with physical sportsbooks in New York, New Jersey, Pennsylvania, Iowa and West Virginia, FanDuel is now distinguishing itself from a crowded group of competitors in Indiana. The online component is sure to bolster its existing Indiana land-based partners, Blue Chip Casino in Michigan City and Belterra Casino Resort in Florence.
FanDuel is owned by European gaming giant Flutter Entertainment, which owns iconic betting brands PaddyPower and BetFair. Flutter has marketed its American offerings under the FanDuel branding, which has built strong name recognition in the U.S. through a blitz of advertising during the rise of daily fantasy sports games several years ago.
That marketing success has helped FanDuel become one of the highest-grossing sportsbooks in New Jersey, which rivals Nevada as the nation’s highest-grossing market. FanDuel’s name recognition and early entry to the Indiana online sports betting market should also help the company become a leading sports betting purveyor there.
Successful Legislation Boosts State
Indiana’s speedy start is thanks to smart legislation and quick implementation by state officials.
Lawmakers in Indianapolis moved expediently during their 2019 legislative session to approve a comprehensive sports betting bill that allowed the state’s commercial gaming entities brick-and-mortar sportsbooks as well as up to three online licenses, or “skins,” apiece. Combined with easy registration requirements, a wide variety of betting options and a competitive tax rate, the bill drew bipartisan support in the General Assembly and praise from stakeholders in the industry.
Gov. Eric Holcomb signed the bill into law May 8 and Indiana casinos were able to take bets by Sept. 1, one of the swiftest turnarounds of any state from bill signing to first bet. This allowed Indiana casinos to take bets ahead of the 2019 NFL season and the vast majority of the college football season.
Already operational for the lucrative football betting season, Indiana is only furthering its revenue possibilities with the launch of a big-name operator like FanDuel. The latest entrant into the online marketplace only furthers Indiana’s potential through the rest of 2019 and in the future.