When the Bears kick off the NFL season against the Packers on Sept. 5, fans will be able to do something for the first time in team’s storied 100-year history: legally wager on the game in the Chicago area. But they’re going to have to go to Indiana to do it.
On Sunday, Indiana will become the latest state to offer legalized sports betting, jumping on a growing trend and getting a potentially big head start on Illinois, which is months away from offering it. Both states are seeking hundreds of millions of dollars in annual revenue siphoned off from a booming black market.
Chicagoans who can’t wait for Illinois venues to offer sports wagering will have at least two nearby choices in northwest Indiana. After getting the regulatory green light Wednesday, Ameristar Casino East Chicago is set to open its sports book Sunday, while the Horseshoe Hammond will launch Sept. 4.
“Our goal is to be open in time for the Bears-Packers game the following night,” said Dan Nita, regional president of Caesars Entertainment, the parent of Horseshoe Hammond.
For now, sports bets must be placed within the casinos. In coming months, patrons will simply have to cross the state line to wager via a mobile app.
Legal sports betting is still a nascent industry in the U.S., and was available only in Nevada until a Supreme Court ruling last year struck down a 1992 federal law and opened it up to other states. New Jersey and Pennsylvania were among the first to pass legislation and offer sports betting last year at casinos, racetracks and other venues.
Indiana is now one of about dozen states to offer legalized sports betting, just behind Iowa, which launched Aug. 15. Both states took a much faster track than Illinois, whose gambling bill became law in June.
The Indiana sports wagering bill was signed into law in May, and the state executed an all-out blitz to get the sports books open in September.
“We knew this was something the legislature wanted done sooner rather than later,” said Jennifer Reske, deputy director of the Indiana Gaming Commission. “So our regulatory efforts have been focused on accommodating their timelines.”
Meanwhile, the Illinois Gaming Board opened a 30-day public comment period Tuesday as a step toward establishing a regulatory framework to allow sports wagering. Board administrator Marcus Fruchter declined to give a timeline for when sports betting would go live.
The Illinois Sports Wagering Act allows the state’s 10 casinos, three horse tracks and the seven largest sports facilities to acquire a sports gaming license at an initial fee of no greater than $10 million each. Three online-only licenses will be made available at $20 million each.
Operators must pay the initial fee by July 2020, but the state has not even started taking applications.
In Indiana, each of the state’s 12 casinos and three off-track betting parlors can obtain a sports wagering certificate for $100,000. Majestic Star Casino in Gary is the only eligible facility that has yet to file an application, Reske said.
Both states foresee big paydays from sports wagering revenue.
Illinois has set the tax rate at 15% of adjusted gross receipts for the sports books, while Indiana is looking for a smaller piece of the sports wagering pie, imposing a 9.5% tax.
In separate studies, Eilers & Krejcik Gaming, a California-based research and consulting firm, projected annual revenues of $256 million for Indiana and $756 million for Illinois within five years of their respective launches of sports betting.
Having sports betting in adjacent states may help Illinois and Indiana rather than hurt them, said Chris Grove, managing director of sports betting for Eilers & Krejcik.
“If anything, the more neighboring states that legalize, the better, as you're likely to see more marketing and more consumer awareness overall,” Grove said.
The Indiana casinos can offer wagering on 19 sports, ranging from basketball and football to bowling and darts. Horseshoe Hammond plans to focus on the Chicago teams — the Bears, Bulls, Cubs, White Sox and Blackhawks — offering additional betting opportunities that may not be available in Vegas.
Such a specialized bet could, for example, offer odds on whether the new Bears kicker will hit the crossbar on a field goal attempt, or perhaps even notch the rare “double doink” that ended last season’s playoff run against the Eagles.
“We’re envisioning that with our local teams as a fun extra way to add some extra excitement — something that could be unique when you come to our property that other properties may not offer,” Nita said.
Tucked away at the back of the main casino floor at Horseshoe Hammond, the sports book is something of an oasis amid the nonstop clanging of slot machines that occupy much of the gambling real estate. A video wall, self-betting kiosks and an array of comfy chairs create an inviting environment to while away a Sunday afternoon of football — and maybe make a little money on the side.
While there are only 108 seats at the sports book, the casino can open its 2,500-seat theater for big screen viewing during significant games, when interest — and presumably wagering — is high.
Seating may not be a problem. In states that have legalized sports betting, mobile represents the lion’s share of the revenues and the opportunity, said Grove, the sports betting consultant.
In Indiana, patrons will not need to establish a sports wagering account at a bricks-and-mortar facility to bet online, once it goes live. They simply need to be within the state when they place their bets.
The operators are required to use geofencing technology in their mobile apps that tracks where the bets are placed, cutting off access outside the state. GeoComply, a Canadian company, will provide the required location technology for the mobile sports wagering operators.
A boat located on Lake Michigan, Horseshoe Hammond is so massive — and moored so securely — that it would take a force majeure to actually set sail. The sports book has been quietly taking shape since mid-July in a 5,000-square-foot space on the casino floor formerly used for special promotions.
Cordoned off by a temporary blue divider ringing the construction area like a shower curtain, the casino has installed plush theater-style seats, couches and tables facing 16 large TV screens mounted above a long betting counter.
The nearby food court and cocktail servers will cater to both bettors looking to wager on a single game and those settling in for a long college football Saturday of watching and wagering, Nita said.
One week out from the target launch date, workers pulled down irrelevant signage from the space’s previous incarnation, and hurried to put the finishing touches on The Book, which remained out of view — and seemingly of little interest — to a smattering of slot machine players on the other side of the curtain.
The casino plans to open its sports book at 11 a.m. Wednesday, with former Bears running back Matt Forte and Hammond Mayor Thomas McDermott scheduled to make appearances. Nita is confident it will be ready to go, but acknowledged it was a race to the finish line.
“It’s a big undertaking,” Nita said. “It’s a pretty condensed time frame, just from a construction standpoint."
While Indiana has first-mover advantage over Illinois in sports wagering, the long-term play may favor the gambler’s home state, especially after the launch of mobile betting, when a bettor need not even leave the couch to take the Bears and the points.
“Sports bettor in Indiana, sports bettor in Illinois, two to four years out from now, are likely going to have very similar experiences,” Grove said.
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On Sunday, Indiana will become the latest state to offer legalized sports betting, jumping on a growing trend and getting a potentially big head start on Illinois, which is months away from offering it. Both states are seeking hundreds of millions of dollars in annual revenue siphoned off from a booming black market.
Chicagoans who can’t wait for Illinois venues to offer sports wagering will have at least two nearby choices in northwest Indiana. After getting the regulatory green light Wednesday, Ameristar Casino East Chicago is set to open its sports book Sunday, while the Horseshoe Hammond will launch Sept. 4.
“Our goal is to be open in time for the Bears-Packers game the following night,” said Dan Nita, regional president of Caesars Entertainment, the parent of Horseshoe Hammond.
For now, sports bets must be placed within the casinos. In coming months, patrons will simply have to cross the state line to wager via a mobile app.
Legal sports betting is still a nascent industry in the U.S., and was available only in Nevada until a Supreme Court ruling last year struck down a 1992 federal law and opened it up to other states. New Jersey and Pennsylvania were among the first to pass legislation and offer sports betting last year at casinos, racetracks and other venues.
Indiana is now one of about dozen states to offer legalized sports betting, just behind Iowa, which launched Aug. 15. Both states took a much faster track than Illinois, whose gambling bill became law in June.
The Indiana sports wagering bill was signed into law in May, and the state executed an all-out blitz to get the sports books open in September.
“We knew this was something the legislature wanted done sooner rather than later,” said Jennifer Reske, deputy director of the Indiana Gaming Commission. “So our regulatory efforts have been focused on accommodating their timelines.”
Meanwhile, the Illinois Gaming Board opened a 30-day public comment period Tuesday as a step toward establishing a regulatory framework to allow sports wagering. Board administrator Marcus Fruchter declined to give a timeline for when sports betting would go live.
The Illinois Sports Wagering Act allows the state’s 10 casinos, three horse tracks and the seven largest sports facilities to acquire a sports gaming license at an initial fee of no greater than $10 million each. Three online-only licenses will be made available at $20 million each.
Operators must pay the initial fee by July 2020, but the state has not even started taking applications.
In Indiana, each of the state’s 12 casinos and three off-track betting parlors can obtain a sports wagering certificate for $100,000. Majestic Star Casino in Gary is the only eligible facility that has yet to file an application, Reske said.
Both states foresee big paydays from sports wagering revenue.
Illinois has set the tax rate at 15% of adjusted gross receipts for the sports books, while Indiana is looking for a smaller piece of the sports wagering pie, imposing a 9.5% tax.
In separate studies, Eilers & Krejcik Gaming, a California-based research and consulting firm, projected annual revenues of $256 million for Indiana and $756 million for Illinois within five years of their respective launches of sports betting.
Having sports betting in adjacent states may help Illinois and Indiana rather than hurt them, said Chris Grove, managing director of sports betting for Eilers & Krejcik.
“If anything, the more neighboring states that legalize, the better, as you're likely to see more marketing and more consumer awareness overall,” Grove said.
The Indiana casinos can offer wagering on 19 sports, ranging from basketball and football to bowling and darts. Horseshoe Hammond plans to focus on the Chicago teams — the Bears, Bulls, Cubs, White Sox and Blackhawks — offering additional betting opportunities that may not be available in Vegas.
Such a specialized bet could, for example, offer odds on whether the new Bears kicker will hit the crossbar on a field goal attempt, or perhaps even notch the rare “double doink” that ended last season’s playoff run against the Eagles.
“We’re envisioning that with our local teams as a fun extra way to add some extra excitement — something that could be unique when you come to our property that other properties may not offer,” Nita said.
Tucked away at the back of the main casino floor at Horseshoe Hammond, the sports book is something of an oasis amid the nonstop clanging of slot machines that occupy much of the gambling real estate. A video wall, self-betting kiosks and an array of comfy chairs create an inviting environment to while away a Sunday afternoon of football — and maybe make a little money on the side.
While there are only 108 seats at the sports book, the casino can open its 2,500-seat theater for big screen viewing during significant games, when interest — and presumably wagering — is high.
Seating may not be a problem. In states that have legalized sports betting, mobile represents the lion’s share of the revenues and the opportunity, said Grove, the sports betting consultant.
In Indiana, patrons will not need to establish a sports wagering account at a bricks-and-mortar facility to bet online, once it goes live. They simply need to be within the state when they place their bets.
The operators are required to use geofencing technology in their mobile apps that tracks where the bets are placed, cutting off access outside the state. GeoComply, a Canadian company, will provide the required location technology for the mobile sports wagering operators.
A boat located on Lake Michigan, Horseshoe Hammond is so massive — and moored so securely — that it would take a force majeure to actually set sail. The sports book has been quietly taking shape since mid-July in a 5,000-square-foot space on the casino floor formerly used for special promotions.
Cordoned off by a temporary blue divider ringing the construction area like a shower curtain, the casino has installed plush theater-style seats, couches and tables facing 16 large TV screens mounted above a long betting counter.
The nearby food court and cocktail servers will cater to both bettors looking to wager on a single game and those settling in for a long college football Saturday of watching and wagering, Nita said.
One week out from the target launch date, workers pulled down irrelevant signage from the space’s previous incarnation, and hurried to put the finishing touches on The Book, which remained out of view — and seemingly of little interest — to a smattering of slot machine players on the other side of the curtain.
The casino plans to open its sports book at 11 a.m. Wednesday, with former Bears running back Matt Forte and Hammond Mayor Thomas McDermott scheduled to make appearances. Nita is confident it will be ready to go, but acknowledged it was a race to the finish line.
“It’s a big undertaking,” Nita said. “It’s a pretty condensed time frame, just from a construction standpoint."
While Indiana has first-mover advantage over Illinois in sports wagering, the long-term play may favor the gambler’s home state, especially after the launch of mobile betting, when a bettor need not even leave the couch to take the Bears and the points.
“Sports bettor in Indiana, sports bettor in Illinois, two to four years out from now, are likely going to have very similar experiences,” Grove said.
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