Sports Betting is Days Away from becoming Legal In Indiana
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INDIANAPOLIS (AP) - Sports betting is days away from ending up being legal in Indiana and the state's gambling establishments are lining up to begin gathering wagers.

Indiana will end up being the 12th state - and the first in the middle of significant Midwest markets - with sports wagering when a new state law works Sunday.

A minimum of three casinos - ones near Indianapolis, Chicago and Cincinnati - plan to open on-site sports wagering areas that day. Some others plan comparable openings before the NFL season kicks off on Sept. 5.

The Indiana Gaming Commission voted Wednesday to approve sports betting regulations. Eleven of the 13 state-regulated gambling establishments and all three of its off-track wagering parlors have received short-lived sports wagering licenses. The gambling establishments are still working to launch mobile wagering apps in the state.

WHEN WILL SPORTS BETTING START?

A flurry of sports books are set to open in early September as they acquire approval from state regulators.

Caesars Entertainment is Indiana's greatest gambling establishment operator and is targeting a Sunday start for sports wagering at its Indiana Grand casino in Shelbyville, near Indianapolis. It plans to offer it at its OTB in downtown Indianapolis on Tuesday and at its Horseshoe Hammond casino simply throughout the state line from Chicago the following day.

Rival Penn National is also jumping quickly with Sunday starts planned for its casinos that also tap huge close-by city locations: Ameristar East Chicago and Hollywood in Lawrenceburg, which is a brief drive from Cincinnati and its northern Kentucky residential areas.

Lots of hoopla will accompany the openings. Boyd Gaming says previous Chicago Bears star Brian Urlacher will place the first bet at its Blue Chip casino in Michigan City on Sept. 5, while the Lawrenceburg casino prepares an event Sept. 7 with retired Cincinnati sports stars Anthony Munoz of the Bengals and Tony Perez of the Reds.

Several casinos plan to start mobile betting this fall however have not set dates. How quickly mobile betting becomes readily available will depend mostly on the gambling establishments, stated Sara Gonso Tait, executive director of the Indiana Gaming Commission.

A WINDFALL FOR INDIANA?

Iowa became the first Midwestern state with legalized sports wagering on Aug. 15. But Indiana's distance to several large cities makes sports wagering available to more potential bettors.

Sports betting usually provides only slim profit margins for gambling establishments, though operators say it is a method to assist draw in bettors. Indiana's jump on neighboring states comes amidst a $482 million - or nearly 18% - drop in gambling profits at its gambling establishments since 2012 in the middle of competition from brand-new casinos in Cincinnati and southern Michigan.

An Indiana legislative report jobs that the state will collect only about $13 million a year in profits from its 9.5% tax on the casinos' sports bets earnings.

Sports wagering income has disappointed expectations in many states that rapidly legalized it after the U.S. Supreme Court cleared the way with a ruling last year. The tax rates vary commonly amongst states: Pennsylvania set its rate at 36% - four times that of neighboring New Jersey - and Iowa's is near the bottom, at 6.75%.

Regulators are working on sports wagering guidelines in Illinois, which legalized it in June however hasn't set a date for it to start.

WHAT ARE INDIANA'S RULES?

Gamblers should be 21 or older in order to place a bet. Indiana will enable the gambling establishments to take wagers on lots of professional, college and worldwide events, including football, basketball, baseball, car racing, hockey, soccer, boxing, golf and Olympic competitions. No wagering is allowed on high school or youth sporting events, or e-sports.

will have to sign up and prove their age with a casino before being able to use a mobile betting app. Those online apps, however, should utilize geofencing technology so that the bets are put within the state borders, suggesting any Chicago citizens would need to cross into Indiana each time they wished to put a bet utilizing their mobile phone.