The BetMGM mobile sportsbook is set to become today the newest entry into Indiana’s sports betting field after the Hoosier State’s gambling regulator gave the operation the green light to go live.
BetMGM is the result from the collaboration between Las Vegas casino operator MGM Resorts International and major European gambling group GVC Holdings. Indiana marks the fourth state where the digital sportsbook is set to go live.
News about BetMGM’s imminent launch in Indiana arrive on the heels of last month’s announcement that the Indiana Gaming Commission granted the operation a temporary vendor license.
The online and mobile sports betting product will operate in the Hoosier State through a licensing agreement it has previously signed with Belterra Casino Resort in Florence, IN. The same casino last September opened a retail sportsbook with FanDuel.
Indiana is the fourth state where the BetMGM digital gambling platform has been authorized to enter. The desktop and mobile betting solution is fully live in New Jersey with MGM’s Borgata Casino, in West Virginia with the The Greenbrier, and in Nevada where MGM operates a multitude of luxury casino resorts.
The launch of BetMGM across new states grows GVC’s presence across the US. Expansion in the lucrative US sports betting space has been a core element in the European gambling giant’s growth strategy, just as it is the case with a number of other gambling companies from across the pond, since the US Supreme Court struck down a federal ban on athletic gambling in May 2018.
Gaming Commission Deems BetMGM Suitable to Operate in Indiana
News about the upcoming launch of the BetMGM app in the Hoosier State emerged Monday morning when Indiana Gaming Commission Executive Director Sara Gonso Tait said in a note that the operation “has substantially demonstrated to the satisfaction of the Commission that its mobile sports wagering operation meets the requirements of Indiana Code Article 4-38, the Commission’s Emergency Regulations, all of Commission Directives related to sports wagering activities.”
BetMGM is about to enter a very dynamic market that has seen a stable growth in the months after sports betting became legal in Indiana and first sportsbooks were launched.
The legalization of sports betting was part of a sweeping gambling reform that the state Legislature and Gov. Eric Holcomb authorized in the summer of 2019.
The state’s first retail sportsbooks were launched in early September, while first betting apps were rolled out the following month. Legal sports betting quickly gained momentum in Indiana, recording a 160.4% growth in betting handle in October, the second full month of athletic gambling.
The growth has continued into the following months, although at a more moderate pace. In January, the state’s retail and digital sportsbooks took $161.8 million in bets, up 5.57% from December 2019. Online betting handle rose approximately 12% last month, and at $123.4 million it accounted for nearly three-quarters of Indiana’s overall bets processed in January.