ccording to figures released by Indiana Gaming Commission, sports gambling is a big hit in the state with Hoosiers having wagered nearly $436 Million since September when the activity became legal.
In the first month of operation, Hoosiers had to place bets in sportsbooks, which resulted in $35,215,416 wagered, CBS4Indy reports. By December, a majority of the bets were placed on mobile sports, with a total amount of $161,808,925 wagered.
The first 4 months of betting was anchored by football, which saw more than 40% of the action. Now that football season is coming to a close, the numbers shouldn't slow down.
If the betting stays on pace, Indiana would be on pace to see more than $11 Million added to the general fund in the first year. State Senator Ron Alting has proposed a bill that would allocate that money for teacher pay increases.
"Will it solve the whole problem for increasing teacher salaries? Obviously not," Alting said. "But it's a start in the right direction.”
However, competition could cut into that revenue. Right now Indiana is one of 13 states where sports gambling is up and running, but 6 other states including border states like Michigan and Illinois just made it legal. Kentucky and Ohio join more than a dozen other states that will take up the issue this year.