If you thought sports betting was going to be the path to freshly paved new roads, Indiana would like to have a word with you
A top Indiana budget writer doesn’t expect much of a state tax revenue boost if legislators approve proposals to legalize sports betting and allow new casinos in Gary and Terre Haute.
Sports betting is projected to bring in $12 million a year, with the new casinos and table games at horse track casinos near Indianapolis possibly adding about $30 million more, said Republican House Ways and Means Committee co-chairman Todd Huston of Fishers. That amounts to about one-third of 1% of expected state tax collections.
As long as you don’t sit here thinking your state is going to get rich off sports betting, you’ll be just fine with sports betting in your state. Might as well let people lose their money and collect taxes on it instead of some guy in Costa Rica profiting.