Indiana is moving closer to bringing online casino gaming into the fold, and if things go as planned, Hoosiers may soon have access to legal digital gambling. House Bill 1432 (HB 1432), led by Representative Ethan Manning, just passed the House Public Policy Committee with a 9-2 vote. That’s a big step, but the fight isn’t over yet–now, the bill heads to the House Ways and Means Committee for financial scrutiny.

Online casinos currently provide a structured and safe way to gamble for real money in states where local iGaming platforms aren’t legal as yet. This is especially true of crypto-based, offshore, and no verification casinos, as these allow players to register without submitting their ID for verification. And by using crypto, players are guaranteed another level of security, privacy, and anonymity. These sites usually offer niche perks like secure transactions, fair gaming, and fast payouts to attract players. 

Now, Indiana lawmakers seem to be taking a similar approach with HB 1432, aiming to shift current unregulated online gambling into a legally controlled industry. By doing so, the state hopes to protect players while tapping into what could be a massive revenue stream.

So, what’s in the bill? A lot. Firstly, it allows Indiana’s casinos and racetracks to apply for online gaming licenses, costing a cool $500,000 per license. Each location could operate up to three online casino brands (or “skins”), giving multiple operators room to enter the market. Tax-wise, the bill starts at 26% of gross revenue but introduces a tiered structure in 2026, fluctuating between 22% and 30%. 

The law should ideally aim to strike a balance between protecting players from unfair practices while encouraging growth in the sector. Lawmakers seem aware of this, which is why HB 1432 includes funding for social awareness initiatives. The bill mandates the creation of the Indiana Responsible Gambling and Problem Gambling Services Program, backed by annual fees from online gaming operators.

But let’s talk numbers–because, in the end, money is what will likely make or break this bill. A 2022 analysis report estimated that Indiana’s online gaming industry could generate somewhere between $500 million and $1 billion annually in gross revenue. That translates to anywhere from $119 million to $253 million in tax dollars each year. Most of that money would flow into the Indiana General Fund, meaning it could help fund schools, roads, healthcare, or whatever else lawmakers prioritize.

Naturally, not everyone is on board. Some brick-and-mortar casino operators worry that online platforms could eat into their revenue, reducing foot traffic at their physical locations. Others argue that the rapid expansion of online betting is a slippery slope that could lead to other forms of digital gambling in the future. These concerns will likely become a bigger factor as the bill moves to the Senate, where resistance to gambling expansion has historically been stronger.

Another wildcard is Governor Mike Braun, who has recently been busy appointing various state agency heads. His stance on online gaming isn’t entirely clear, and if HB 1432 makes it to his desk, he’ll have a major say in whether Indiana moves forward with legalized online casinos or not.

For now, all eyes are on the House Ways and Means Committee. If HB 1432 makes it through, it’ll face an even tougher battle in the Senate. Either way, the conversation around legal online gambling in Indiana isn’t going away anytime soon.