Sports betting in Indiana became a reality in the summer of 2019 and since then, the state has seen tremendous growth in the sector. Not only were the gambling operators able to apply for sports betting licenses but the law also made room for novelty betting.
In order to be approved by the Indiana Gaming Commission, the novelty activities must have verifiable outcomes that cannot be compromised by the betting activities. In addition to that their outcomes have to be generated through an independent, fair, and reliable process.
Following in The Footsteps of New Jersey
On Wednesday, the state’s gaming commission approved wagering on the Academy Awards, one of the novelty events that have been requested by gamers in the state. This makes the Hoosier State, the second state in the country to allow bettors to wager on the Oscars Awards. The first state to do so was New Jersey and it will be taking bets on the event for the second year in a row come February 9.
The Indiana Gaming Commission’s decision to allow betting on the Oscars came after a thorough review of various factors surrounding it. According to Sara Tait, the commission’s executive director, they made sure that the activity met all the requirements of statute as well as the gaming commission’s standards. She further pointed out that they will be monitoring everything to ensure it is all going as planned.
“Should circumstances arise that undermine the integrity of certain activities, it is within the IGC’s discretion to change course based upon new information,” she said.
These same strict measures will definitely apply to other forms of novelty betting that may come to the state in the future. There is a possibility that betting on political events such as elections will also begin in the state. It will certainly take a while but when it does arrive it will be in the best possible form.
What to Expect
Sportsbooks in Indiana will now be able to offer betting lines on all the 24 categories of awards of the Academy Awards. All of the categories are very important, but analysts believe that the sports betting operators are likely to focus on the six of the categories which many consider to be the major ones. These are Best Picture, Best Director, Best Actor, Best Actress, Best Supporting Actor, and Best Supporting Actress.
This is pretty accurate especially because there is a lot of buzz around these six categories. Already, DraftKings and FanDuel are allowing gamblers to bet on the contenders for the six awards.