The regulator’s executive director himself put into question the fact that an owner of the company is from Tel Aviv while others voiced concerns that the application review process was abnormally lengthy. Many are speculating that this could be the end for NeoGames’ Indiana license.
An Unresolved Issue is the Stumbling Stone
NeoGames is operational in The Hoosier State as a player account management (PAM) services provider for the Caesars Sportsbook. However, neither NeoGames nor Caesars has publicly addressed IGC’s concerns since the regulator’s meeting on March 9. During the meeting, it was made clear that the issue hasn’t been resolved in the three years since the application was first put forward.
What had happened, was that NeoGames received its temporary license three months after application, and the review process has basically been ongoing ever since, as a full license was never issued. The regulator’s current goal is to put forward a clear-cut action plan before June when NeoGames’ ongoing temporary license expires.
Thus, NeoGames’ permanent license is not only still elusive but it now seems even less likely it will ever be granted. Since the concerns that Indiana’s gambling regulator has with the company haven’t been resolved since the application, and the issue was raised yet again, there is still an option to move forward, however – at least in theory. It isn’t clear what NeoGames’ plans are, though.
Indiana’s Market is Preparing for Shifts
In the meantime, Indiana’s gambling market is having its own woes. Multiple analyses show that the most likely reason for January’s dip in betting handle was Ohio. As punters started flooding Ohio’s operations after the state went online, The Hoosier State reported $427.2 million in betting handle. The January 2022 results broke the $500 million mark, turning into a record success for the state.
Compared to December 2022’s $431.4 million, however, the January 2023 result wasn’t all that bad, marking only about a percentage point slide. This means that although Ohio did manage to allure many punters for its online launch, it can still be good news for the industry overall, as more players can now enjoy their favorite hobby.
Ohio’s January results were received well enough by many, though. As this was practically the first month of sports betting in the state, its $1.1 billion sports betting handle was extremely good news for the market’s outlook in The Buckeye State. Almost 99.1% of that was generated by mobile sports betting, leaving no doubt as to what the driving force for the state is.
It’s not a surprise, then, that out of the 33 states (plus DC) that have sports betting, 24 states (again, plus DC) offer mobile sports betting. Nebraska, Florida, and Maine are currently getting ready to implement sports wagers, and again – two of the three states are also going to launch online, with Nebraska being the one holding back.