Indiana received more than $691 million from gambling taxes in fiscal year 2022, about 28% of the $2.5 billion lost by consumers on casino and sports betting that year.
Visitors to Hoosier casinos and online sportsbooks wagered a total of $27 billion last year, including $2.2 billion on table games, $20.9 billion on electronic gambling divides, and $40.3 million on sports through in-person betting and $4 billion on online sports betting, according to the 2002 annual report of the Indiana Gaming Commission.
The Indiana Gaming Commission received more than $15 million in gambling fees and fines and reported expenses of $27.8 million.
For residents of Indiana, income from gambling is taxable at the state income tax rate of 3.23%, even if the money was won outside the state.
Critics of gambling claim the industry inevitably results in the addiction of consumers and political corruption.
Kyle Waggoner, former vice president of the Indiana Grand Racing & Casino in Shelbyville, pleaded guilty last year to making illegal campaign contributions.
Former state senator Brent Waltz was convicted this year of making and receiving conduit contributions and making false statements to the FBI. He had been charged with funneling funds from Indiana casino company New Centaur through straw donors to his 2015 campaign for Congress. Waltz was sentenced to 10 months in prison.
The gambling industry is growing in Indiana as tax revenues increased 18% over the previous year and significant expansions were undertaken at racinos in Shelbyville and Anderson. A new casino is expected to begin operations in Terre Haute within the next two years. Plans are in place for a new casino in Vigo County also.
Three of the state’s casinos are in Lake County and one each in Porter, Madison, Shelby, Dearborn, Ohio, Switzerland, Harrison, Orange and Vanderburgh counties.
The largest by volume of tax revenue generated are Horseshoe Hammond at $118.4 million and Hard Rock Casino in Gary at $106.6 million.
This article originally appeared on The Center Square.
