On September 1st of this year, betting on sports in Indiana will become legal. But residents should not expect to see betting kiosks unloaded at Indianapolis Motor Speedway for IndyCar Racing. The new legislation only licensed casinos, racinos and off-track betting facilities to open a sports book and accept bets. So while legislation allows Hoosiers to bet on racing, venues where legal gambling doesn’t already take place won’t be taking wagers.
“The law that passed, and it was obvious from the very beginning of the legislative process,” said Mark Miles, CEO of Hulman & Co, which owns IMS and IndyCar, “there was no interest in expanding gambling in the sense of having operators beyond those who didn’t already have a license to operate gambling in Indiana.”
So if IMS won’t host sports gambling, what does the legalization of it mean for it and for IndyCar? In the broadest sense, Miles told IndyStar on Wednesday, the opportunity fans have to bet on IndyCar Racing is simply a new avenue for the sport and series to engage those who follow the series — and perhaps even attract more of those who don’t.
From a financial perspective, while the legalization of sports gambling might be a windfall for some, Miles was careful to point out that he does not anticipate that being the case for IMS or IndyCar.
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