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A new sweepstakes ban is set to take effect July 1 and casino operators know they must exit or face severe penalties.
Here is where we quickly discover which of these sweepstakes casinos is truly a serious player in the industry.
Governor Mike Braun signed HB 1052 on March 12. The new law specifically targets the dual-currency model that uses a free-to-play concept followed by the ability to make purchases using so-called "sweeps coins". Real money online casinos, prediction markets and daily fantasy sports sites, while not regulated by the state of Indiana, do not fall under this new law per se.
Under HB 1052, any platform that offers games through such a dual-currency or multi-currency system and allows players to exchange that currency for a chance to win cash or cash-equivalent prizes is now prohibited.
The law allowed such sweepstakes platforms roughly 112 days to wind down their Indiana operations.
During that time it was expected that operators would notify their customers as to how they should begin going about the withdrawal process. Some have done just that, others....well.....
Platforms including Modo.us, McLuck, Hello Millions, Jackpota, Mega Bonanza, PlayFame, SpinBlitz, Baba Casino and ACE Casino have confirmed they will no longer accept Indiana residents once the law activates. It's not immediately clear how many sweepstakes sites have failed to notify their customers and what remedies can be used to claim their balances after the July 1 date. Not all customers may be aware of the new law after all.
- Gilbert Horowitz, Gambling911.com
