In February, gaming officials in Indiana hired Spectrum Gaming Group to estimate how much revenue online casino gaming (if legalized) could generate in the Hoosier State. The firm returned with this answer — $469 million in the first year, growing to $830 million by the third year.

But in its 103-page report for the Indiana Gaming Commission (IGC), released Wednesday, Spectrum also suggested that online poker — independent of online casino gaming — could generate $10.3 million in the first year and $18.3 million by the third.

The estimate is based on analyses Spectrum conducted in three other states where online poker is legal — Delaware, New Jersey, and Pennsylvania.

IN’s Online Poker Market Would be Two-Thirds the Size of NJ’s in Third Year

Spectrum reported that for the 12 months ending in April, the three states combined for total gross gaming revenue of $2.9 billion. But 97.8% of that total ($2.8 billion) was for online casino gaming, while the remaining 2.2% ($63.8 million) was from online poker.

By extension, Spectrum projects Indiana online poker could make $10.3 million in its first year, $14.6 million in the second, and $18.3 million in the third. Based on the firm’s estimate that online casino gaming would make $469 million in the first year the vertical was legal, increasing to $663 million in the second year and $830 million in the third.

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