Illinois grants sports betting licenses to seven casinos. However, local bettors don’t have any place to wager on games because casinos remained closed in the state due to the coronavirus. Also, online sportsbooks can’t operate at present. They have an 18-month penalty box period before they can launch their online services in the state.
The licenses bring at least $40 million into the state budget via the sportsbook fees. The fees varied from one casino to another based on their gross revenue last year. However, the charges have a limit of $10 million. In 2019, casinos in Illinois earned more than $114 million for the state. Also, video gambling terminals paid $147 million in taxes. Governor J.B. Pritzker signed an amended operating budget that relied on borrowing after the state suffered a $2.7 billion deficit due to the coronavirus shutdown.
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December 2021
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