Illinois Lawmakers Vote To Approve Sports Betting On Last Day Of Session

Illinois is one step away from legal sports betting after a last-ditch effort from Rep. Bob Rita fell into place this weekend.

House lawmakers voted to approve a broad expansion of gambling within a capital funding bill on Saturday, and the Senate followed suit on Sunday. Gaming provisions within the act include a long-awaited casino in Chicago and authorization for both retail and online sports betting.

The bill now moves to the desk of Gov. J.B. Pritzker, whose recent comments make it clear he’ll sign it into law. The governor helped shepherd IL sports betting across the finish line, seeking to drive more than $200 million in additional revenue to his state.




https://www.google.com/amp/s/www.le...31/illinois-sports-betting-last-day-2019/amp/

Illinois became the 13th state to pass sports betting legislation on Sunday, and the fifth to pass it this year.

With the state’s legislative session extended over the weekend, the state voted to pass its bill. Gov. J.B. Pritzker is expected to sign, and when he does, Illinois will join its Midwest partners Indiana and Iowa with legalized wagering, though the terms are a little different.

Illinois decided to give brick-and-mortar operations — casinos, racetracks and sports venues — an 18-month head start. Those operators can go live right away with in-person and mobile betting, while online-exclusive retailers will have to wait a year-and-a-half before entering the market.

Online-only licenses, which will be available to only three operators, will sell for $20 million each and be decided by the Gaming Board. That’s the highest number for any state by a wide margin — and it comes with a $1 million renewal fee after four years.

Operators such as DraftKings and FanDuel, which are the leaders in robust New Jersey market, will have to wait 18 months to join the Illinois market.

New Jersey will do more than $3 billion in total handle in its first year of sports gambling, with more than 75 percent of that money coming from mobile.

With a population of 12.7 million, Illinois actually has 3.8 million more people than Jersey, but with more restrictive laws — in-person registration for mobile betting, for example — it’s reasonable to expect the Prairie State to lag behind New Jersey’s numbers initially.

Illinois’ law won’t allow bettors to wager on any of its collegiate sports teams and it will impose a 15% tax on operators.



https://www.google.com/amp/s/www.actionnetwork.com/news/illinois-sports-betting-legal-2019

I'm ok with the fact Illinois won't allow bettors to wager on any of its collegiate sports teams

sharky99 said:

I'm ok with the fact Illinois won't allow bettors to wager on any of its collegiate sports teams

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That would bother me if Pa sports books didn't allow Pa college teams to be bet on.......for many bettors that bet college football, this is what all day Saturdays are all about.