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Enterprise-level B2B Content Provider GAN Approves Regulation of Sports Betting Activities in Illinois
June 7, 2019 Aleksandra Zolotic
The US-based developer GAN plc, one of the most well-known top-quality supplier of B2B Internet gaming software, services, and content, has welcomed the legalization of sports wagering in Illinois. The approval…
…makes the Prairie State the 13th US state to regulate sports betting and the fifth one to do so this year. Upon the launch, 19.9% of the total US population will officially be able to participate in online gambling.
Financial Contribution to a Wider Perspective
Following Pennsylvania, and its immense population of 12.82 million, Illinois, with 12.74 million residents, serves as the second-largest state to approve internet sports gambling in the US. GAN anticipates its existing clients to extend their online GAN-ed operations into the Prairie State in 2019. The Senate voted 46-10 in favor of the Sports betting bill…
…and sent the bill to Governor Pritzker, who’s already confirmed he’ll put his signature and turn it into law. Just a reminder, he’s been ing the idea of regulation ever since he was elected at the beginning of the year. As far as he believes, the state could generate a significant amount between $384 million and $680 million in yearly gross sports betting revenue.
Amendments and “Bad Actor” Clause
Back in March, the House Rules Committee in the state came up with four different amendments to a bill that would legalize sports wagering in Illinois. Lawmakers were supposed to pick from four separate regulatory frameworks and unify them into one proposal. In addition to this…
…April brought another amendment, the so-called “bad actor”. The clause clarifies that the state won’t be granting licenses to the companies that have been d with those who have previously accepted wagers in contravention with any law in the US.
GAN Provides US-wide
Illinois is not the only state in the US being ed by GAN. The company marked its presence in New Jersey by striking a strategic partnership with Parx Casino. The agreement will undoubtedly expand the base of their consumers, bringing a significant financial gain to the territory as well. In addition to this…
…the supplier left a footprint in Indiana as well. The market accepted internet gambling as legal, leaving space for the renowned content creator to handle serving one or more land-based operators in this state. A suggested tax rate for the certified operators on the gross revenue coming from sports betting is 9.5%. The mount will be paid on a monthly basis, with the initial license fee of $100,000 and an additional $50,000 every year.
Source:
“GAN Welcomes Sports Gambling Legalisation in Illinois”, Niji Narayan, europeangaming.eu, June 5, 2019.
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This steady growth in accepting sports wagering shows that markets are ready to open their doors and make the best of regulation. What I aim at primarily here is a significant financial gain for the industry and operators.