Sports Betting License Application Window in Illinois Opens in December

The Chicago Sun-Times reports that Illinois Gaming Board is ready to begin accepting sports betting applications from interested operators from next month – December 19th at the very latest (when Board’s next meeting is going to take place) or before.

This was revealed during last week’s meeting of the regulator’s board . Illinois has made sports betting legal during summer.

Part of a Larger Scheme

Marcus Fruchter, Gaming Board’s , said of the occasion…

…that preparations are being put in place to make applications available for operators who wish to commence sports betting activities in this state.

Sports betting regulation was a part of larger gambling reform that swept across Illinois, that is turning towards expanded gambling.

Also:

Six new casinos are being developed in this state as of now, while 10 riverboat casinos will be moved to land. More video gaming terminals will be added, too.

Illinois new Governor, J.B.Pritzker, has delivered on his promise to liberalize gambling in the state. His massive $45 billion Rebuild Illinois initiative will be largely financed by the gambling tax money.

Online Betting Only From ed Retail Place

Besides the info that application process will begin in December…

…it hasn’t been detailed how long the process will last and after how much time will operators gain their permits. Sports wagering licenses will cost $10 million. For the first 18 months, they will be limited to casinos, horse racetracks and large arenas.

Says Fruchter of the forthcoming process:

“There are a lot of things to be looked at here, and we’re going about our business to look through it in a deliberate manner, within the resources that we have.”

Digital and mobile wagering will also be available in Illinois – although, bettors will need to be ed at retail sportsbook to be able to bet on sports events, via mobile or website.

The sports betting legislation has determined a 15% tax on sports betting revenue, that state will collect.

While on the subject of online sports betting, only three licenses for them will be available. They will come with a $20 million fee and will be available 18 months after sports betting takes off in Illinois.

The neighboring state of Indiana has launched sports betting in September…

…and is already reaping a bountiful harvest. In October, retail and online sportsbooks accepted $97.1 million in bets.

Source:

“Illinois sportsbooks to get license applications in next six weeks – but still no timetable to launch”, chicago.suntimes.com, November 7, 2019.