Illinois Gaming Board begins releasing sports betting applications
The Illinois Gaming Board moved closer to launching sports betting this week with the release ofsports gambling applications.
The application process is the first phase of the state’s rollout of sports betting.
In the next few months the gaming board will release rules concerning the operations of
gambling.
Illinois, which legalized sports betting in June, hopes to have gambling up and running by the Super Bowl and March Madness.
Sports wagering licenses cost a fee of $10m and are valid for four years. Licenses will be eligible for four-year renewals at a fee of $1m.
Illinois presently boasts 10 casinos and three racetracks.
Talk of casino development in Chicago has stalled repeatedly in recent weeks over disputes of what tax rates the city would impose on operators.
Chicago Mayor Lori Lightfoot is a proponent of bringing a casino to Chicago but has failed to garner enough support in the state legislature for designing a fair tax structure.
In the meantime, Illinois continues to lose bettors who can travel across state lines to Indiana to wager on sports.
The Hoosier State took in $92m of sports betting handle last month with revenue topping
$11.5m.
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