Sports betting in Illinois on track for March launch

The Governor of Illinois has revealed that everything is on track for the sports betting industry to debut before mid-March.

US.- Governor J.B. Pritzker aims to have sports betting up and running by March Madness. According to him, everything is on track for a launch before mid-March, when the first game of the tournament takes place.

During his annual budget address on Wednesday, the Illinois governor told legislators that sports betting “appears to be on track and will be up and running in time for March Madness.” This is the first time that Illinois announces a specific timeline for the launch.

The governor said that tax revenue from sports betting is key as a new revenue stream and that it would help fund “badly needed maintenance and construction work at our universities, community colleges and state facilities.”

Pritzker’s press secretary, Jordan Abudayyeh, recently said that the governor wants the activity to contribute economy in the state. “The Governor is pleased that Illinois sportsbooks will open for business by March Madness, generating revenue to rebuild universities, hospitals and other facilities across the state,” the press secretary said.

Illinois’ sports betting is ready to compete

Illinois will soon launch the sports betting industry in the state and will thrive according to recent forecasts. Some consultants revealed their projections for the segment and say it may compete with Nevada’s.

Consulting firm Global Market Advisors forecasted the Illinois sports betting market to get US$5.2 billion worth of wagers in 2023. Should it come true, it would place it just US$300 million behind the US$5.5 billion expected for Nevada that year. Camelot Lottery Solutions also expects the segment to thrive, as it sees a market for 450k Illinoisans ready to bet.