Illinois passes state budget with new sports betting fees
Sports betting will be subject to new fees for every wager made.
US.- Illinois lawmakers have passed the state’s budget proposal, including new fees for the taxation of sports wagerin. Governor Jay Robert Pritzker has indicated that he will sign the proposed fiscal plan into law.
Sportsbooks in Illinois will be charged $0.25 for each of the first 20,000 online bets they take annually. Beyond that threshold, the fee doubles to $0.50 per bet. The new fee is expected to bring in $36m annually to the state.
In July 2024, Illinois implemented a new progressive tax rate for licensed sportsbook operators. The first $30m of adjusted gross revenue are taxed at 20 per cent, the next $20m at 25 per cent; $50m to $100m at 30 per cent, $100m to $200m at 35 per cent and all revenue above $200m at 40 per cent. The bill passed despite opposition from the Sports Betting Alliance, which represents mobile operators FanDuel, DraftKings, BetMGM, and Fanatics Sportsbook.
