Illinois sports betting to compete with Nevada
According to recent projections, the sports betting market in Illinois could compete with Nevada’s by reaching US$5.2 billion, once it finally launches.
US.- 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.
Delays
Illinois has yet to make progress with sports betting regulations and it remains illegal.
The segment is expanding hastily across the country ever since PASPA was revoked. However, there’s no timetable for when it will finally arrive in Illinois with the correspondent sports betting framework.
The approved bills got signed into law on June 28. However, the Illinois Gaming Board hasn’t come up with regulations yet.
“We’ve been told that applications should probably be available at the next board meeting,” said Tom Swoik, executive director of the Illinois Casino Gaming Association.
“The Joint Committee on Administrative Rules has not yet been sent rules regarding sports wagering by the Gaming Board. Once the Gaming Board sends their rules, JCAR will undergo the appropriate process for adoption,” State Sen. Sue Rezin said.
