Illinois launches sports betting phase 2
The Illinois Gaming Board took another step towards sports betting and released regulation’s phase 2, which involves elements required for licences.
US.- The gaming industry continues to evolve in the US. That’s why Illinois pushes to launch sports betting in the state and released phase 2 of its regulation.
The second stage of the process involves the elements licensees need to launch operations in the state. It includes accounting measures and financial record requirements. Moreover, authorised types of bets, internet wagering requirements and responsible gambling controls.
“Last June, the General Assembly passed and Governor Pritzker signed historic legislation significantly expanding casino/racino gaming, video gaming, and authorizing sports wagering in Illinois,” Illinois Gaming Board administrator Marcus Fruchter commented, as quoted by iGB.
According to Fruchter, they want to work with industry partners to make a high-integrity environment.
“Once applications are submitted, vetted, and approved, an applicant may receive a temporary operating permit. Then, it could begin accepting wagers as soon as they are ready to do so,” Fruchter explained.
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.
