Illinois sports betting to reach stadiums
The state is considering several proposals that want Illinois sports betting launched, and one of them includes wagering close to pro sports stadiums.
US.- Sports betting continues to expand in the US and Illinois may soon jump in. Lawmakers are considering several proposals by Representative Michael Zalewski as they want to catch up with neighbouring states.
The Representative has been the main advocate for Illinois sports betting and filed several proposals. One even includes venues allowed within five blocks of Guaranteed Rate Field, Soldier Field, the United Center and Wrigley Field. That would mean sports fans attending games of any of Chicago’s teams may attend to a betting shop on game day.
Rep. Zalewski and three other lawmakers proposed the four amendments in order to set the regulatory model to follow.
Three potential amendments would set a US$10 million licensing fee for operators to pay. The other one would give the state lottery the right to run sports betting in Illinois, leaving private operators out of the business.
The first proposal
The ‘Classical New Jersey’ amendment would allow riverboats and licensees to offer sports betting in Illinois. They would operate land-based, online and mobile businesses and pay the US$10 million fee, plus a US$250k renewal fee every five years.
However, to offer mobile and online betting they would need to pay a separate US$1 million licence and a US$500k renewal fee every five years. In addition, the Illinois Gaming Board would oversee the segment and it would be taxed 15% (land-based) and 20% (iGaming).
The second proposal
Rep. Katie Stewart introduced the Mississippi Model. It plans to allow land-based and online betting at licensed off-the-board (OTB), racetracks and casinos in Illinois. Ten online operators would offer sports betting in Illinois and licensing would be similar to the Classical New Jersey. A US$10 million fee, the US$250k renewal fee, but also US$250k in management services fees and US$100k in supplier costs.
The third proposal
Rep. André Thapedi filed the ‘Professional Sports Leagues’ amendment. It would also allow land-based, online and mobile versions, and require operators to pay a US$10 million fee. It is named after the requirement for companies to use official league data to offer in-play sports betting in Illinois.
Taxation would be set at a 12.5% on annual adjusted gross sports wagering receipts, plus a further requirement to pay 0.25% of their sports handle to the Illinois Gaming Board. The IGB would redistribute the latter fee to sports governing bodies or their designees.
The fourth option
Rep. Elizabeth Hernandez’s proposal defers from the rest as it gives sports betting in Illinois to the state. The Illinois Department of the Lottery would take jurisdiction over all sports betting activities should her amendment pass, which is where it got the ‘Lottery Oversight’ amendment name from.
