Illinois Likely to Legalize Sports Betting in the State

illinois sports bettingThe state of Illinois is debating on the sports betting legalisation issue and also looking forward to fantasy sports betting before the two house subcommittee during a hearing.

A hearing was held by the legislators regarding expanding the gambling laws in the Illinois State. They are likely to implement new plans for adding more casinos in the region and slot machines would be introduced at few horse racing tracks.

After the Supreme Court lifted the federal ban on sports betting in May 2018, several states in the USA are seriously thinking about legalising sports betting for its players.

Several officials in Illinois are bullish about sports betting in the state. Mike Zalewski, House Representative Committee, while talking to the media about this issue says:

It can sort of be the tie that binds the different industries and bricks and mortar to one unifying approach going forward. All of these things have the opportunity to bring the stakeholders together and figure out the best path forward.

Is Gambling Expansion in Illinois Likely?

The gambling expansion is always regarded as a tricky proposition because there are fervent campaigners on either side of the issue.

Like for instance, casino operators see the rising number of casinos as additional competition, and potential revenue would be deducted from their current operation. The same goes true for the racinos which means slot machines installed at the horse racing tracks.

Many different cities are vying for the potential new casinos. Like for instance, Rockford and Danville would love to get a new casino. If the horse racing venue does not get additional revenue, it would be difficult to survive shortly.

A recent report says that legalisation of sports betting in the state would introduce new revenue source.  The report at the same time shows that gambling dollars are limited and it would see a lot of competition from the fellow operators in the gambling sector.

People point towards the success of sports betting in New Jersey where it was legalised a few months back. The sportsbook was operational for players since June with revenues increasing to $184 million in September alone. Out of which, $24 million went to the state coffers. Of course, it is a significant amount of revenue in a single month, and the legislators of Illinois are carefully looking at it.

How Would the Gambling Expansion Look?

The gambling expansion laws can take several directions. Like for instance, if sports betting are legalised in Illinois, there could be an argument whether it should be limited to online gambling or physical location. In the state of New Jersey, $104 million was wagered in sports betting in September.

The opposition points out that easier access to gambling leads to problem gambling among players. The major sports leagues are debating with the state officials how they can be compensated. Initially, integrity fees which are a fraction of sports betting are demanded, but now it seems that they agree to settle for a license fee for allowing sports betting operators to access the league data.

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