Illinois Sports Betting Could Be Up and Running Just in Time for the March Madness
Legal sports betting heads to Illinois. The sportsbook is said to be ready to operate just in time for the March Madness tournament. Jordan Abudayyeh, Gov. J.B. Pritzker’s press secretary, said that the state’s official “is satisfied that Illinois sportsbooks will be open for business by March Madness. This will be generating revenue to rebuild hospitals, universities, and facilities across the state.”
Gov. Pritzker rubber-stamped an 816-page bill last summer authorizing the immense expansion of the state betting industry that, amongst other things, included the authorization of sports bookmaking at retail locations and also across digital venues.
Illinois Sportsbooks and the States Law
The bill’s implementation into law was a big success for the beginner governor who is facing a challenge to find funds for his determined $45 billion to rebuild Illinois capital plan in a state-run that has been strapped for cash.
First Sports Betting Licenses are Granted
The Illinois Gaming Board opened a sports bookmaking license application window in December. The watchdog issued the first three provisional operating licenses early this month. Under the state’s recently enforced athletic betting law, all of Illinois’ ten current casinos are permitted to apply for sports betting licenses.
The three casinos that were given temporary permits were Grand Victoria Casino Elgin, Argosy Casino Alton, and Rivers Casino Des Plaines. The properties can conduct both digital and retail wagering activities.
Hopes are that Illinois inhabitants will be able to place their first legal wagers by mid-March. This is when the NCAA Division I Men’s Basketball Tournament, or the March Madness, is set to take off. The major basketball event attracts a lot of attention and gambling action. According to the industry insiders, the Argosy Casino could be on track to open Illinois’ first sportsbook. However, it is yet to be seen whether this could be true.
DraftKings, FanDuel to Wait for 18 Months to Get into the Betting Fold
The authorization of sports betting in Illinois brought controversial provision which blocked businesses such as FanDuel and DraftKings from applying for the online sports gaming licenses until 18 months after the beginning of legal athletics gaming in the state. There will be only three online sports betting licenses available after the 18 months, and they will cost about $20 million each.