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A bill has been introduced at the statehouse that would legalize
internet gaming. State Sen. Cristina Castro, D-Elgin, filed Senate
Bill 1656, which proposes the initial cost of an internet gaming
license would be $250,000 with applications limited to Illinois
casinos and racetracks. Licensed operators would be taxed at 15% of
adjusted gross gaming revenue that would be directed to the State
Gaming Fund.
Only Michigan, Delaware, West Virginia, Connecticut, Pennsylvania
and New Jersey allow so-called iGaming and PlayIllinois.com
marketing analyst Eric Ramsey said they all have found out it is a
moneymaker.
“All of them across the board are finding out that sports betting is
essentially the appetizer to the main course,” Ramsey told The
Center Square. “In terms of raw revenue, online casino gambling
basically dwarfs sports betting. The margins are a little larger and
the volume is just substantially higher.”
Illinois has been one of the top sports betting states in the
country, consistently finishing in the Top 4 in the amount of
handle. According to the Illinois Gaming Board, the state took in
nearly $10 billion in bets last year, the third most in the country.
Illinois leads the nation in the number of electronic gaming
devices, with over 40,000 machines at nearly 8,000 locations around
the state in 2021, everywhere from bars, gaming parlors to gas
stations.
Ramsey believes Illinois would be a leader in online gaming revenue.
“If you guys were to go down this road and legalize online casino
gambling, it would be the most successful market in the country to
date and would generate substantially more revenue than sports
betting has for the state,” Ramsey said.
Kevin Bessler reports on statewide issues in
Illinois for the Center Square. He has over 30 years of
experience in radio news reporting throughout the Midwest.
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