Online gambling could be next for Illinois’ expanding industry
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(The Center Square) – After dozens of states including Illinois voted to allow sports betting, it raises the question on the gambling industries’ next step.
Illinois has consistently been one of the top sports betting states in the country. This year, the state passed Pennsylvania for third place in lifetime sports betting handle with over $19 billion bet on sports.
Phillip Milan, CEO of the gambling insider website Vegas Kings, said he expected the rapid expansion of sports betting in the U.S.
“I’m not really surprised because before sports betting was legalized, a lot of people would fly to Vegas or they would use off-shore bookies and local bookies that are not legal, but they would still sports bet,” said Milan to The Center Square.
Lifetime, the states that allow legal sports betting have produced a combined handle of over $200 billion through January 2023. The total tax revenue from the wagers is nearly $2.7 billion.
A measure has been introduced in Springfield 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. The bill remains in committee. Only Michigan, Delaware, West Virginia, Connecticut, Pennsylvania and New Jersey allow so-called iGaming.
Bonus.com researcher Heather Fletcher said Illinois is one of five states to watch this year for possible online casino legalization.
“Specifically for Illinois, once the market is mature it could mean $240 million, and that is if it’s taxed the same rate as sports,” said Fletcher.
The group Illinois Church Action on Alcohol and Addiction Problems opposes internet gaming. Rev. Shane Hartman said there are so many negatives that outweigh the positives.
“There’s all these cross addictions with gambling and alcohol,” Hartman told The Center Square in November. “And all these things that go together, the suicide rates go through the roof with this online gambling.”
Hartman said that 3.8% of adult Illinoisans, or about 383,000 people, are considered to already have a gambling problem and if the state adopts online gambling, he thinks that number will explode.
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, including in bars, gaming parlors and gas stations.
