Illinois sports betting operators are going to have to deal with an unexpected tax hike in the Land of Lincoln.
The Illinois state government approved a budget plan late Saturday that changes the tax structure on sports betting from a percent on total wagers to a per-bet tax on every wager.
The tax will hit the largest sports betting operators, DraftKings and FanDuel, the hardest since they accept the most bets in Illinois.
Most states have or are vying for greater regulation over sports betting platforms. Indiana is taking the opposite approach.
The Indiana Gaming Commission recently announced that effective July 1, hundreds of companies connected to the state’s sports betting marketplace won’t need to obtain licensing to offer their services.
Even the thrills of the NBA playoffs haven’t managed to whet the appetite of sports bettors.
Gaming research firm Eilers & Krejcik Gaming found that the NBA’s total betting handle decreased about 10% year-over-year, according to data from online sportsbooks in Colorado, Illinois, Maryland, Nevada, New Jersey, and Oregon.
Despite the waning interest, revenue was slightly up 1% during the same time.
Missouri is finally set to enter the sports betting ecosystem, and BetMGM expects to be one of the 21 possible sportsbooks available to bettors.
On Tuesday, Century Casinos announced that it had reached a partnership agreement with BetMGM, per Legal Sports Report. Sportsbooks are not required to secure a casino partner, but they can gain access through the state’s 13 casinos or six professional sports teams.
The NCAA is considering removing its ban on student-athletes betting on professional sports, according to Sports Illustrated’s Pat Forde.
The Division I Board of Directors previously voted 21-1 in favor of the proposal, which would allow student-athletes to bet on leagues such as the NFL, NBA, and MLB.
The measure was advanced to the Division I Council. If approved, the restriction could potentially be lifted by the end of June.
The leader of one of the industry's sports betting titans claimed that the rise of prediction markets could convince non-legal betting jurisdictions to adopt legislation.
Missouri is moving another step closer to live sports betting.
The sportsbook license application process opens the week of May 12, allowing operators to submit claims to serve as one of the Show Me State’s regulated online sports betting sites.
The Missouri Gaming Commission’s website states that sports betting applications will be available starting May 15.
In 2024, popular arcade and video-game franchise Dave and Buster’s made headlines when it announced plans to offer peer-to-peer gambling in small amounts.
Illinois lawmakers are now attempting to shut down that possibility in the Land of Lincoln.
House Bill 2724, presented by Sen. Bill Cunningham (D-District 18), would ban entertainment venues such as arcades from offering gambling services, according to our partner site Legal Sports Report.
PENN Entertainment confirmed what everyone already knew: Its sports betting product, ESPN Bet, has fallen well short of expectations.
Bet365 Sportsbook may soon be on the market.
England’s billionaire Coates family is weighing a full or partial sale of one the world’s top sports betting operators, according to an article Thursday by our partner site Legal Sports Report, which cites an earlier report posted at The Guardian.