Illinois increases taxes for sports betting operators

Illinois increases taxes for sports betting operators

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Illinois increases taxes for sports betting operators

The new, comprehensive budget that the governor of Illinois signed into law contains higher tax thresholds for sports betting operators.

The US$53.1 billion plan, which puts operators on a sliding tax collection scale based on their gross gaming revenue, was authorized by Governor J.B. Pritzker. The Sports Betting Alliance stated that the sliding scale will inevitably result in lower odds for Illinois clients as well as weaker products, promotions, and bills after the sports betting tax bill was approved by the state’s House in May.

It further stated that the in-state partners of operators will suffer greatly under the new regime.

However, as quoted by the Associated Press, Pritzker said:

“Illinois is on a trajectory of sustainable, long-term growth. The budget boosts us further in the right direction.”

House Speaker Pro Tempore Jehan Gordon-Booth, a key advocate of the budget, said:

“You’re going to continue to see we are investing not just for today, not just ensuring that we have balanced budgets, ensuring that we are keeping the trains on time and keeping the lights on. But we’re making investments for the future.”

  • Illinois increases taxes for sports betting operators Illinois increases taxes for sports betting operators
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