Here’s Another Update on IL’s Sports Betting Regulations

Governor Pritzker

Illinois officially began allowing sports bets to be placed on March 9th, 2020. Initially, sports bettors needed to register in-person to join an online sportsbook. Online registration started being allowed fairly recently. This week, Governor Pritzker offered another important update on IL’s sports betting regulations.

Fortunately, this update will benefit sports bettors in the state. Today, we’re going to talk about what Governor Pritzker has decided. We’ll also talk about how Illinois’ gambling industry is set to evolve.

Let’s get into it!

Sports Betting Revenue Continues to Surge Throughout the US

As many are now aware, the US Supreme Court decided to remove PASPA back in May of 2018. This completely changed the country’s gambling industry. With PASPA gone, every state could set its own laws towards sports betting.

It didn’t take long for state leaders to capitalize on the law change. Sports betting bills began appearing around the country. States with regulated sports betting industries started seeing their revenue earnings increase rapidly.

Today, more than two years later, over 20 states now have legal sports betting industries set in place. The US has become the world’s biggest sports gambling market. Many of Europe’s top sports betting companies are now making the move into the US to take advantage of this new market.

New Jersey is proving to be the most lucrative sports betting destination in the United States. For months, revenue from the industry has been increasing rapidly. In September, the state set another all-time US record for sports betting handle at $748 million.

No one expects things to slow down anytime soon. We’re now several weeks into the 2020 NFL season and bets continue to increase. Several more states now have the legalization of sports betting appearing on November’s voting ballots.

Sports betting fans in Illinois got another good piece of news this week.

IL’s Sports Betting Regulations Are Remaining in Place, for Now

Illinois’ lawmakers pushed hard to legalize sports betting almost immediately after PASPA was struck down. It wasn’t until this March that the first legal sportsbook began operating here, though. Initially, the state required all sports bettors to register in-person at a sportsbook before being able to place any wagers online.

This approach was taken by several other states. It’s proven to significantly reduce revenue earned from the sports betting industry. The fact is most people are unwilling to register to an online sportsbook at a physical location when there are already so many unregulated online sportsbooks available to join online.

It seems that officials in Illinois realized this. Recently, the state decided to suspend its in-person registration rule. Sports bettors were able to register to state-regulated online sportsbooks online. The plan was for this regulation to end this past weekend.

Interestingly, IL’s sports betting regulations have been extended. Governor Pritzker has decided to keep this rule set in place until at least November 14th. The Governor will then need to decide whether or not to scrap the rule entirely.

The change in rules has already resulted in a massive surge in new sports betting sign-ups. Revenue from this industry is increasing and the state is earning some much-needed money via taxes. Eventually, land-based sportsbooks will begin operating in the state’s major sports arenas, too.

Illinois is working hard to expand its gambling industry. Several more casinos are still scheduled to open here over the next few years.

What’s Happening With the Casino Plans in Chicago?

Last year, Governor Pritzker signed off on a new capital plan that allows for new casinos to begin opening around the state. Several cities have already received permission to host one of these new gambling venues. To the surprise of many, the Governor also agreed to allow a major casino-resort to open in Chicago.

The process of opening this Chicago has been extraordinarily difficult. The state set extremely high tax rates for whoever operates this venue. As a result, no companies were pushing to obtain a casino license here.

This tax rate has since been lowered. Even now, very few companies are seeing the potential for major revenue gains here. Mayor Lori Lightfoot is working hard to make this future casino more appealing, though.

Not long ago, Lightfoot invited several major gaming companies to offer their insight on this venue. The Mayor wanted to learn more about how the casino would be run. This process would also help the state better decide which company to grant a license to. We’ll hear more about the state’s plans for the casino in Chicago in the next few months.

Hopefully, IL’s sports betting regulations remain how they currently are. The state is finally seeing a major surge in legal, taxed sports betting. We’ll be sure to offer more updates on this industry here over the next few months.

Are you happy to see Illinois suspend its in-person sportsbook registration process? When do you expect the casino in Illinois to open? Let us know in the comments section below!

Could a Temporary Casino in Chicago Open Next Year?

For more than a year, lawmakers in Illinois have been coming up with plans to open a new casino in the city of Chicago. It’s been a difficult process, yet things finally seem to be moving along. This week, several experts involved with the process presented plans to open a temporary casino in Chicago.Chicago City Skyline

It’s a unique idea, and one that Mayor Lori Lightfoot seems interested in. There’s still a long way to go before this new gaming venue can open, though. Today, we’re going to talk about when and where this casino could open its doors.

Let’s get into it!

Lori Lightfoot Continues Pushing for Chicago’s Casino Plans

Illinois won’t typically come up when thinking of major US gambling destinations. Based on the way things are going, however, that could change over the next few months. In 2019, Governor Pritzker approved a new capital plan that allows for several new casinos to open around the state.

There are several cities that have already gained approval to host one of these new casinos. To the surprise of everyone, lawmakers also approved a measure to allow a casino in Chicago. It’s set to be the first casino ever opened in this city.

Initially, lawmakers planned to set extremely high tax rates on this casino. This kept any casino companies from expressing an interest in operating this casino. Eventually, lawmakers decided to lower this tax rate to make things more appealing for these companies.

Location also became an issue. Officials within Chicago looked at several different areas for this new gambling property. Even today, it’s not entirely clear where the new casino will be located, although a few possibilities have been established.

Late last month, Mayor Lightfoot invited several major casino operators to discuss how they would run this new gambling venue. The mayor and her team wanted to hear more about how this property would operate from different companies. Analysts felt this would help these officials with the casino licensing procedure.

This week, several experts presented the idea to open a temporary gambling venue in this city. It appears that city leaders are interested in this idea.

Plans to Open a Temporary Casino in Chicago Are Being Presented

Many were interested to hear Lightfoot asking for plans to run the new Chicago casino. It’s clear that the mayor believes this gaming venue will benefit the city. Companies around the country have been offering their plans to run this casino.

Lightfoot also asked these company leaders to offer information on whether or not a temporary casino in Chicago would make sense. It seems that many feel this is now a good idea. One location is now already being considered for this venue, as well.

It’s now clear that this casino will open in the Downtown Chicago area. One group now believes that the Lakeside Center is the perfect place for this casino. It’s located near the water and some claim it was initially constructed with a casino in mind.

No one has confirmed this will be the location of this property. Lightfoot has not confirmed that this temporary casino will even open. If it does, however, many believe that the Lakeside Center is the perfect place for it to open.

Analysts predict that the new casino in Chicago will generate an incredible $6.6 billion in annual revenue. Unsurprisingly, city and state leaders want to get this venue open as soon as possible. We’ll need to wait and see if the Lakeside Center ends up being the location of the temporary casino.

Sports Betting Revenue Continues to Increase in Illinois

Back in May of 2018, the Supreme Court made history by striking down PASPA. It was a monumental decision and gave every state around the country the ability to legalize sports betting. Today, 24 states have legal sports betting bills approved.

Illinois officially made sports betting legal in March of 2020. Both land-based and online sports wagering is allowed here. As the months go on, revenue from this industry has been gradually increasing.

Soon, a new sportsbook will open its doors at Wrigley Field. It’s one of the first sportsbooks to open inside a major US professional sports arena. It’s clear that the state’s government officials are embracing this industry.

Sports gambling is growing more popular around the world. Many states are now looking into the possibility of opening sportsbooks inside their stadiums. We’re likely to hear more about this situation over the next few months.

Illinois is slowly becoming a major gambling destination. If everything goes according to plan, we could see a temporary casino in Chicago sometime next year. The real casino here may open its doors a year later.

Do you think a temporary casino makes sense for the city of Chicago? Where do you think it should be located? Let us know in the comments section below!

Here’s a Look at the Hawthorne Race Track’s New Casino

The state of Illinois has been working hard to expand its gambling industry. Lawmakers here feel that increasing the regulated gambling platforms here will help bring the state valuable revenue. We’re now beginning to hear more about the Hawthorne Race Track’s new casino, set to be the first “racino” in Illinois.Hawthorne Race Track

Many are excited to see this gambling venue open up. Hawthorne Race Track is one of the most historic horse racing arenas in the state. Today, we’re going to talk about what the track’s new casino will have to offer.

Let’s get into it!

Looking Back at Illinois’ Gambling Expansion Plans

2020 has been a tough year for the US land-based casino industry. Casino companies across the country are seeing their revenue earnings drop. Just a year ago, however, this industry was thriving and many states were focusing on increasing their number of casinos.

That certainly applies to Illinois. Back in mid-2019, lawmakers here approved a new capital plan that allows for many new casinos to be built around the state. This bill even approves a new casino to be constructed in the city of Chicago.

The global pandemic has delayed some of the state’s gambling expansion plans. Hope was that construction on some of these new casinos would be underway by now. Unfortunately, that is not the case.

In March of 2020, Governor Pritzker officially signed a new bill to legalize and regulate sports betting. Under the new laws, both in-person and online sports betting will become legal here. To the enjoyment of many sports fans, betting options will even become available inside major sporting venues such as Wrigley Field.

Several new casinos will begin opening up in Illinois over the next few years. Obviously, gambling fans here are excited about this news. News is just coming out that one of the most historic race tracks in the state is set to open a new casino, as well.

More Details On the Hawthorne Race Track’s New Casino Are Coming Out!

As we already mentioned, Illinois recently approved a new measure to allow new casinos to open throughout the state. Some of these casinos will be standalone gambling venues. Others will open inside race tracks.

Today, the Illinois Gaming Board officially approved the Hawthorne Race Track’s new casino plans. The owners of the state’s oldest horse race track have been pushing to open a casino for years. They believe adding more gambling options will help to bring in more players from Illinois and other nearby states.

Dakota Schultz, the Director of Communications at the Hawthorne Race Course, expressed his excitement about this news to the media this week.

“We’ll have a full blown casino- I mean it’s slots, it’s table games, we’ll have dining amenities featuring some of Chicago’s, you know, well known culinary brands. Plus racing which no other casino has. So, we’re really excited for the first racing casino,” Schultz said. 

That’s not the only good news for this track. Hawthorne also gained approval from the Gaming Board to begin offering sports betting options, as well.

The current plan is for the track’s casino to open within a year and a half. Sports betting options should become available here in time for football season. We’ll continue offering updates on this new casino over the next few months!

What’s Happening With the Chicago Casino?

There’s been a tremendous amount of media attention surrounding the new casino in Chicago. It’s set to be the first major gambling venue ever built in the city. For more than a year, lawmakers have been trying to find a suitable company to operate this casino.

Most casino companies were staying away. For reasons unknown, Illinois set extremely high tax rates on this casino. Under the initial plans, it would have been almost impossible for any companies to profit off their gambling venue.

About a month ago, Governor Pritzker approved a measure to lower the tax rate for the Chicago casino. Mayor Lori Lightfoot is certainly eager to get this venue constructed. She’s come up with five potential locations for this new gaming venue.

It’s still unclear which company will take control of this proposed casino. With the tax rates now lowered, this is starting to look like a much more appealing project.

We now have confirmation that the Hawthorne Race Track’s new casino is on its way. Based on what’s being said, this may become one of the most popular new gambling venues in the state.

Are you excited to see more casinos opening in Illinois? When do you expect the Chicago casino to open? Let us know in the comments section below!