Breaking: Illinois Gaming Board Approves BetMGM For Sports Betting License, Launch Coming Soon

On Thursday, the Illinois Gaming Board (IGB) finally gave approval to BetMGM for a sports betting license, a decision that has been anticipated for some time. BetMGM had initially applied for the license in September 2020.

We are now waiting to find out when BetMGM will introduce its services in Illinois, also known as the Land of Lincoln. The company plans to penetrate the market through a partnership with Par-A-Dice Casino in East Peoria, indicating that it hasn’t applied for an online-only license.

Online registration in Illinois is set to reopen by March 5. With this green light, BetMGM is expected to be operational by then, making it available for March Madness betting. Even though BetMGM could potentially start operating before March 5, people would have to register in East Peoria.

BetMGM is set to be the seventh online sportsbook in Illinois. This number may seem small compared to states with flourishing sports betting markets, but it’s expected to increase with the reinstatement of mobile registration.

The following is what Illinoisans may understand about BetMGM.

On the same level as DraftKings and FanDuel is BetMGM.

In terms of monthly handle and revenue in Illinois, DraftKings and FanDuel are indisputably the market leaders.

Although BetMGM is launching slightly later than the other two in Illinois, it’s still uncertain how it will perform. However, it holds a significant presence in other states.

Recently, BetMGM announced its latest data, revealing that it ranked as the second-leading sports betting and online casino operator in markets where it operates from August to November 2021. The data showed that it held a 24% share in the market.

In Illinois, DraftKings and FanDuel won’t be immediately affected, but they could be in the future. It is anticipated that there will be a significant increase in advertising and promotion from BetMGM.

This is known as The King of Sportsbooks, and Jamie Foxx, with his charismatic personality, takes on the role of the pitchmaster. Legendary NBA player Kevin Garnett, who played high school basketball in Chicago, also actively advises MGM.

Don’t be shocked if a famous former Chicago coach or athlete signs a deal with BetMGM in the coming weeks, considering the company’s history of pursuing diplomats with local connections.

What caused BetMGM Illinois to take so long to complete?

It’s easy: in-person registration.

In September 2020, BetMGM submitted an application for an IL license. By April 2021, Illinois Governor JB Pritzker reinstated in-person registration.

At the time, both Unibet and BetMGM were potential candidates for sports betting. Nonetheless, from a business perspective, launching in a physical membership setting may not have been successful for either of them.

At present, BetMGM is somewhat responsible for the second launch in Illinois. It is highly likely that it will be ready to launch by March 5, given the approval.

It is anticipated that various casinos will follow suit in 2022. However, it is uncertain how quickly they can become operational.

Considering Unibet’s prominence in the pending sports betting industry, it seems to be the next in queue. We know that there are three undisclosed applicants for an online-only license. Operators such as Bally Bet, theScore Bet, Golden Nugget, WynnBET, and npspe have not openly expressed their interest in launching casinos in Illinois. However, there is a high probability that all or some of these operators have applied.

Because this is an unusual position, we were able to learn a lot about the method in real-time.

Regardless of the situation, Illinois residents can expect to receive at least one significant betting opportunity in the following weeks and months. Furthermore, a broader selection of casino options will gradually be made available.