New Amendment Would Remove Illinois In-Person Sports Betting Registration Requirement By March 5
A proposed amendment to HB 3136 would remove the in-person sports betting registration requirement in Illinois by March 5, 2022. And on Thursday evening, the bill passed in the Illinois Senate.
By the end of Thursday, it must now be approved by the House. Additionally, the act permits in-person wagering on state college teams.
As it stands, complete mobile registration can only happen once the Illinois Gaming Board (IGB) hands out an online-only sportsbook license. However, there is serious doubt that will happen, as those licenses cost a hefty $20 million apiece and would benefit established market leaders.
Section 25-45, referenced below, details the online-only license trigger. The new amendment reads:
An individual must open a sports betting profile in person at the facility prior to the first license being issued under Section 25-45 or March 5, 2022, whichever comes first.
The Illinois Legislature is now having a filibuster program. It appears that Illinois’ in-person register may come to an end if lawmakers in the House show sufficient support.
What justifies the need for the article?
With the way the law was written, Illinois backed itself into a part.
Lawmakers assumed that someone would pony up the $20 million necessary to secure a mobile-only license. The thinking was that DraftKings, FanDuel, etc., would be interested because there was no other way into the market.
Instead, those companies decided to partner with land-based facilities for market access. And during the COVID-19 pandemic, Illinois Gov. JB Pritzker enforced an executive order that waived the need to visit a retail sportsbook to validate an online sports betting account.
For those seven-plus months, DraftKings and FanDuel became the sports betting market leaders in Illinois. They lead all operators in handle and revenue on a monthly basis.
There is therefore no justification for either operator to place a bet on an online-only license. Some other gaming operator may still, but given the high cost and the fact that it gives everyone already on the market a huge profit, it is understandable why it & rsquo is not the most alluring offer.
The practice of signing up for a casino in person was not intended to last long. However, it would remain in place indefinitely if no one submitted a bid and there was no legislative correct.
This is why the act is required.
Illinois sporting betting’s present and future
Despite having in-person registration since early April, the Illinois sports betting market is thriving.
In terms of manage, Illinois consistently comes in third place in the US, behind New Jersey and Nevada. In August, the Land of Lincoln posted$ 400.4 million.
With online registration, Illinois could usurp Nevada for the second overall spot. It has already happened before, but without a consistent new stream of customers, IL was unable to sustain the progress.
Additionally, this would make it possible for more bookmakers to run in Illinois. We are aware that BetMGM, Unibet, theScore Bet, Bally Bet, Golden Nugget, and WynnBet are interested. The list likely doesn’t stop there.
A minor change to HB 3136 could mean a bit. We’ll update you as the story progresses, We & rsquo.