What’s Going On With The 3 Online-Only Sports Betting Licenses In Illinois?

The permanent discontinuation of in-person sports betting registration on March 5 heralded a new era for the Illinois sports betting industry. At last, the market had the opportunity to achieve its maximum potential.

Residents also received a new sportsbook in BetMGM Illinois. Furthermore, Caesars Sportsbook, which was technically already present in Illinois, launched a new and improved product that should enhance its standing in the state.

Though Illinois only has seven online casinos, this is quite a small number compared to other major business sectors. Take Colorado, for example, which has 26.

You might be surprised to learn from the Sports Wagering Act that three more are expected to arrive in Illinois immediately.

The Illinois Gaming Board (IGB) announced in December that they had received applications for online-only licenses from three anonymous operators. According to the bill, it was likely that the identities of these operators would be revealed by early March.

As per Sections 25 to 45 of the Sports Wagering Act:

“The Board must receive applications for the first competitive selection following the enactment of this Act within 540 days from the issuance of the first license as per the Act’s conditions to qualify. The Board must announce the successful bidders for the initial competitive selection within 630 days from the issuance of the first certificate under this Act. The Board retains the right to extend this timeline if necessary.”

The 540-day level was reached in December for the first time. The 630-day mark was also achieved for the first time in March. However, there has not been much information about the status of the procedure.

It appears that the entity “& ldquo” is diligently working in this area, with the board “andr quo” having the ability to extend this time frame.

IGB remains silent on the matter.

When asked about the process, an IGB spokesperson told Play Illinois:

“Once the necessary legal prerequisites are met, information about the applicants for the online-only sports wager operator license will be made public. All related announcements will be updated on the IGB’s website.”

We have faced such scenarios before in Illinois. The Illinois Gaming Board (IGB) has a history of pushing back deadlines for new casino license applicants, resulting in frustration among key individuals involved in the south suburban process, who have expressed their anger through op-eds.

The Illinois Gaming Board (IGB) was expected to reply to casino applicants within a year of receiving their materials. However, the bill concerning the board’s discretion includes similar wording. Over two years after the initial program submission, a final decision was made.

Applying an equivalent standard, it’s uncertain when the board could decide on the pending sports betting applications. Luckily, assessing a sports betting application is much less complex than evaluating a casino application. However, it is obvious that the 630-day “deadline” wasn’t taken seriously.

Potential applicants for Illinois activities gambling certificates

We don’t know exactly which three businesses applied for online sports betting licenses, but we can make informed speculations.

Here are a few candidates:

• The Bally Bet
• WynnBet
• Fox Bet
• Nugget of gold
• Betway
• Betfred

Initially, the release of these certificates was meant to facilitate continuous online enrollment in Illinois. However, due to a congressional correction, this no longer applies to HB 3136.

However, having more casinos leads to an increase in consumer promotions and outlines, as well as a rise in state taxes. Hence, it would be beneficial to establish them earlier rather than later.