Illinois Still Targeting March Madness For Legal Sports Betting Launch
According to Robert Channick of the Chicago Tribune, the legalization of sports betting in Illinois did not happen in time for the Super Bowl. However, there is a strong likelihood that sportsbooks will be up and running by March Madness.
This will be advantageous for businesses. The American Gaming Association predicts that the NCAA Tournament will attract over $8.5 billion in bets, potentially making it the largest betting event in the country. In comparison, the Super Bowl had an estimated $6.8 billion in bets, while other major events do not reach the same level as March Madness for various reasons. With the tournament’s prolonged duration and widespread public interest, Illinois sportsbooks have the opportunity to greatly increase legal betting in the state by launching during March Madness.
reviewing applications for entertainment boards
Channick states that the Illinois Gaming Board introduced regulations for operations on January 23. Rivers Casino in Des Plaines, Grand Victoria in Elgin, Alton, and Argosy have all submitted applications for sports betting licenses. During a meeting on January 30, the panel unanimously approved these regulations, offering clear guidelines for both casinos and bettors.
The gaming commission is currently evaluating the software and intends to grant temporary operating licenses to casinos, allowing them to start their operations promptly. Marcus Fruchter, the executive at the table, shared this update with Channick.
Sportsbooks being introduced in Illinois will allow residents to engage in online gambling. Channick predicts that this will happen once the games have started. The 2019 Illinois Sports Wagering Act offers the chance for seven major sports venues, three horse tracks, and ten casinos in Illinois to obtain licenses for sports betting. Additionally, Channick mentions that three online-only casinos can apply for licenses 18 weeks after the first on-site registration is authorized.
The casino software procedures began in December, potentially allowing for an earlier start than originally planned. Despite this, Channick noted that applicants decided to wait until the operational regulations were finalized before submitting their applications. He also spoke with multiple sources who anticipated that the second casinos would be ready to open in time for the NCAA Tournament in March.
The goal is still March Madness.
Mike Zalewski, a Riverside, Illinois representative, played a pivotal role in helping pass sports betting legislation in the state. During a discussion with Channick, Zalewski noted that the three games most likely to be prepared for March Madness are the ones that have already submitted their software.
He continued with a strong sense of optimism, stating that they would be ready to place bets by March Madness. He noted that, given our current timeline, this goal was achievable.
Channick and Corey Wise, the general manager of Rivers Casino, discussed the casino’s readiness for launch. In preparation, Rivers Casino opened the BetRivers SportsBar in December.
Wise stated that Rivers is working hard to quickly launch its BetRivers Sportsbook.
According to Channick, the Illinois gaming board is reviewing 10 applications for five of the six new casino licenses allowed under the state’s gambling expansion law. The opening of a fifth casino in Chicago is currently delayed due to issues with gaming tax laws.
Candidates in southern cities near Chicago, such as Calumet City, Homewood, Matteson, and Lynwood, are working to establish casinos. The gaming board is responsible for evaluating and choosing the five license recipients within one year of the Oct. 28 application deadline. Various other locations in Illinois, like Rockford, Waukegan, Williamson County, and Danville, are also pursuing similar initiatives.
Illinois residents looking to bet on a local school in the NCAA Tournament have a few options. Illinois is having a successful season with an 8-5 record in the Big Ten and is expected to receive an at-large bid. Loyola, Southern Illinois, and Bradley are second, third, and fourth in the Missouri Valley conference, respectively, and would need to win their conference tournament for an automatic bid. DePaul and Northwestern have struggled with a combined conference record of 2-22. Northern Illinois is leading the MAC West but also needs a conference tournament win for an automatic bid.