New Bill Introduced That Would Repeal Illinois Collegiate Wagering Ban

Rep. Michael J. Zalewski (D) from the State of Illinois has put forward a bill that aims to remove the ban on betting on collegiate sports within the state.

For instance, at present, it’s not possible to place a bet on a Northwestern football match or an Illinois college basketball match in the Land of Lincoln. However, this would change if Zalewski’s bill is passed.

As per Zalewski’s Saturday night tweet, Here & rsquo:

Today, I submitted HB5876, a bill proposing the repeal of the ban on betting on in-state college games. Considering NCAA athletes were asked to play amidst the COVID pandemic, the notion that betting would harm them seems unfounded. https://t.co/qMjytt2jMP

This was tweeted by Michael J. Zalewski (@mjzalewski) on January 10, 2021.

The Sports Wagering Act, signed into law by Illinois Gov. JB Pritzker in 2019, included some controversial components such as the in-person registration mandate.

The primary objective of the most recent regulation is to protect college athletes from gambling interests. Zalewski, in his speech, argues that the safeguarding of players is a significant worry in the present climate.

Another conceptual objective is the morality of the events. Nevertheless, if they prefer, wrongdoers can merely move their activities to the unregulated and black markets.

Indeed, it could be argued that the existing law actually incentivizes honest gamblers to participate in the black market. This is unquestionably troublesome.

What would it imply if this were to be approved? That’s what we comprehend from different aspects.

You may wager on school teams in Illinois.

The legislation that Zalewski & rsquo passed would be effective immediately, thereby allowing you to place legal bets on any of these clubs:

• Bradley
• State of Chicago
• DePaul
• Illinois in the east
• Illinois
• State of Illinois
• Loyola
• Illinois in the north
• Northwestern
• Illinois’ southeastern region
• Edwardsville in the southeastern region of Illinois (SIUE)
• University of Illinois based in Chicago (UIC)
• Illinois in the West

This would have long-term significance, but it would also be of immediate importance. For example, Illinois college basketball is presently ranked as a No. 2 seed in ESPN’s March Madness bracketology.

We are aware that the NCAA Tournament is a highly favored betting event. Northwestern also has the potential to make it to the NCAA Tournament.

If in-state undergraduate betting had been allowed during football season, the Wildcats would likely have drawn a lot of betting interest.

To add a minor complication, we’d also prevent issues like golf bettors being unable to bet on PGA events when some players aren’t paid because they didn’t make the cut.

The gap was caused by the current state law, despite the resolution of that specific issue.

How this might affect profit in Illinois

In October, Illinois registered a handle of $434.6 million, ranking fourth in the US.

That’s highly impressive considering the Illinois market’s young age. The removal of the in-state undergraduate wager ban could serve as an excellent bonus as the market matures and numbers rise.

People placed bets amounting to $78.7 million on collegiate events in the state, which had an October handle of $434.6 million.

Predicting the exact number of Illinois residents who may bet on their local school teams is challenging, but an estimate of eight per month seems plausible.

The upcoming November statistics may reveal that the State’s monthly revenue could exceed $500 million.

Lifting the ban on in-state collegiate wagering could be advantageous if Illinois raises the cost to $1 billion.

What regulations apply in different says?

A broad spectrum of college gambling laws exists across different states. New Jersey, New York, and Washington, DC have implemented similar methods in the Prairie State.

Indiana, Pennsylvania, and West Virginia do not have any school wagering restrictions.

In Iowa, you are not allowed to place personal prop bets, however, betting on the Cyclones or the Hawkeyes is permissible.

Conversely, Oregon strictly prohibits any form of gambling on college activities.

Keep checking back for changes as this progresses through the Illinois Legislature.