Illinois opens window for mobile-only sports betting applications
By Bob Garcia
Illinois finally realized the benefit of online sports betting earlier this year
An application window open until December 3 will give interested operators the opportunity to submit their applications for mobile-only licenses in Illinois, the Illinois Gaming Board (IGB) has announced. It looks like applicants will have to go pretty deep in their pockets if they want to hold this license, as it has a $20 million price tag. Still, there is no doubt that sports betting is a lucrative market, and paying that kind of money is considered an investment that will easily pay off in the medium to long term.
Local sports betting operations were legalized in The Prairie State more than a year ago and the movement has been quite good so far. Rivers Casino was the first establishment to host the first legal in-person wagering in March of last year, and a few months later, on June 18, online sports betting became official.
In-person registration is still a fact of life in the state; however, this will disappear when online operators with mobile-only licenses become active. The official application window will remain open for a total of 120 days from the official announcement, which provides the necessary time for operators to do their necessary analysis and paperwork. The IGB is required to publicly announce which bidders are qualified and disqualified for the license 48 hours after the deadline. And 90 days later, it must name the three bidders who will receive the mobile-only license.
Illinois is one of more than 20 states today that have wanted to take advantage of the decision made by the US Supreme Court in May 2018, when it struck down the Professional and Amateur Sports Protection Act of 1992 (PASPA). Since that time, each state has had the option to legalize gambling if they wish, and many have reaped great fiscal benefits from this growing market.