Pro sports teams might be eligible for sports betting licenses in Illinois

Pro sports teams might be eligible for sports betting licenses in Illinois

Pro sports leagues were once opposed to legal sports betting, but are now backing it

It’s no secret to anyone that sports betting in Illinois has been nothing but a dollar tree. After about two years of its official launch, mobile and retail sportsbooks tied to tracks and casinos have generated more than $1 billion in revenue. While it is true that The Prairie State law allows sportsbooks to be placed at professional sports venues, professional franchises as such have not yet had the opportunity to receive their own license. This could change soon.

The state House of Representatives recently received a bill that would give professional teams the opportunity to have a larger market share after being able to apply for a sports betting license. The measure was proposed more than a week ago by Chicago-area state representative Lamont J. Robinson, Jr.

His intention is to expand the list of entities eligible to take part in the action. Robinson assures that professional teams should have an equal share, something that is very common in other states where sports betting has also received the green light.

The structure established by the law currently indicates that professional franchises can benefit monetarily through sponsorships with sports betting companies. Robinson, through its legislation, seeks to enable teams to participate as direct licensees in sports betting.

No doubt, the move comes as good news, especially for a state that has plans to launch in-person sports betting at two Chicago professional sports venues sometime in 2023. Whether the measure is approved or rejected, any updates will be shared on Americas Cardroom.

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