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The popularity of betting on sports in Illinois is rising rapidly. In October, a record $1 billion was gambled across all forms of gambling, marking a new monthly high.
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Illinois is going up there to the level of NY, NJ, Nevada and PA!
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I am interested in seeing their 2021 and 2022 data to see exactly how large the market has grown.
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In 2024, the Illinois sports betting sector brought a record $2.08 billion to the state tax office, according to the Commission on Government Forecasting and Accountability. Compared to 2023, this is a rise of 4.8% over the previous year.
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2025 will be interesting actually since the state is increasing the tax rate for sports betting in Illinois. It will depend on revenue now, so the previous 15% will be replaced by either 20%-40%. Its going to be confusing for a while, and, like I said, interesting to see what sportsbooks will do given a huge tax rate.
@normand I want to see how this will play out. operators will have to adjust for that and the players will get the brunt of it- less promos or something similar. But given the changes, i wonder if this will have any effect on the year-on-year trends.
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