Five Chicago sports teams want a bigger say in Illinois sports betting regulations. The Cubs, White Sox, Bulls, Bears, and Blackhawks teamed up to make their voices heard by regulators. Also, they are concerned about the $10 million licensing fees they need to pay to have sports wagering in their stadiums.
Illinois legalized wagering on sports through the state’s Rebuild Illinois Capital Plan signed by Governor Pritzker in July. The package included Senate Bill 690 that authorized the construction of a casino in Chicago and five other casinos in small towns around the Chicago metro area.
Also, SB 690 created up to seven sports betting licenses for sports venues. The law allows racetracks and casinos to have their own sportsbooks. In addition, lottery retailers can install sports betting kiosks in their locations.
Illinois Sports Betting Regulations
Donna More, a partner at Fox Rothschild LLP, represents the five sports teams. Their main concern is the $10 million stadium fee that teams need to pay for sports betting in the venue or within a five-block radius, according to pay per head sportsbook reports.
The venues qualified for sports betting in the state are Soldier Field, Guaranteed Rate Field, United Center, and Wrigley Field. More said that’s no definite definition of what a block is. Teams want the Illinois Gaming Board to justify the $10 million fee.
The five sports teams want to get on the sports betting bandwagon. However, they will only do so if it is in their best interest. Allowing teams to participate in the sports betting industry will help it succeed in the state, according to a pay per head bookie.
Sports betting in sporting venues will attract diverse players. Also, it will increase participation and improve sales tax revenues to the state. A political directory can provide you with a list of venues where you can place wagers in Illinois.