Here is a quick review of what happened recently with sports betting in Illinois. In late March, the Illinois House of Representatives passed a bill that would legalize sports gambling across the state. The House also passed a bill that would eliminate the current requirement that sports books provide proof of a bet to the credit card payment processor. Currently the only thing separating the House and Senate from making gambling more accessible to Illinois residents is a presidential pardon granted to Governorard Obama. The House is expected to pass the presidential pardon shortly, thus clearing the way for the pardon to become law. This means that all of Governorard’s recommendations will become law.
The Illinois House also recently approved House Bill 1515, which Legalizes “bookmaking” or gaming, or both. This will allow online and land-based sports books to operate throughout Illinois as legitimate businesses. Online sports books have been widely criticized in the past for being fronts for mobsters and other individuals trying to take advantage of unknowing bookies. The new legislation makes it so a bookie can legally make money off of any type of wager. Previously, a sports bettor could only get paid if he won his or her game.
The Governor has also signed into law the Electronic Funds Transfer Act. This takes effect immediately and will allow all legal bookies who are licensed to take payments from credit cards and other electronic funds transfer methods. This also means that all retail locations will be able to take deposits from credit cards. This is good news for Illinois residents who do not want to deal with a shady business. It makes Illinois just another state where people can now enjoy their right to take bets and win.
Another piece of good news in regards to Illinois’ betting industry is the fact that the first time lottery winners will be eligible to get paid from gambling winnings. Illinois is one of twenty states that offer first time lottery winners compensation. This new regulation was created as a means of encouraging more young people to try and be successful in the world of gambling. By making lottery winnings more accessible, Illinois is hoping to foster a sense of pride and accomplishment among those who have succeeded in winning the lottery. There have been recent reports that show a significant rise in the number of people who have recently won the lottery.
One feature that many online gamblers aren’t familiar with is the lack of restrictions on the amount of bets they can place during the course of a game. Many laws in Illinois restrict how much money that can be placed on bets at any one time, but only to limit the maximum amount that can be taken out during a single transaction. With no in-person interface to the sports book, in-person wagers are subject to the same laws and regulations that apply in Cook County, including all applicable taxes and gratuities. Online gaming is not subject to any taxes or licensing fees.
Unlike many other states, Illinois does not have any ongoing problem with organized crime. Most of the major casinos and hotels are located in Chicago. Illinois has the thirteenth largest volume of licensed casinos in the country. In addition, many of Illinois’ professional and amateur teams play games at the professional and amateur casinos located throughout the state. Professional and college sports betting is very popular and the overwhelming number of sports books make sports betting easy and accessible for the general public.
The odds for winning at any of the numerous gaming venues in Illinois are among the lowest in the country. Illinois is home to some of the nation’s top-rated casinos and it boasts the most number of sports books in the entire country. Many of the professional bookmakers have set up operations in Chicago and some of the locally owned and operated sportsbooks are among the favorites in the Illinois sports betting market.
Chicago is host to a full slate of professional sports teams, including the Chicago Bears, Chicago Bulls, Chicago White Sox, Cleveland Indians, Chicago Cubs, Houston Rockets, Milwaukee Bucks, Washington Caps, and Washington Mystics. This long list of professional teams and events makes it a prime destination for people who enjoy wagering on sports. The legal online sports betting launched here in June of 2021 will undoubtedly make this state’s legal online sports betting market even more popular and lucrative. With the launch of these sportsbooks, more people will get the opportunity to reap the benefits of this booming business.
