bet365 Receives Sports Betting License in Illinois
bet365 is joining the Illinois Sports Betting market. When? There is no definitive date yet, but here's what we know.
The Illinois Gaming Board has granted the British-based sportsbook permission to launch both in-person and online in the state, alongside Walker’s Bluff Casino Resort in Cartersville.
No details have been provided on when the sportsbook will open its doors to the betting public. But judging by recent efforts, fans won’t need to wait long, as the bet365 US rollout has been brisk, launching in 11 states within just a couple of years. Users outside of Illinois can still take advantage of the bet365 Bonus code to start betting today.
When they do launch, be sure to use the bet365 Illinois bonus code and get in on the action! Users outside of Illinois can still take advantage of the Bet365 Bonus code to start betting today.
JOINING A CROWDED MARKET
When bet365 launches, it will become the 10th online sportsbook in the Prairie State, joining major names like DraftKings, FanDuel, and BetMGM.
It’ll look to carve a niche within one of the country’s most dynamic betting markets, with Illinois just one of four states to eclipse the $40 billion mark in all-time handle, alongside New Jersey, New York, and Nevada.
So far this year, online sportsbooks in Illinois have clawed in $11 billion in bets - a 23% rise year-on-year. October was the state’s best month yet, taking bets worth $1.45 billion.
Currently, DraftKings is the number one name in the state, closely followed by FanDuel - a pairing that dominates most US sports betting markets.
ILLINOIS BETTING MARKET EVOLVING
bet365 will be joining a market that’s undergone some controversy recently.
Changes to the taxation system introduced by Gov. Pritzker over the summer saw tax on betting revenue adjusted to a sliding scale, ranging from 20% to 40%. The upper level is second only to New York in size, with the Empire State levying a gargantuan 51% tax on its sportsbooks.
However, bet365 won’t have to contend with the 40% rate, as it’s highly unlikely to meet the $200 million GGR threshold. In New Jersey, a market comparable in size to Illinois, bet365’s revenue for October was $3.66 million.
bet365 CONTINUES EXPANSION
In October, a spokesperson for bet365 stated the company was concentrating on “driving growth in our live states.”
However, recent actions have shown that bet365 is also not averse to expanding its footprint. The recent expansion into Illinois follows the British sportsbook's July opening in Pennsylvania, another major US betting market where Bet365 Online Casino is also live.
The bet365 sportsbook can now be found in 11 states, with Illinois waiting in the wings. bet365 Casino is live in Pennsylvania and New Jersey.