According to the reports dated December 19, 2019, the gambling regulators of the US state of Illinois have released applications on Thursday for racetracks, casinos, and big stadiums wanting to start sportsbooks. However, there is still no estimate on when the sector may go live, said Marcus Fruchter, the administrator of the Illinois Gaming Board.
The update has brought the sports bettors a step closer to laying legit money into sports betting.
Ten existing casinos, up to 7 sports venues with a capacity of over 17,000, and three racetracks are fit to apply for the 10 million dollar sports wagering licenses. Interestingly, a majority of racetracks, casinos, and professional sports teams of Chicago have indicated to apply for this first sports-betting license batch.
The online-only websites for sports betting have to wait for at least 18 months to apply for any 1 out of the three online-only sports betting licenses worth a massive 20 million dollars a pop. In the meanwhile, sportsbooks of the brick-and-mortar kind can establish their mobile apps for sports betting.
Fruchter also revealed that the second spell of rules on the operation procedures would be released early in the upcoming year, after which their agency would begin issuing temporary permits “in a timely manner.” He was also quoted as saying,
“The goal here is to get a process and a sports wagering system that is correct.”
It is important to note that J.B. Pritzker, the Governor of Illinois, legalized sports betting in Spring this year as a part of the huge gambling expansion. The sports wagering applications, along with a set of rules shaping them, have been released in just short of 6 months from passing the bill, as per the reports.
Hopefully, potential licensees can have their applications reviewed carefully but expeditiously so that bettors can participate in the market in a safe and legal way in the near future,
stated the state Rep. Mike Zalewski.