Illinois lawmakers held a Senate hearing on Tuesday to consider three bills that would legalize sports betting, creating a market that one gaming analyst said could be worth up to $680m in annual revenue.
Chris Grove, managing director of Eilers & Krejcik Gaming, estimates if sports betting was legal only in land-based outlets they would generate $301m annually, while bricks-and-mortar and online betting would bring in about $680m in annual revenue.
A 10 percent tax would generate from about $30m to $68m in state tax revenue.
Grove told lawmakers they should “strive to be competitive with illegal sportsbooks” when it comes to promoting competitive pricing, offering the most betting markets possible, and consumer education.
To continue reading please log in or request a demo to speak to a member of the team.
Request a Trial
Click here to request a trial