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https://www.bookmakersreview.com/industry/illinois-lawmakers-increase-tax-rate-sportsbook-operators/
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Illinois Lawmakers Increase Tax Rate on Sportsbook Operators
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The landmark Chicago Theater, built in 1921, sits along North State Street in the city's downtown on May 30, 2024 in Chicago, Illinois. Scott Olson/Getty Images/AFP The Illinois House granted Governor JB Pritzker’s wish when it passed HB 4951, a budget bill that more than doubled the state’s sports betting tax. As part of the $53.1 billion budget, the bill introduces a tiered tax system based on total revenue collected. With Pritzker expected to sign the bill, attention now shifts to how sportsbooks and other markets will adapt to the tax increase. This all started in February when Governor Pritzker revealed his initial budget, which proposed raising taxes on businesses and sports betting revenue. His proposal increased the sports betting rate from 15% to 35%. Lawmakers u...
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