You can’t blame the Illinois Gaming Board (IGB) for trying. The law permits the state to issue three standalone licenses through an auction of sorts.
Alas, both 2021 and 2022 came and went without a bidder. So this year the agency launched a supplemental bidding opportunity. Betway said they’re interested. But the sportsbook withdrew anyway. No reason given.
Some say the rather costly $20 million license fee might deter the bidding from Betway or anyone else. Yet others think the fee is not overbearing as Illinois is a major sports betting market.
“That’s all that we have to say about that at this time. But that process unfortunately ends with no license to be issued at this time,” said Marcus Fruchter, administrator of the IGB, according to Gaming Today.
In 2019, legal sports betting in Illinois was passed through the state Legislature, with “tethered” licenses, where operators partner with physical sportsbooks. The law also allows for the issuance of three standalone licenses, obtainable through a competitive bidding procedure.
Rivers Casino became the first sportsbook to obtain a sports betting operating license in the state, collecting the initial wager in March 2020, just as Covid struck.
By March 2021, Illinois featured six legal online sportsbooks, including BetRivers, FanDuel, PointsBet, Caesar Sportsbook, DraftKings and Barstool Sportsbook. Following the recent addition of Circa Sports, Illinois currently is home to eight legal online sportsbooks.
BetMGM became the seventh sportsbook in the state in January 2022. Circa Sports became number eight. A lack of Betway hasn’t hurt the fortunes any.
But…the book is not closed it seems. Unibet is aspiring to become a part of the ranks, as the sportsbook’s application is currently under evaluation.
If granted, Unibet would be tethered to Argosy Casino Alton.
