FanDuel is taking a different route by purchasing Fairmount Park Racetrack in Collinsville, according to sources confirmed by Sports Handle.
The sports betting giant sees this as a way to go around the application fee and would allow FanDuel, which would otherwise have an 18-month waiting period before it could launch its mobile sportsbook in Illinois, a chance to go live sooner under its own brand name.
The Illinois sports betting law bars mobile-only licensees from beginning for 18 months after the first sportsbook license is issued. Mobile sportsbooks tied to physical locations can launch both retail and digital sportsbooks once licensed and approved by the Gaming Control Board.
Illinois’ sports betting law calls for a 15 percent tax on gross gaming revenue, requires the use of “official league data,” and prohibits betting on Illinois-based collegiate athletic teams.
