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In a significant move, the Illinois Gaming Board has renewed seven retail sports betting licenses, marking the first renewals since operators began accepting wagers in March 2020. Administrator Marcus Fruchter, exercising his expanded powers granted post-COVID-19, extended these licenses for another four years, valid through June 2028.
The renewed licenses include prominent establishments: Argosy Casino Alton, DraftKings at Casino Queen in East St. Louis, Grand Victoria Casino in Elgin, Hollywood Casino Aurora, Hollywood Casino Joliet, Rivers Casino in Des Plaines, and Par-A-Dice Hotel Casino in East Peoria. These renewals signify a stable and growing sports betting market in Illinois.
Retail sports betting in the state has seen substantial success. Since inception, the total handle has reached $1.12 billion, with $105 million wagered in the first quarter of 2024 alone. Over 46 months, operators have maintained an 8.9% hold, generating $99.5 million in adjusted gross sports betting revenue. The state now boasts 15 retail sports betting locations, with the latest being DraftKings at Wrigley Field, which opened in March. The mix includes 11 casino-based sportsbooks and three off-track betting venues licensed to Hawthorne Race Course.
During the license renewal announcement, Fruchter highlighted a notable regulatory change. The Illinois General Assembly did not extend an amendment that allowed Tier 1 wagers on games involving Illinois-based schools. Starting July 1, pre-game moneyline, point spread, and total wagers on these games will be prohibited. The earliest opportunity to reinstate these bets will be during the fall veto session.
This amendment, which had been in place for over two years, stemmed from a bill by Rep. Bob Rita attached to Senate Bill 0089 and initially passed during the 2021 veto session via HB 3136. Despite efforts to extend these permissions, including a bill introduced by former Rep. Jonathan Carroll in April 2023, no further action was taken following his resignation in January.
Tier 1 retail wagering on college sports proved particularly popular, with $25 million wagered in the first quarter of 2024, marking a 20.4% increase from the previous year. This surge was partly due to Illinois’s advancement to the NCAA Tournament regional final. From January to March 2024, the total number of Tier 1 retail bets on college sports rose by 15.7% compared to the same period in 2023, totaling 155,348 bets.