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There is potential for Illinois to pass iGaming legislation in 2025, which would be a significant advancement for the state’s gambling sector by allowing legal online casinos.
Illinois currently offers sports betting, retail casinos, lottery games, video gaming terminals, and horse racing. The only element missing from the mix is iGaming.
Illinois could see progress in online casino legalization next year, but the process may prove more challenging than anticipated.
Illinois online casino progress
Gamblers can play traditional games such as blackjack and slot machines from the convenience of their own homes through internet casinos. Additionally, online poker is often featured on these platforms.
Illinois gamblers have become accustomed to the convenience of online sports betting and internet casinos offer a similar level of ease of access.
Online casinos are highly lucrative as well.
In January 2021, Michigan introduced online casinos to its gambling offerings, leading to $1.6 billion in revenue for gambling companies and $427 million in tax revenue for the state.
Illinois has generated $900 million in sports betting revenue and $140 million in taxes since betting started in March 2020, for comparison purposes.
Simply put, online casinos are typically more profitable than legal sportsbooks.
According to a report from the Illinois State Senate, online casinos in Illinois have the potential to generate significant revenue, making the prospect of introducing gaming options appealing.
Illinois proposed an online casino bill in 2021, but it did not gain much traction. The state is expected to make a stronger push for legalization in early 2025.
What could stop Illinois iGaming?
Legalizing online casinos in Illinois would greatly benefit gamblers, but the process won’t be a simple task.
Expansion of gambling is often met with resistance. As the saying goes, there are always two sides to the coin.
In Illinois, a significant amount of opposition is expected to come from video game terminal (VGT) operators. VGTs are electronic gambling machines commonly located in bars and restaurants.
Illinois leads the nation in the number of VGTs, and the operators of these machines are not enthusiastic about the idea of introducing online casinos.
State Senator Dave Syverson anticipates strong opposition from video gaming terminal (VGT) owners due to their concerns that online casinos may compete with their gambling business.
There is a limited amount of money that people can spend on gaming. Many restaurants, bars, and VFWs in Illinois rely on revenue from video gaming in order to stay in business. If this revenue were to suddenly decrease, it would have a significant impact on their sustainability.
The combination of economic concerns may pose challenges for Illinois in legalizing online casinos next year.
The promising profits present an attractive opportunity, but it remains to be seen if they will outweigh the obstacles that lie ahead. Nonetheless, it is expected that lawmakers will seriously consider legalizing next year.
The introduction of online casinos in Illinois represents the logical progression for the gambling industry and is expected to be well-received by residents statewide. This will undoubtedly keep iGaming at the forefront of lawmakers’ agendas as we approach 2025.
