No Agreement On Illinois Sports Betting License Fees

No Agreement On Illinois Sports Betting License Fees

Lawmakers in Illinois stand divided on the question of sports betting license plan and fees. There are at least five different plans on the table to be considered by the legislature.

Earlier, last week, on Thursday, a proposal of $10 million one-time license fee has been discussed by the House Revenue and Finance subcommittee during a second hearing on sports betting legislation in Chicago.

The house bill 3308, which calls for legalization of sports betting in the state is under consideration, and the hearings will help decide the licensing fee for casino operators as the legislators currently, seem, to differ.

According to a report published in the Daily Herald, Robert Davidman, a marketing professional, is quoted saying “If the licensing fee is too high, it’s going to prohibit people from entering the market.”

According to Davidman, the fees in neighboring states of Iowa and Indiana are better. The two states are charging $45,000 and $100,000 respectively. He also points out that Pennsylvania with a sports gambling license fee of 10 million has failed to sell all its licenses.

Democrat Rep. Michael Zalewski, said, “I consider it a sort of Damocles [sword] hanging us that Iowa and Indiana may get this done before we do and it very much makes me want to get this done as soon as possible.”

According to Zalewski, if the state delays in regulating sports betting they may be left behind the other states which are quick to legalize sports betting.

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