{"id":651488,"date":"2024-12-18T09:04:42","date_gmt":"2024-12-18T14:04:42","guid":{"rendered":"https:\/\/www.sportsbettingdime.com\/?p=651488"},"modified":"2024-12-18T09:04:42","modified_gmt":"2024-12-18T14:04:42","slug":"illinois-set-to-welcome-bet365-into-sports-betting-market","status":"publish","type":"post","link":"https:\/\/www.sportsbettingdime.com\/news\/betting\/illinois-set-to-welcome-bet365-into-sports-betting-market\/","title":{"rendered":"Illinois Set to Welcome bet365 into Sports Betting Market"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><ul>\n<li>The Illinois Gaming Board awarded bet365 a sports betting license<\/li>\n<li>The operator will launch sometime in 2025<\/li>\n<li>Its partnership will be with Walker&rsquo;s Bluff Casino Resort<\/li>\n<\/ul>\n<hr>\n<p><a href=\"https:\/\/www.sportsbettingdime.com\/us\/illinois\/\" target=\"_blank\" rel=\"noopener\">Illinois<\/a> is ready to welcome <a href=\"https:\/\/www.sportsbettingdime.com\/sportsbooks\/bet365\/\" target=\"_blank\" rel=\"noopener\">bet365<\/a> into the sports betting fold.<\/p>\n<p>Last week the Illinois Gaming Board approved the British operator&rsquo;s sports betting license application, which will be the 10th online sports betting platform in the Prairie State when it launches next year.<\/p><div class=\"\" data-freestar-ad=\"__300x250 __300x250\" id=\"sportsbettingdime_InContent_1\">\n        <script data-cfasync=\"false\" type=\"text\/javascript\">\n            freestar.config.enabled_slots.push({\n                placementName: \"sportsbettingdime_InContent_1\",\n                slotId: \"sportsbettingdime_InContent_1\"\n            });\n        <\/script>\n    <\/div>\n\n<p>The online sports betting operator enters the state through a partnership with Walker&rsquo;s Bluff Casino Resort.<\/p>\n<h2>Newest State for bet365<\/h2>\n<p>When the British gaming operator launches in Illinois in 2025 it will be the 12th live state for the platform. Bet365 currently operates in the following states:<\/p>\n<ul>\n<li>Arizona<\/li>\n<li>Colorado<\/li>\n<li>Indiana<\/li>\n<li>Iowa<\/li>\n<li>Kentucky<\/li>\n<li>Louisiana<\/li>\n<li>New Jersey<\/li>\n<li>North Carolina<\/li>\n<li>Ohio<\/li>\n<li>Pennsylvania<\/li>\n<li>Virginia<\/li>\n<\/ul>\n<p>The operator was late to the game entering the United States, but has since made a relatively surprising impact on the sports betting market. It consistently operates in the top-three of sportsbooks in the highly competitive Ohio sports betting market. In October, bet365 users bet more than $72.2 million online with the sportsbook, which led to more than $6.1 million in taxable revenue for the month.<\/p>\n<p>It lagged only behind FanDuel and DraftKings in the Buckeye State in terms of handle and taxable revenue for the month.<\/p>\n<p>Bet365 will be the 10th live online sports betting operator in the state when it launches. It will join the following operators:<\/p>\n<ul>\n<li>BetMGM<\/li>\n<li>BetRivers<\/li>\n<li>Caesars Sportsbook<\/li>\n<li>Circa Sports<\/li>\n<li>DraftKings<\/li>\n<li>ESPN Bet<\/li>\n<li>Fanatics Sportsbook<\/li>\n<li>FanDuel<\/li>\n<li>Hard Rock Bet<\/li>\n<\/ul>\n<h2>Joining New Tax Structure<\/h2>\n<p>Bet365 is launching in Illinois and will be subjected to the state&rsquo;s new sports betting tax rate structure, which Gov.&nbsp;<strong>J.B. Pritzker<\/strong> (D) approved when he signed the Illinois FY 2025 budget into law earlier this year.<\/p>\n<p>The state budget included the first-ever progressive tax rate for sports betting operators in the country, which will see sportsbooks pay a rate of 20% to 40% based on adjusted gross revenues. The new tax rate went into effect on July 1, 2024. Financial analysts projected the progressive tax rate will bring nearly $200 million more in revenue to the state.<\/p>\n<p>Based on the new structure, operators have to pay taxes based on the following adjusted gross sports betting revenue totals:<\/p>\n<ul>\n<li>$0 to $30 million: 20%<\/li>\n<li>$30 million to $50 million: 25%<\/li>\n<li>$50 million to $100 million: 30%<\/li>\n<li>$100 million to $200 million: 35%<\/li>\n<li>Over $200 million: 40%<\/li>\n<\/ul>\n<p>Operators are also required to pay separate taxes based on the sliding scale for both retail and online sportsbooks.<\/p>\n<p>When the state approved sports betting it taxed operators at a flat rate of 15% of gross gaming revenues.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"<p>The Illinois Gaming Board approved bet365&#8217;s application to operate online sports betting in the Prairie State. <\/p>\n","protected":false},"author":151,"featured_media":651501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"website_editions":[],"website_editions_hreflang":[],"website_editions_default_edition":"us","website_editions_htmllang":"us","content_studio_integration_article_id":"","footnotes":""},"categories":[219383],"tags":[219424],"content_buckets":[],"class_list":["post-651488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting","tag-illinois"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/posts\/651488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/users\/151"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/comments?post=651488"}],"version-history":[{"count":1,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/posts\/651488\/revisions"}],"predecessor-version":[{"id":651502,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/posts\/651488\/revisions\/651502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/media\/651501"}],"wp:attachment":[{"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/media?parent=651488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/categories?post=651488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/tags?post=651488"},{"taxonomy":"content_buckets","embeddable":true,"href":"https:\/\/www.sportsbettingdime.com\/wp-json\/wp\/v2\/content_buckets?post=651488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}