Illinois launches sports betting licensing process
The Illinois Gaming Board has issued emergency rules to kick off the first phase of the state’s sports betting licensing process.
The emergency rules issued by the Gaming Board make master sports wagering, management service provider, supplier, official league data supplier, management service provider and occupational licences available.
They set out the eligibility criteria for each, and confirm the fee for master licences will be 5% of handle for the 2018 calendar year, at a minimum of $2.3m, and capped at $10m. Racetracks that apply for this licence will pay whichever is greater of $5m or 5% of 2018 handle, also capped at $10m.
While an online betting licence is to be capped at $20m, this is not included in the emergency rules.
They also set out the licensing process, and allow the regulator to issue temporary operating permits in “situations that do not compromise gaming integrity or public safety and that can be granted in an ethical and expeditious manner”.
“Today’s release of applications and phase 1 rules is a significant step in the process the General Assembly and Governor Pritzker began earlier this year – the ethical and transparent implementation of sports wagering in Illinois,” Illinois Gaming Board administrator Marcus Fruchter said.
Read the full story on iGB North America.