bet365 secures Illinois sportsbook licence

Envision placing wagers with a global betting giant in one of the most lucrative US markets.
The Illinois Gaming Board just granted a prized sportsbook licence to bet365, catapulting it into a booming industry.
Imagine a transformed landscape where online sports betting thrives and future iGaming expansion looms large.
Stay informed, embrace the new opportunities, and prepare as Illinois sets the stage for America’s next gaming frontier.

bet365 Launches into Illinois: Groundbreaking Licence Fuels State’s Rapid Gambling Expansion

3 Key Points:

1. The bet365 Illinois licence opens doors for both retail and online sports betting in a top-tier US market.
2. The Illinois Gaming Board has also licensed a new casino, advancing its multi-year gaming expansion strategy.
3. Advocates push for iGaming revenue potential, and lawmakers consider future legislation to regulate online casino gaming.

The Illinois Gaming Board (IGB) has issued a crucial licence that clears the path for bet365 to enter the state’s thriving sports betting market. During its final meeting of 2024, the IGB granted a Master Sports Wagering License to Walker’s Bluff Casino Resort, LLC, and a Management Services Provider License to Hillside (Illinois) LLC. This move allows the bet365 Illinois licence partnership to deliver both retail and online sports betting services in the state, pending remaining regulatory steps.

Since Illinois legalized sports wagering in 2020, the market has flourished. Operators have transformed a once illicit sector into a legitimate revenue generator. Indeed, sportsbooks report a total handle of $41.3 billion and $3.4 billion in revenue since launch. Moreover, top operators like DraftKings and FanDuel have established strong footholds, with DraftKings handling $4 billion in wagers and FanDuel close behind at $3.7 billion. Yet, the arrival of bet365 introduces a globally recognized brand known for its robust platforms, competitive odds, and dynamic betting markets.

However, it’s not just about wagering. Operators have paid hefty entry fees, sometimes reaching $25 million per licence. In turn, Illinois reaps the rewards. The industry has contributed more than $155 million in state and local taxes in 2023 alone. This windfall supports state programs and infrastructure, reinforcing Illinois as a prime destination for gaming investments.

Now that bet365 has secured its spot, it will join the ranks of major players licensed across the United States. At present, the company is active in 12 states, including New Jersey, Colorado, Virginia, Iowa, and Ohio. The addition of Illinois represents a significant milestone, as the state continues to embrace regulated gambling. Nationwide, 38 states have legalized sports betting in some form. More than 20 of these, including Illinois, permit online sportsbooks.

The IGB’s recent decision also included the issuance of a new casino owner’s licence. Wind Creek IL LLC received approval for its Wind Creek Chicago Southland property. This action adds the 16th casino owner’s licence to Illinois’ roster. Since the passage of gaming expansion legislation in 2019, Illinois has steadily authorized new casinos, boosting revenue streams and job creation. As IGB Administrator Marcus D. Fruchter noted, the IGB has collected over $386 million in fees from these new casinos. These funds bolster the state’s Rebuild fund, fueling critical infrastructure projects across Illinois.

Looking ahead, online casino legalization remains a hot topic. Some experts predict significant iGaming revenue growth if the state decides to regulate online casino gaming. Charles Gillespie, CEO of Gambling.com Group, suggests iGaming could yield as much as $10 billion in fresh revenue over the next five years. Representative Edgar Gonzalez Jr. continues to champion iGaming legislation. Although earlier bills faced hurdles, supporters believe 2025 could finally see progress.

The stakes are high for bet365, which holds a strong reputation in sports betting but aims to improve its iGaming revenue performance. In some states, bet365’s online casino returns have lagged behind competitors. Expanded regulation and a more mature US market could offer the perfect opportunity to refine strategies.

The issuance of the bet365 Illinois licence marks another pivotal chapter in the state’s gaming narrative. With established sportsbooks thriving and a new global entrant set to shake up the market, Illinois stands poised for continued growth. As the discussion around iGaming intensifies, operators, lawmakers, and industry stakeholders await the next wave of reforms. Whether through sports betting or online casino expansion, Illinois aims to maintain its momentum, fostering innovation, competition, and robust revenue streams in the years to come.