The legalization of online gambling has been a topic broadly considered in several US states since the beginning of the year. And there have been states to have progressed their iGaming legislative efforts significantly over the months, although a law has not been signed in any of those.
Illinois joined the ranks recently, emerging as a dark horse and moving forward an online gaming and daily fantasy sports bill overnight.
The state Senate considered and approved H 479 on Wednesday, laying the foundations for the establishment of a regulated iGaming market in the state. The legislative piece initially provided for the legalization of daily fantasy sports within Illinois’ borders but was amended to feature online gambling provisions days before the Legislature’s scheduled adjournment.
The bill was discussed in brief in the Senate on Wednesday and was then passed by a large margin of 42-10. Among other things, it will allow both existing casino operators in the state and ones from outside Illinois to set up online gaming businesses in the state. Interested companies will be allowed to offer online casino games and poker.
The bill now needs to win a majority in the state House. Illinois’ lower legislative house discussed the matter on Wednesday and came very close to a vote, but one did not take place eventually. However, this does not mean that the effort is dead for this year.
House lawmakers announced that despite the Wednesday official adjournment, they are set to meet in what would be a continuous legislative session as they have an important issue to find a solution to.
Illinois has been in a more than two-year budget impasse with legislators repeatedly failing to address the problem by finding new revenue streams and somehow improve the state’s current financial situation. Gambling has been considered by the Legislature as one such potential revenue stream on several occasions.
A land-based gambling expansion bill passed a key Senate vote in May and now anticipates approval from the House. Under SB 7, five land-based casinos may be built around the state, thus ending riverboats’ long-standing monopoly. If approved in the House and signed into law by Gov. Bruce Rauner, the casino expansion is hoped to generate substantial tax revenue for the state and alleviate its current fiscal crisis.
According to analysts, the legalization of online gambling and daily fantasy sports will, too, have a significant positive impact on the state’s economy, generating millions of dollars in tax revenue for the coffers at a time when additional funds are badly needed.
