According to Illinois Governor J.B. Pritzker, bettors will be able to bet on March Madness in the state this year. This is because after issuing three sports betting license last month, the Illinois Gaming Board (IGB) is confident about it. Therefore, they expect that the Illinois Sports Betting Software and accommodations will be Ready in time for March Madness
According to the latest sports betting software news, three companies can now legally operate a sportsbook in Illinois. These companies are Penn National Gaming, Eldorado Resorts and Midwest Gaming and Entertainment.
Sports betting became legal in Illinois in 2019 after the approval of the gambling expansion bill by the legislature. Now that three sportsbook operators have their temporary license, they are scrambling to be ready in time for March Madness. However, they are optimistic that the Illinois Sports Betting Software and infrastructure will be ready in time.
Illinois Governor Happy about Sportsbooks Opening in Time for March Madness
On Tuesday, the Governor’s office made a statement in advance of today’s Joint Committee on Administrative Rules. Pritzker’s press secretary, Jordan Abudayyeh, said the “governor is pleased that Illinois sportsbooks will open for business by March Madness”. In addition, she said sports betting will generate “revenue to rebuild universities, hospitals, and other facilities across the state”.
For Illinois, this is the “largest-ever capital plan, with investments in every part of the state”. Thus, legal sports betting in Illinois will create over half a million jobs.
Unfortunately, sportsbook operators were not able to get their business running in time for the Super Bowl. However, if they are ready in time for March Madness it will generate a lot of revenue for Illinois. In fact, March Madness Betting Guides estimate that this year, Americans will bet $8.5 billion on March Madness tournament.
If all goes to plan, Illinois lawmakers believe sports betting will be a massive financial success for the state’s coffers. This is because the Illinois will receive 25% of the Gross Gaming Revenue from sports betting license holders. Thus, lawmakers believe the sports betting handle will be as high as $5.2 billion by 2023.