If everything goes according to plan, punters in Illinois could be enjoying iGaming as soon as next year. As soon as iGaming in the state is legalized, Illinois gamblers will be spoilt for choice as far as online casino games are concerned. Soon, punters will have an array of traditional casino games to choose from online including slot machines, roulette, blackjack, and of course poker.
Presently, gamblers in Illinois do not have access to legal online casinos. If players want to take part in online poker, for instance, they have to avail themselves physically to a casino to access a poker room. Punters in the state have several poker rooms to choose from with some of the biggest being Rivers Casino des Plaines, Bally’s Quad Cities Casino & Hotel, as well as the Grand Victoria Casino in Elgin.
Although these are some of the bigger poker rooms in Illinois, punters can still find smaller poker rooms strewn all over the state. Even though online poker is not legal in Illinois, the good news is that punters in the state do have access to legal online sports betting. Illinois has enjoyed sports betting since the state legislature permitted it in June 2019.
Today, Illinois has one of the most vibrant and successful sports betting markets in the country as a result. Furthermore, since the state got rid of in-person registrations, the sports wagering market in the state will only keep improving as time goes by. As such, for now, online punters will have to contend with their growing sports betting market as they wait for the legalization of iGaming in the state.
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The iGaming legalization process is slow but steady
iGaming, which includes online poker, is only legal in 6 states. Despite only being legal in a handful of states, iGaming is easily the fastest growing type of betting according to the American Gaming Association. Currently, only New Jersey, Michigan, Delaware, Pennsylvania, Connecticut, and West Virginia enjoy legal iGaming in its entirety.
Although iGaming is only available in 6 states, revenue is at least 86% higher compared to sports betting. Many experts attribute the quick growth of iGaming to the pandemic, which led to the closure of numerous casinos, as well as restricted operations. Yet, even now that the world has largely returned to pre-pandemic operations, iGaming continues to remain dominant.
As time progresses, this will likely influence other states, including Illinois, to consider legalizing their iGaming markets. iGaming has lots of potential benefits for punters and the states themselves. For instance, the states that currently permit iGaming typically impose high tax rates, which are then re-directed to community projects and development plans.
Case in point, in New Jersey, retail books only pay 9.75% of their proceeds as tax. Meanwhile, mobile sports betting and iGaming operators in the Garden State give 14.25% and 15% respectively to the state. Pennsylvania, alternatively, requires online slot operators to pay an enormous 54% of their total revenue.
Michigan online casinos, on the other hand, have been legal since January 2021. Since their debut, the casinos have managed to generate $1.6 billion in revenue, in addition to a weighty $427 million in tax dollars generated for the state. For comparison’s sake, Illinois has managed to generate $900 million in sports betting revenue and $140 million in taxes since sports betting was first legalized.
These hefty numbers mean that online casino games have a huge potential to contribute to the local Illinois economy. A recent report done by the Illinois State Senate suggests that iGaming in the state could generate some of the biggest numbers if given the opportunity. This truly makes the idea of legalizing iGaming in the state a truly inviting one.
The process of legalizing iGaming in Illinois underway
The great news is that Illinois has already started the process of trying to legalize iGaming. Last year, a house bill (HB 3142), as well as Senate Bill (SB2064) was filed to allow existing casinos in the state and racetracks to offer online casinos. Both bills set the betting age at 21 and will permit online operators to have close to 3 online casino accounts for the first 6 months of launching.
The 2 bills also allow the combining of sports betting and iGaming accounts. Casinos will also be allowed to have a wide library of online casino games including slot machines, poker, table game, as well as live dealer versions of casino games. After neighboring Indiana beat Illinois in the sports betting race, introducing legal iGaming in Illinois could be just the thing that gives the Prairie State a leg up over the Hoosier State.
Are punters in Illinois ready for legal iGaming? Definitely! When it is finally permitted, mobile sports wagering platforms are also expected to start offering traditional casino games. iGaming will provide an alternative to sports betting and land-based casinos, much like live casinos and dealer games have supplied punters with an alternative gambling experience.
iGaming allows punters, both experienced and novice to enjoy gaming in the comfort of their homes. As mentioned previously, states like New Jersey have enjoyed legal iGaming for years since 2013 and have experienced tremendous success with the industry, generating additional revenue for the state without diminishing the importance of its sports betting and brick-and-mortar casino markets. Online Gaming is also the perfect complementary product for sports betting as the 2 verticals work together to offer a seamless gambling experience for customers.
Final Thoughts
Even though iGaming appears to hold the biggest potential of all forms of gambling in the country, last year was a record year for the industry in general. Many of the states that enjoy mobile sports betting posted all-time high profits, causing the industry-wide revenue to reach an impressive $53 billion.
This growth trajectory is expected to persist this year. So much so that the American Gambling Association is preparing for yet another record-shattering year. Even though Illinois has endured many changes in its short gambling history, the challenges have set a new baseline for long-term gaming in the state as providers in Illinois continue to strive to offer punters cutting-edge entertainment.
