Illinois Gaming Board issues sportsbook licence to bet365

During its final meeting of 2024, the Illinois Gaming Board (IGB) awarded a new licence giving bet365 access to the state’s growing sports betting market.

The IGB has granted a Master Sports Wagering License to Walker’s Bluff Casino Resort, LLC, and a Management Services Provider License to Hillside (Illinois) LLC, which will operate under the bet365 brand.

This partnership paves the way for Walker’s Bluff and bet365 to collaborate on launching retail and online sports betting operations in the state, subject to regulatory approvals.

Since the legalisation of sports wagering in Illinois in 2020, the industry has flourished, transforming what was once an illegal market into a significant revenue generator.

Since the launch, sportsbooks have reported a total handle of $41.3bn and $3.4bn in revenue. DraftKings took in $4bn in wagers through October, while FanDuel reported a total handle of $3.7bn.

In addition, operators have paid entry fees of up to $25m per licence, and the industry contributed over $155m in state and local taxes in 2023.

Bet365 has steadily expanded its US presence in recent years. The company is now licensed in 12 states, including New Jersey, Colorado, Virginia, Iowa, and Ohio.

Across the US, 38 states have legalised sports betting in some form, with over 20 states, including Illinois, allowing online sportsbooks.

Illinois adds another casino

In addition to the sports betting licence, the IGB has also issued a new casino owner’s licence, the 16th in the state.

This went to Wind Creek IL LLC for its Wind Creek Chicago Southland property. The development marks Illinois’ continued expansion under the 2019 gaming legislation, which authorised six new casino licences.

The IGB Administrator, Marcus D. Fruchter, highlighted the financial impact of these expansions, noting that the IGB has collected over $386m in gaming application and licensing fees from operators of the newly licensed casinos since the first, located in Rockford, began operations three years ago.

The collected funds have been funnelled into Illinois’ Rebuild fund, supporting vital infrastructure projects statewide.

Illinois online casino legislation could be next

While Illinois has embraced sports betting, the state has yet to legalise online casino gaming. Advocates argue that regulating and taxing online casino games could significantly boost revenue.

Charles Gillespie, CEO of Gambling.com Group, estimates that iGaming could generate nearly $10bn in new revenue over the next five years.

State Representative Edgar Gonzalez Jr. has been a vocal proponent of iGaming in Illinois. Despite setbacks with recent online casino bills, Gonzalez remains committed to reintroducing legislation in 2025.

His efforts aim to tap into the potential revenue stream while ensuring robust regulatory frameworks to address concerns.

This would benefit bet365, which operates its online casino platform in several states. While it has a strong position on the sports betting side, its iGaming performance has been weaker in those states.

In Pennsylvania, for example, Presque Isle Downs and Casino, which partnered with bet365 for iGaming, saw online casino revenue totalling $2.1m in November. This was the third worst performance out of the 12 licensed operators.

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