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Home»Economics»How gambling makes a big profit in Chicago

How gambling makes a big profit in Chicago

23.02.2024
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Illinois is one of the nation’s leading sports betting states, and a gambling insider says online casinos will bring even more money to the state.

A bill has recently been introduced legalizing Internet games. State Senator Cristina Castro has submitted to the Senate Bill 1656, which proposes that the initial cost of an online gambling license is $250,000. Licensed operators will be taxed at a rate of 15% of the adjusted gross gaming income, which will be sent to the State Gambling Fund.

At the moment, only Michigan, Delaware, West Virginia, Connecticut, Pennsylvania and New Jersey have legalized iGaming, and a marketing analyst PlayIllinois.com Eric Ramsey said they all found it profitable.

“They all discover that sports betting is, in fact, an appetizer to the main course. In terms of income, online casino gambling is generally superior to sports betting. This is another level. The revenue will be much bigger,” Ramsey said.

Illinois consistently ranks among the top four states in terms of the number of bets. According to the Illinois Gaming Board, the state placed almost $10 billion in bets last year, which is the third highest in the country.

Ramsey believes that Illinois will also become a leader in online gaming revenue.

“If you guys follow this path and legalize online casino gambling, it will be the most successful market in the country today and will generate significantly more revenue than sports betting,” Ramsey said.

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