Farmers Weekly Review

At the Illinois Gaming Board’s first meeting of the year, it reported that state and local governments earned more than $1.5 billion in tax revenue from Illinois’ 15 licensed casinos, more than 46,000 video gaming terminals and 13 sports wagering operators statewide in 2023.

Total revenue from Jan. 1, 2023, through Dec. 31, 2023:
State taxes – $1,307,113,715
Local taxes – $243,253,726
Total taxes – $1,550,367,441

The total amount of money wagered (or handle) in the Illinois sports wagering market for 2023 was $11.6 billion. Of that amount, $1 billion accounted for in sports wagering adjusted gross revenue (“SWAGR”). SWAGR is the amount of revenue left after winnings were paid to wagerers.

When the 15 percent state sports wagering tax is applied to the SWAGR, the result was $150.3 million in state taxes. Additionally, $10.6 million was generated by the 2 percent Cook County tax on SWAGR.

Patrons can visit the IGB website for a list of approved, legal Illinois sportsbook operators.

Fruchter said when it comes to placing Super Bowl prop bets, also known as side bets, Illinois allows wagering only on activity directly within the control or jurisdiction of the National Football League and/or individuals subject to its Integrity Policy. Such approval does not include actions within the control of a single person/entity outside of the NFL’s oversight and actions not directly related to the conduct of the Super Bowl.

For example, betters cannot bet on the length of the National Anthem or how many times Taylor Swift will be shown on camera, but they can wager on the length of the Anthem compared to the length of a certain play in the game. In addition to wagering on player or in-game statistics and any objective player or in-game statistic in relation to an objective non-game statistic, people can also bet on the color of Gatorade that will be poured on the coach of the winning team as well as the outcome of the coin flip.

At the meeting, the Board’s actions also included:

For video gaming, the IGB approved licenses for:
o 143 video gaming locations
o 73 terminal handlers

The IGB denied video gaming licenses for:
o Seven video gaming location applicants

Illinois is home to 15 casinos, 13 licensed sportsbooks, and a network of more than 8,500 licensed video gaming establishments. Casino gambling, video gaming and sports wagering generated more than $1.5 billion in tax revenue to the state and local communities in calendar year 2023.

If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) or text “GAMB” to 833234. Individuals can enroll in the IGB Self-Exclusion Program at all of the IGB offices located at all casinos. Additional information can be found at https://www.igb.illinois.gov/selfexclusion.