Lawmakers in Illinois are considering legalizing internet gambling, also known as iGaming, to help boost state revenues in the face of a possible budget deficit and uncertainty about federal funding. Proponents argue that many Illinois residents are already gambling online illegally, and legalizing iGaming could bring in an additional $1 billion annually in tax revenue. However, opponents, including some casinos and hospitality groups, warn that iGaming could cannibalize existing gambling outlets and lead to job losses.
The Illinois Gaming Board opposes the bill to legalize iGaming due to concerns about regulatory responsibilities and the impact on existing gambling establishments. Some lawmakers are hesitant to move forward with iGaming legalization, citing potential negative consequences such as reduced in-person casino traffic and job losses. Proponents argue that iGaming could attract new customers to brick-and-mortar casinos and help fill the state’s budget gap.
While the debate over legalizing iGaming continues, Illinois has seen growth in its gambling industry, with overall casino revenue increasing due to new casinos and continued growth at existing establishments. The state’s sports betting market is the second largest in the nation, and the video gambling terminal industry is the largest in any state with legal VGTs. The future of iGaming in Illinois remains uncertain as lawmakers weigh the potential benefits and drawbacks of legalization.
