The FY 2025 budget passed out of the House during the wee hours of the morning today, putting a new progressive sports betting tax rate one-step away from becoming a reality for licensed sports betting operators.
The Illinois House concurred with changes made by the Senate to , the state s $53.1 billion FY 2025 budget, approving the document by a 60-47 vote.
The state budget includes the first-ever progressive tax rate for sports betting operators in the country, which will see sportsbooks pay a rate of 20% to 40% based on adjusted gross revenues.
First True Progressive Tax Rate in U.S.
Coming into the budget season, sportsbook operators in Illinois were up in arms after Gov. JB Pritzker (D) suggested increasing the state s sports betting tax rate from 15% to 3…