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…
The legislature adjourned sine die on Tuesday, Aug. 20, and did not address or vote on an online sports betting package for the state.
The special legislative session was called by Gov. Jim Pillen (R) to find solutions to the state s high property taxes.
Sen. Eliot Bostar (D-29) successfully moved a constitutional amendment out of committee last week to give voters a say on its legalization, but the package faced an uphill battle and likely would have had little impact on property tax relief.
Governor Supports Online Sports Betting
Despite the Nebraska legislature not addressing online sports betting during the special session, the topic will most likely be debated again in 2025.
Pillen has made no secret of his preference to legalize online sports bett…
Thomas Tuchel turned down the chance to manage Manchester United due to conflicts with the club's transfer policy.
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- Tuchel was in the frame to replace Ten Hag
- Opted not to take the job
- Had concerns about transfer policy
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Dani Olmo has withdrawn for the Spain squad after picking up an injury in the 0-0 draw against Serbia on Thursday.
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- Olmo started life well at Barcelona
- Withdrawn with knee injury while playing for Spain
- Will return to club for assessment
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announced the acquisition of a company to help boost its in-play markets and machine-learning models to create new opportunities for users.
DraftKings yesterday announced the acquisition of Simplebet, a leading sports betting provider of in-game microbetting content and pricing. The transaction has been approved by the board of directors of each DraftKings and Simplebet.
“Live betting represents an area for potential growth for online sports betting, and the proposed acquisition would allow DraftKings to leverage Simplebet’s proprietary technology to create an in-play wagering experience that moves at the speed of sports,” said Corey Gottlieb, DraftKings Chief Product Officer, in a release. “And while we continue to elevate our product offering in this space, we…