The legislature was quite busy over Memorial Day weekend, much to the dismay of the regulated sports betting industry.
The Illinois Senate amended the state budget to include a new progressive sports betting tax rate for licensed operators, which will see operators pay a tax rate based on their online and retail sports betting revenues.
The Senate version of the budget now heads back to the House for approval. Operators have spent the last several months decrying Gov. J.B. Pritzker s (D) plan to increase the Illinois sports betting tax rate from 15% to 35%, but now face a structure that could see the top-earning operators pay the second-highest tax rate in the entire country.
Big Changes to Illinois Sports Betting Tax Structure
The Illinois Senate passed their …