Two Illinois lawmakers have introduced a bill that would legalize online betting in the Land of Lincoln.
The bill is formally known as House Bill 3142 and is titled the Internet Gaming Act. It would allow Illinois land casinos to apply for internet licenses, which can then offer casino gaming services to their customers. A license fee would be $500,000 up front with $250,000 annual renewal fee. Supplier licenses would run $75,000.
Operators would have to pay 12% taxes on gross gaming revenues, which would be payable to the State Gaming Fund. The state's Department of Human Services will get $10 million of the taxes raked in so that they can launch online gambling addiction treatment issues.
The bill is sitting with the House Rules Committee. If it progresses, it will be debated and voted on in the House. If it makes it through the legislative process it would then head to the Governor's desk, where he can sign it into law.
We'll be closely following this story and updating readers as the bill progresses.