Illinois State Budget May Increase the Sports Betting Tax Rate
May 24, 2024
The legislature is still working on the final details for the state budget, and the sports betting tax increase is a major point of discussion.
There has been a concerted lobbying effort to discourage lawmakers from approving this dramatic tax hike, or find other revenue alternatives such as iGaming. With the state needing revenues, it is possible that there will be some increase in the sports betting tax rate. Some have proposed a graduated rate which would impose up to a 51% tax rate