The Sports Betting Alliance, a prominent group advocating for the rights of sports bettors in Illinois, has issued a warning to the state’s gambling community about a potential tax increase that could have a significant impact on their ability to wager on sporting events.
The warning comes as lawmakers in Illinois consider raising the tax rate on sports betting, a move that the Sports Betting Alliance believes could drive bettors away from legal, regulated sportsbooks and towards illegal, unregulated operators.
“Sports betting is a rapidly growing industry in Illinois, and increasing the tax rate could stifle that growth and drive bettors to offshore operators who operate outside of the law,” said John Doe, a spokesperson for the Sports Betting Alliance. “This would not only hurt the state’s tax revenue from sports betting but also put consumers at risk of fraud and other illegal activities.”
Currently, the tax rate on sports betting in Illinois stands at 15%, one of the highest in the country. Lawmakers are considering raising the tax rate to as high as 25%, a move that the Sports Betting Alliance believes would be detrimental to both bettors and the state’s sports betting industry as a whole.
In addition to the tax increase, the Sports Betting Alliance also warned that higher taxes could lead to decreased odds and payouts for bettors, further deterring them from using legal, regulated sportsbooks in Illinois.
“We urge lawmakers to carefully consider the impact of any tax increase on sports betting in Illinois,” said Doe. “It’s important to strike a balance between generating revenue for the state and ensuring a competitive and fair market for bettors.”
The Sports Betting Alliance is calling on bettors in Illinois to voice their concerns to lawmakers and advocate for a tax rate that is fair and sustainable for the state’s sports betting industry. They are also urging bettors to continue using legal, regulated sportsbooks in Illinois to ensure their safety and security while wagering on sports.
As the debate over sports betting taxes continues in Illinois, the Sports Betting Alliance remains committed to protecting the rights and interests of bettors in the state and advocating for policies that promote a healthy and vibrant sports betting industry.
