Illinois approves per-wager tax on online sports bets from July
Illinois lawmakers approved a tax of 25 cents on each of the first 20 million online sports bets placed annually, rising to 50 cents per additional wager, according to the report. The measure is part of the state’s fiscal 2025 budget and is due to take effect on 1 July, pending the governor’s signature, which he has promised. The Sports Betting Alliance opposed the tax; Citizens JMP analysts estimate it could reduce FanDuel and DraftKings’ combined adjusted EBITDA by $80 million in 2026.
The new per-wager charge adds a tax cost for sportsbooks operating in Illinois.