Illinois Gov. Signs New Progressive Sports Betting Tax Rates into 2025 State Budget

State Governor A progressive sports betting tax hike in Illinois that has sparked controversy in the industry will officially begin July 1.

Following last week’s legislative passing of House Bill 4951 to raise the previous rate from 15%, Pritzker got his wish to use online and retail sports betting and tax changes to help generate $1.1 billion of new revenue in the Land of Lincoln. In February, I said we would continue Illinois' tradition of taking on the real challenges we face and build for the future.The House passed the tax-changing bill on May 26 before the Senate added the progressive rates a day later. The bill went back to the House for concurrence and was approved on May 29.

Illinois joined New York and New Jersey as the only three U.S. states to reach $1 billion in sports betting revenue in 2023. The Land of Lincoln hauled in more than $150 million in tax revenue for the year. The Sports Betting Alliance, which includes DraftKings, FanDuel, BetMGM, and Fanatics Sportsbook, opposed the tax hike, claiming the sports betting companies would have toThe middle and upper tiers of the Land of Lincoln’s new tax rates put the state among the highest in the U.S.

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