An Illinois lawmaker has proposed a progressive sports activities betting tax price as an choice to Gov. JB Pritzker’s proposed increase to 35% for the future fiscal calendar year commencing July 1.
The minimal tax fee as component of HB 4951 is 20%, an raise from the present-day 15% rate at all levels of operator modified gross earnings. The threshold boosts to 25% at $30 million in modified gross income 30% more than $50 million 35% about $100 million and 40% in excess of $200 million.
Of the eight cellular sports betting operators presently in Illinois, only FanDuel ($429.3 million) and DraftKings ($350 million) would arrive at that greatest 40% threshold dependent on their very last 12 months of winnings.
BetRivers ($81.1 million) and Fanatics Sportsbook ($51.7 million) are the only other operators that would cross into the 30% threshold, but ESPN Wager likely would get to that benchmark as nicely in a comprehensive 12-month span.
Pritzker initially known as for a 35% tax price on operator sports activities betting winnings in February as element of his $52.7 billion finances unveiled in February, with the improve approximated to supply an more $200 million in tax revenue.
Sporting activities betting in Illinois generated $1.03 billion in AGR in the 2023 calendar 12 months, resulting in $151.4 million in condition taxes.
