Legalized sports betting is on the horizon for the ‘Prairie State,’ and the profits could be a huge windfall. Experts that analyze sports betting data have said this week when sports betting finally does go live, it could rival Nevada. J.B. Pritzker,54, is the billionaire Governor of Illinois, a Democrat, has made legalized sports betting his goal for the state. Pritzker, who is a philanthropist and part of the Pritzker family that owns the Hyatt Hotel chain around the world. Pritzker has been in office since January 14th, 2019, ran on the premise that if elected he would make sports betting legal in the state. The sports betting bill, that Pritzker aggressively fought for, passed the Illinois Legislator this summer. The exact launch date of when sports betting will start has not yet been announced. Some with inside knowledge say that sports betting will start sometime in 2020.
Experts Predict That In The First 4 Years Of Sports Betting Could Rival Nevada
The group of ‘Global Market Advisors’ analyzes all things gambling and sports betting. They say by the year 2023, it’s more than likely that the people of Illinois will fork over more than $5 billion sports betting. The same group of analysts says that the number would be very close to what Nevada would bring in, during the same time period. They say Nevada could see $5.5 billion in 2023. That is an astounding prediction, given the fact that Nevada has had an 88-year jump on Illinois. Gambling became legal in Nevada on March 19th, 1931. Another firm ‘Camelot Lottery Solutions’ weighed on the future of sports betting in Illinois. They say that there is a market right now of around 500,000 people in Illinois that will engage in legalized sports betting.
Predictors Indicate That There Will Be A Mad Dash To Place Bets In Illinois
According to the sports betting bill that passed in the summer of 2019, sports betting can take place at the famed Wrigley Field. Another venue that will be able to legally take sports bets under the bill is the United Center, home to the Chicago Bulls. The market say forecasters will be huge in the state, and bring in all types of revenue. The Camelot Group, operates the Illinois Lottery, says that there are an estimated 30,000 people that regularly place bets on the black market in the state.
Many of those will move over to the legal market, once it launches. Their research also indicates that another 4 million people in the state will casually place sports bets when the industry launches. These numbers were garnered after the Illinois Lottery Commission, asked several companies to gather the research. The Lottery Commission, want to be able to evaluate what changes will take place with the lottery, as sports betting becomes legal.