You may or may not know this, but sports betting has recently been legalised in Illinois. Finally, the state has joined dozens of others that have already legalised sports betting activities, both online and in land-based betting systems.
This major move by the state meant that bettors and sports fans could now play their favourite games, players and teams. It also opened up local operations of online casinos and online sports betting services, such as Betway registration , where players could easily do their best and still win real money.
Now that gambling and sports activities combined are protected and regulated by law, let's take a look back at how it became what it is today. Take a look at the various filed versions that have tried to legalise sports betting in the state. Would anything change now if the law wasn't passed the way it was? How might the betting industry change if a different version of the bill went through the governor's office? And by the way https://bitcoinbookies.net/monero-betting-sites/ is very helpful in finding a good version of the betting industry.
Take a look at four versions of the bill to legalise sports betting in Illinois.
Illinois Representative Mike Zalewski, the bill's chief author and proponent, made the first version of his proposal based on existing laws and a model in New Jersey. In fact, he modelled all four versions of his bill on various existing bills in different states.
These versions sought to legalise sports betting in both casinos and racetracks. Online sports betting would also be allowed. For an operator to start operating in the state, the licence will cost $10 million. It would then be renewed every five years for $250,000.
Under this model, the governing body that will oversee and manage this industry will be The Illinois Gaming Board .
This version was based on current Mississippi laws. It is similar in many ways to the first version: it also allows betting on sports in casinos and racetracks. It also allows off-track or OTB betting. This model also allows online sports betting, but is limited to only 10 providers - at least initially.
However, there is a slight difference in fees and licensing. A $10 million licence can be obtained to operate and renewed every five years for $250,000. There will be a 15 per cent tax on the money claimed for things like public infrastructure, schools and state pensions.
The third version is similar to the other two in that it also allows both land-based and online sports betting, giving way to providers such as Betway registration. The difference is that this version required a 0.25% deduction from suppliers to be paid to sports organisations .
In addition, everyone who obtains a licence will be charged a 15% tax. The price of obtaining a licence remains the same as for the other two versions - $10 million.
The fourth and final version was the most excellent of all. In this version, sports betting will be handled and controlled by the Lottery Department. The Department would also be given the right to decide on the system and method of betting. There would not be any specific online or land-based channels for betting, as the department would determine the betting terminals.
This version of the proposal also sought to introduce a staggering 50% tax on the total income of the entire industry.
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