States have felt the economic impact of the coronavirus, especially in the casino industry. Places that have betting are missing it, while states that don’t want to pass legislation to allow it.
Illinois has casino gaming and sports betting, but it has been required that it must be done in person. With the closures related to COVID-19, their casinos have been closed since March 16.
The state was down more than $100 million in revenue after the first month of the shutdown.
Now, remote sports betting will be allowed in Illinois after an executive order from Governor JB Pritzker. The order allows citizens of the state to create online accounts and bet from their homes. Casino owners in the state have praised the efforts of the governor for allowing this to happen.
Revenue Needed
The Illinois Gaming Board needed a way to generate revenue for the state during this crisis. As sports are picking back up, online sports wagering is picking back up at a fast pace.
“Governor Pritzker’s executive order allows Illinois sports fans to temporarily place wagers from the safety of their own home, protecting a revenue source that is critical as the state begins to recover from the damaging financial impact of COVID-19,” Marcus Fruchter, Administrator of the IGB said. “The Illinois Gaming Board looks forward to welcoming patrons back to casinos when it is safe to do so.”
Unfortunately for the state, Chicago is still a hot spot for the virus. A state with a city this large might have to fight the virus for a little while longer.
This order will remain effective until after the Gubernatorial Disaster Proclamation is over or the Illinois Gaming Board issues a competitively bid master sports wagering license.
“It makes sense with everything going on,” Illinois Casino Gaming Association executive director Tom Swoik said. “If we’d had online wagering this whole time, we could’ve still been making a little money, and the state could’ve been making a little money, at least.”
For How Long?
A large question remains when the pandemic has come and gone. It would be hard to believe that the state wouldn’t find a way to make this move more permanent in the coming months.
The NHL is starting to make moves to return to play, and Chicago Blackhawks have a spot in the playoffs with the proposed plan. If the MLB can reach an agreement, that will add the Chicago White Sox and Cubs to the professional teams in action in Illinois.
Even with the lack of sports betting options right now, Colorado still did $25 million in May. The state hopes to see a jump as sports continue to come back, but that is better than not having online sports waging.
Experts believe it will be a matter of time before other states jump on board to do exactly as the state of Illinois has. Budgets are going to be an issue, even long after the coronavirus worries go away.