Lawmaker Introduces Bill To License Sports Wagering Exchanges In Illinois

New Jersey is currently the only state where exchange betting is offered

Illinois Rep. Bob Rita has introduced an amendment to the state’s Sports Wagering Act that would allow sports wagering exchanges in the Land of Lincoln.

The initial license fee would cost $500,000 and be valid for four years, with a license renewal costing $100,000. The license would also be restricted exclusively to exchange trade wagering and not permit a licensee to expand into other gaming disciplines.

Another licensee category for sports wagering could add to an already notable workload facing the IGB, which currently has two vacancies on its five-person board. Rita, though, did help streamline the licensing process in November 2021 when he helped pass HB 3136 during the veto session that year.

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at [email protected]