Illinois sports betting ‘on track’ for March Madness launch, Pritzker says

Gov. J.B. Pritzker is betting Illinoisans will be able to start putting down big-game money in time for the Big Dance next month.

The freshman Democrat doubled down on the newly legalized sports betting industry’s pending launch while delivering his annual budget address Wednesday to legislators in Springfield, saying it “appears to be on track and will be up and running in time for March Madness.”

His pronouncement marked the first concrete timeline for an industry launch from a state official since Pritzker signed sports wagering into law last summer as part of a massive gambling expansion.

That backs up the claims of the Argosy Casino Alton near St. Louis, which started advertising earlier this month that it would have a sportsbook up and running by the time the NCAA men’s basketball tournament tips off March 17.

Ted Schurter/The State Journal-Register via AP

It was one of three casinos issued temporary sports betting licenses last month by the Illinois Gaming Board, allowing them to ready their sportsbooks before regulators officially allow them to start laying odds on sports.

Executives at Rivers Casino in Des Plaines have said they’re “hopeful” their sportsbook will be operating in time for the tourney, but haven’t pegged a launch date. Nor has the Grand Victoria Casino in Elgin.

Even if the Argosy or any of the other casinos launch sports betting ahead of March Madness, you won’t be able to bet on the Illini or other local schools that might qualify for the tournament. State law prohibits bets on any Illinois collegiate teams.

State regulators still have to approve the companies that supply and manage sports betting technology platforms. A handful of companies have applied for those licenses, but as of Wednesday afternoon, no applications had been submitted for official league data providers, another key component of the industry that’s still in flux.

In his address, Pritzker touted tax revenue from sports betting as a key new revenue stream helping to fund “badly needed maintenance and construction work at our universities, community colleges and state facilities.”

And early returns from the state’s new sports wagering neighbor are promising. Indiana has collected about $5 million in tax revenue since sports betting went live there in September, with much of its handle coming from the Hoosier state’s Chicago-area casinos.