Sports betting in Chicago is illegal, but partnerships have already formed between teams and sports betting operators in the city. The Cubs have signed a $100 million deal with DraftKings, which would put the first Chicago sportsbook at Wrigley Field in the future.
Nevertheless, this deal means nothing unless the Chicago City Council lifts the ban on sports betting. Wagering is legal in IL, although the city is excluded from the ruling. The partnership was formed between the Cubs and DraftKings with the anticipation that the ban would be lifted.
There are proponents of lifting the ban who believe it’s going to happen in the near future. City Council member Ald. Walter Burnett (27th) is one of the people who are determined to bring betting to Chicago.
The City Council Holds Keys to Sports Betting
Burnett introduced an ordinance that would allow sports betting throughout the city. Money is the primary decision-maker in all decisions, and the regulation would bring extra tax revenue to the city. The lucrative betting industry will likely bring sports betting to the city.
The current plan would establish parameters for sports betting in the city. However, the bill is still primarily limited to professional sports teams and operators. The current plan will allow retail sportsbooks at either Soldier Field, Guaranteed Rate Field, Soldier Field, the United Center, and Wintrust Arena. There could also be a permanent building located within five blocks of one of those buildings.
Sports betting would also be authorized at inter-track betting locations and a casino in the city.
The Illinois General Assembly has approved this site, but the construction process is not close to being finished.
Other Rules for Chicago Sports Betting
The rules that the City Council has proposed are restrictive, but it’s good that they are willing to implement wagering in Chicago. There will be no more than 15 sports betting kiosks or windows allowed at the sportsbook.
This would be devastating for a franchise if a sportsbook were on the property. People would be unable to get a bet placed because of the popularity and limited kiosks. Although, if there was a bar and restaurant incorporated into the sportsbook, a permit holder could include more kiosks.
The legal betting age would be 21, and there would be strict time limits put on betting. Late-night betting would not be allowed under the ruling. This would hurt people looking to bet games occurring on the west coast.
There would be two types of licenses granted by the city. A primary license would cost $50,000 to start and have an annual renewal fee of $25,000. Secondary permits would be $10,000 with a yearly cost of $5,000.
The main reason sports betting has been kept out of Chicago is poverty. City council members are afraid people who do not make enough money to live comfortably will blow paychecks at the sportsbooks.
The addiction aspect of sports betting is hard to estimate. However, additional funds will be earned by the state, so sports betting will likely be live in Chicago in future years.