Name: Chicago May Impose Extra Taxes on Local Sportsbooks
Uploaded: 2025-12-26T13:55:24-05:00
Duration: 2 min 51 s
Description: Chicago suggests a tax on sportsbooks, prompting fears that giants may leave. For more legal analysis across the gaming industry, check out Legal Sports Report.

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Chicago suggests a tax on sportsbooks, prompting fears that giants may leave. For more legal analysis across the gaming industry, check out Legal Sports Report.

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For Chicago. You'll have to catch me up here, Sam, because obviously, I could read the story here, but I, I don't know why this has really come down to the wire so much where because of some, I mean, I don't know what, what you would call it, language maybe in their budget, that some sports books are saying that they could potentially shut down. Uh, how, how did this happen so fast and catch up on us here at the end of the year? Yeah, it really is a fascinating development. Chicago is the first city in the US to propose taxing sports books on top of what the state already taxes. You know, historically, the states have taxed sports books at a certain rate. Some states very high, some states very low. In Illinois, there's been about 3 tax hikes over the past year and a half years of sports betting where sports books now have to pay about a 40% rate for the highest sports books on top of a per. Uh, per bet fee, a 50 cents fee, uh, per bet that they have to pay. And we've seen them pass it down to the customer because it's kind of been untenable for them to continue business. Now, as the state was having a lot of success doing that, the city of Chicago has said, why don't we place an additional tax on sports books? So there's a 10.25% tax currently proposed in the city's budget that would then layer that additional tax on top of sports books. Uh, the budget is set to go in effect. January 1st, uh, as is proposed right now, it has not been changed despite sports books, uh, like FanDuel, DraftKings, and Bed MGM this week coming out saying that we might have to pull out of the city of Chicago if this goes into effect. So, effectively, it would be a change that was added in the budget instead of lawmakers passing a law on their own. It's something that happens a lot in politics where you want to change the law by making it one of many things that you change in a bigger budget that gets passed. Because it includes tax revenue as opposed to, you know, just proposing this, um, in the city council, where it would really just kind of be weighed on the merits of itself. We have now the sports book saying we might pull out of Chicago. Whether or not they do that remains to be seen. There's still time for, uh, the city to effectively change its budget and not pass this. Uh, you have had a lot of lawmakers urge them not to do it. Um, but yeah, it would be huge news if this actually ends up going through. And if the sports books actually end up pulling. Out. Obviously FanDuel DraftKings and Bendit, MGM are pretty much the biggest players in the state and in the city. It would really be interesting to see how that affects the other sports books as well, and how it impacts other cities potentially weighing this as well, because again, Chicago's the only place to really propose this. So it would be kind of major news for every other city in America that's considering a similar tax. And, uh, you know, when you talk about the offshore sports books and the prediction markets, which we'll get into in a bit, it really would just be a huge, huge change for sports books.

Chicago May Impose Extra Taxes on Local Sportsbooks

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