DraftKings formalizes deal with Illinois casino; Looming online bets

After all, there won’t be an 18-month wait in Illinois for the nation’s biggest mobile sportsbook, as DraftKings announced today that it wasn’t a secret deal with the Queen Casino in East St. Louis, Illinois.

When the state legalized sports betting, state law prohibited exclusively online operators like DraftKings from entering what was called a mandatory penalty box period for 18 months.

The prospect of not launching until December 2021 is now over, thanks to DraftKings and FanDuel, who are in talks to buy Fairmount Race Track, bypassing the rule.

And given a recent marketing effort in DraftKings State, which will give new users $ 100 free just for registering an account, it looks like DK will be launching into Lincoln Country sooner rather than later. .

The original rule was supposed to allow land-based casinos like Rivers to take a leap, but it was also speculated as a penalty for both sportsbooks for its fantastic day-to-day operations within the state, which the former prosecutor said. State General, Lisa Madigan, interpreted it as illegal.

Terms of the deal, which renames the entire casino as DraftKings, weren’t disclosed, but it’s likely a pretty dime considering the state’s retail sports betting must pay a license fee of $ 20 million and that this move allows DraftKings to take bets much earlier than initially anticipated.

While an exact date is unclear, it is believed that national mobile sports betting, including DraftKings, FanDuel, PointsBet, Penn National Gaming / Barstool and William Hill, will be up and running by the end of August. As a prospect, BetRivers – which had a connection to retail from the start – launched its mobile product in late June.

[Where Is Sports Betting Legal? Tracking All 50 States]

The prospect of doing business quickly in the state is brighter now that the governor has suspended in-person registration solely due to COVID-19.

With 12.9 million people in the state enraged by sports, the nation’s fifth largest, analysts believe the state could rival Nevada, New Jersey and Pennsylvania, the three sportiest states when it comes to sports. gambling, when the retail and mobile market reaches maturity.

More from Rovell

How would you rate this article?