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Ryan Butler of Covers.com released the minimum fees per bet as well as minimum wagers that have been proposed by each regulated gambling site in the state of Illinois. These are in response to the state's new tax increase that have jumped to as high as 40 percent.
Some on social media have suggested these fees will drive sports bettors back to offshore sportsbooks and local bookmakers.
He tweeted out the following Wednesday:
bet365: TBD
BetMGM: $2.50
minimum BetRivers: $1 min
Circa: $10 min
Caesars: $0.25 fee
DraftKings: $0.50 fee
ESPN BET: $1 min
Fanatics: $0.25 fee
FanDuel: $0.50 fee
Hard Rock: $2 min
Butler notes that the minimum bet at bet365 in Illinois remains $0.10, according to its posted House Rules (as of 8/26); it is the only one of the state's 10 regulated sportsbooks not to announce a minimum bet amount greater than $1 or a surcharge on each wager placed.
Beginning September 1, Caesars will implement their 25-cent fee on every online wager placed in the state.
The impact of these fees is greater than what some gamblers may realize.
MLB, CFB, and NFL betting enthusiast Jimmy Newbs on X suggested this change means a -140 line now becomes -165.
Sportsbooks like Circa have instead opted for an increased minimum bet of $10 as a means of offsetting the tax increase. Circa is a "low-hold, high-volume" operator that caters to serious bettors. The minimum will go into effect on September 1.
The Illinois tax on operators will be as follows:
- $0–$30 million in adjusted gross revenue: 20% tax
- $30–$50 million: 25% tax
- $50–$100 million: 30% tax
- $100–$200 million: 35% tax
- Over $200 million: 40% tax
- Gilbert Horowitz, Gambling911.com
