Betway is the only sportsbook operator in race for Illinois’ online gaming license
Betway, an online gambling company founded in 2006, is the only sportsbook operator in the race for one of three available licenses in Illinois, a state in the midwestern United States. Seven online sportsbook operators, including DraftKings and FanDuel, are already present in Illinois. The number is going to swell as the state’s gaming regulators are offering three more online gambling licenses. Now, the Illinois Gaming Board (IGB) has revealed that Betway is the only contender for a sportsbook license. The state gaming watchdog received Betway’s application on the recently passed Thursday.
However, the state gaming watchdog didn’t reveal the identity of the two applicants that have withdrew their submitted bids. One of the two withdrew its application earlier this month.
The online-only gambling license, it is awarded to Betway, would allow the operator to operate in the Prairie State without any need to partner with any brick-&-mortar racetracks or casinos.
It is worth noting here that this is the second time when the IGB has sought to distribute the three online-only gambling licenses. Previously, a bidding process was launched in August 2021. At the time, a total of three companies had applied for the licenses, but two of them eventually rolled back their candidacies and the third was disqualified by the regulators.
Even this time, the licenses are being offered with a hefty fee of $20 million each. Some experts are of the view that the hefty license fee is preventing many potential bidders from jumping into the race.
Betway was among the two companies that previously withdrew its candidacy without giving any explanation. It remains unclear what caused it to change its mind and apply again this time. The application has been filed by DGC IL LLC, which is affiliated with Digital Gaming Corporation – a recent acquisition of Betway’s parent company, called Super Group.
The Prairie State is one of the biggest sports betting markets in the entire U.S. In the month of May this year, sportsbooks generated a revenue of roughly $822 million in bets, and 97 per cent of that amount was placed in wagers online.
If IGB awards license to Betway, Illinois would become the ninth state where Super Group-owned company would operate. The company is already offering sports betting services in Arizona, Colorado, Iowa, Indiana, Ohio, Virginia, Pennsylvania and New Jersey.