IL HB5092

Professional sports teams may apply for a master sports wagering license if the public entity owning their home facility does not apply and provides written authorization.

A professional sports team granted a license must operate through a designee and is deemed a sports facility for purposes of the Sports Wagering Act.

Initial license fee for a professional sports team is $1,000,000, adjusted 12 months after operations begin based on 5% of the handle from the first 12 months of sportsbook operations.

Master sports wagering licenses for professional sports teams are valid for 4 years.

The Illinois Gaming Board is authorized to adopt rules necessary to implement these provisions.