A new legislative proposal, HB2761, introduced by Illinois Representative Kimberly Du Buclet, aims to reshape the landscape of sports wagering in the state. The bill, unveiled on February 5, 2025, allows professional sports teams to bypass public entities in applying for master sports wagering licenses if those entities fail to do so. This significant shift could empower teams to capitalize on the lucrative sports betting market directly.

Under the proposed amendment to the Sports Wagering Act, if a public entity that owns a sports facility does not apply for a master license, a professional sports team that plays the majority of its home games at that facility can step in. The team must secure written authorization from the public entity to proceed with the application to the Illinois Gaming Board. This provision is designed to streamline the licensing process and potentially increase revenue for both the teams and the state.

The bill sets an initial license fee of $1 million, which will be adjusted after the first year based on the team's sportsbook operations. The license, valid for four years, would require the team to operate through a designated entity, ensuring compliance with regulatory standards.

Debate surrounding HB2761 has already begun, with proponents arguing that it could enhance competition and innovation in the sports betting sector. Critics, however, express concerns about the implications for public entities and the potential for reduced oversight in the gaming industry. The bill's passage could lead to a significant shift in how sports wagering is managed in Illinois, with experts suggesting it may pave the way for more teams to engage directly in betting operations.

As the legislative process unfolds, stakeholders are closely monitoring the bill's progress, anticipating its potential impact on the state's economy and the future of sports betting. If enacted, HB2761 could redefine the relationship between professional sports teams and public entities, marking a pivotal moment in Illinois' gaming landscape.