Overview

• The tax charges 25 cents per online wager for the first 20 million bets and 50 cents on each additional wager starting July 1.
• Illinois officials anticipate annual revenue of over $36 million from the per-bet levy.
• Shares of DraftKings fell more than 7% and FanDuel parent Flutter Entertainment also declined following the legislature’s vote.
• The Sports Betting Alliance labeled the tax a “crippling” measure and plans to challenge the provision.
• Analysts warn the rate will rank among the nation’s highest and could influence other states to adopt similar levies.