Gov. J.B. Pritzker (D) signed the FY 2025 budget into law this week, which includes a new progressive tax rate for licensed state sportsbooks.
Pritzker signed the $53.1 billion spending plan into law, much to the chagrin of Illinois sports betting operators. The state budget includes the first-ever progressive tax rate for sports betting operators in the country, which will see sportsbooks pay a rate of 20% to 40% based on adjusted gross revenues.
The progressive tax rate is expected to bring nearly $200 million more in revenues to the state.
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The new tax rate will go into effect on July 1.
As the budget moved through the legislative process last month, several sportsbook leaders decried the new progressive tax rate, whi…