Illinois Gov. JB Pritzker signed the state’s $53.1 billion budget package for Fiscal Year 2025 into law Wednesday, ushering in a fundamental change to sports betting tax rates in one of the largest marketplaces in the United States starting July 1.
HB 4951 passed during an all-night legislative session one week ago, with the House of Representatives voting in favor of concurrence for five Senate amendments after the bill passed in the upper chamber. The bill itself is part of the budget package but has yet to be transmitted to Springfield for his signature.
Pritzker’s original budget ask in February proposed more than doubling the tax rate from the current 15% to 35% as a means of raising an estimated $200 million in revenue, but the progressive tax that passed in the bill gained momentum during the Memorial Day holiday weekend after being introduced May 25.
