* The governor was asked about the legal challenge to Illinois’ interchange law at an unrelated press conference…
Reporter: The Federal Office of the Comptroller of the Currency has filed a brief supporting a challenge to the state law limiting interchange fees. Does this raise any concerns that this law be voided?
Governor Pritzker: Well sure, I mean it’s not something that I’m deeply concerned about because I think the challenge to it will be adjudicated and a decision will get made.
But, as far as I’m concerned, you know, we passed a law that that I think is having a positive effect. But again, you know, when things get brought to court you never know how they’ll turn out. I think this one is one that can be defended well and will end up with the law that we have on the books being affirmed.
You can read more on that lawsuit here.
* Missouri voters will decide whether they want to legalize sports wagering on Nov 5…
Reporter: Should Metro East communities be concerned about an arms race in the event that Missouri voters approved sports betting, as far as folks going across state lines?
Pritzker: An arms race? You mean because, just the competitive environment?
Reporter: That operators might choose to go to Missouri.
Pritzker: Yeah, I don’t think so. I think that you know, first of all the folks here in Illinois are using Illinois-based apps. And companies that do business in Illinois, I think that again the companies themselves would frankly suffer if they decide to go across state lines and operate in other states.
So I actually don’t think it’ll be an enormous problem for us. And there’s betting in Indiana, just to give you an idea, I mean, so it hasn’t happened companies are not getting up and leaving, you know, as a result of the change in the tax code, we have the zero impact on the bettors themselves, right? This was all you know we put in place when we had sports betting authorized in the state of Illinois, we put in one of the lowest tax rates for sports betting operations in the country.
And although that rate has now been raised a bit, it’s not near where the top rates are in the states where we are competitive.
For example, I think we’re the third largest sports betting state in the country, right? We have the third largest number of sports bettors here, and the states that are above us and even a couple below us have sports betting tax rates on those companies at, you know, 10 and 15 and 20 percent higher than ours.
- JS Mill - Thursday, Oct 3, 24 @ 12:50 pm:
I have a strong libertarian streak in me so I was in favor of sports betting because I thought let people make up their own minds. The shear volume of commercials that I have to see everywhere all the time has changed my mind. It also tells me how much money is involved and that we should be taxing it at a much much higher rate.
- Dotnonymous x - Thursday, Oct 3, 24 @ 12:51 pm:
I’m so old…most of the rackets I encountered as a youth are now legal.
- Homebody - Thursday, Oct 3, 24 @ 1:07 pm:
==Reporter: That operators might choose to go to Missouri.==
What? What does this reporter even mean? No online sportsbook is going to close up shop in Illinois because Missouri legalized.
- TheInvisibleMan - Thursday, Oct 3, 24 @ 1:16 pm:
Pritzker is smart enough to know the Betting books all had their chance with bluffing earlier this year, and he called their bluff. They didn’t go anywhere then, and they aren’t going anywhere now or ever for that matter.
Ironically, the betting companies are very bad at bluffing.
- Rich Miller - Thursday, Oct 3, 24 @ 1:32 pm:
===are very bad at bluffing===
They do successfully bluff a lot of reporters, however.
- Larry Bowa Jr. - Thursday, Oct 3, 24 @ 1:32 pm:
“Should Metro East communities be concerned about an arms race in the event that Missouri voters approved sports betting, as far as folks going across state lines?”
What an absolutely stupid question. Just a complete waste of time and air.
- @misterjayem - Thursday, Oct 3, 24 @ 1:43 pm:
“Operators might choose to go to Missouri.”
I’ll bet they don’t.
– MrJM
- Michelle Flaherty - Thursday, Oct 3, 24 @ 1:48 pm:
I’ll bet regardless of facts or what the gov said that this reporter’s story opens with fears of a sports betting arms race that has some worried operators may leave for Missouri.
- Beep booop - Thursday, Oct 3, 24 @ 1:54 pm:
I’d take “operators will NOT leave for Missouri” at -100000 please and thanks
- Beep booop - Thursday, Oct 3, 24 @ 1:55 pm:
Oops, stole your joke MR Jayem. Apologies/great minds think alike
- Old IL Dude - Thursday, Oct 3, 24 @ 1:56 pm:
Most people can bet on their phones using an app, so unless you just wanted to do cash to avoid taxes, it wouldn’t make sense to cross the Mississippi River in order to place a wager. You’d probably spend more in gas and time than it would be worth …