SB 176

Abstract

Creates the Sports Wagering Act. Provides that sports wagering may not be offered in the State until the Illinois Gaming Board determines that federal statutes prohibiting sports wagering have been repealed or the United States Supreme Court finds those federal statutes unconstitutional. Authorizes sports wagering at a gaming facility that is authorized to conduct gambling operations under the Riverboat Gambling Act. Provides that a sports wagering operator may offer sports wagering in-person at the licensed facility and over the Internet through an interactive sports wagering platform. Provides for licensure of interactive sports wagering platforms. Requires a sports wagering operator to verify that a person placing a wager is of the legal minimum age. Requires a sports wagering operator to allow an individual to restrict himself or herself from placing wagers with the operator. Requires the Board to adopt rules concerning standards for a sports wagering operator's advertisements for sports wagering. Provides integrity requirements for a sports wagering operator. Requires a sports wagering operator to maintain all records of bets and wagers placed. Requires a sports wagering operator to submit a report to the Board annually with the number of accounts established, winnings awarded, gross wagering revenue received, and other information. Requires a sports wagering operator to pay a 12.5% tax of its gross sports wagering revenue. Provides civil penalties for a person or entity that knowingly violates provisions under the Act. Provides that all moneys collected under the Act shall be deposited into the State Gaming Fund. Makes conforming changes in the Riverboat Gambling Act and the Criminal Code of 2012.