Where Will bet365 Fit Into the Illinois Sports Betting Market?

A new sports betting operator will soon launch in the Land of Lincoln.

bet365 Sportsbook has announced that it will soon go live in Illinois. The operator has been awarded a license but has yet to launch its platform in the state. Illinois will become the twelfth state that the sportsbook is live in as bet365 continues its slow expansion across the US.

While no official launch date has been shared, it will likely happen ahead of March Madness. Selection Sunday will occur on March 16, so the sportsbook will likely be live by then.

The operator is also preparing to launch in Tennessee. The new markets continue a careful strategy for bet365 Sportsbook's expansion in the US. Its approach has been successful, as the sportsbook has carved out a part of the market among second-tier operators. 

Massive Win for Illinois

Illinois was one of the few states to raise its tax rate successfully in 2024. The state initially eyed a massive hike but instead decided to go with a tiered system. This system assesses a tax rate based on each sportsbook's revenue, meaning operators like FanDuel will pay far more than BetRivers. 

The unique tiered tax system helped the state break the opposition from the industry, luring smaller operators over with the promise of lower taxes and a competitive edge. When the new system became official, DraftKings and FanDuel threatened to offer fewer promotions and watered-down odds to offset higher taxes. They warned officials that this would hurt the market and deter other operators from joining, but bet365 is proving that to be wrong.

bet365 Sportsbook’s launch could also expose the strategy of the two industry leaders in Illinois. Aggressive bonuses and promotions will allow the operator to win over customers and could force FanDuel and DraftKings to become more competitive. 

Regardless of how bet365 performs in Illinois, they have shown that a sports betting market can expand after raising tax rates.