Betway is abandoning its ambitions for the Land of Lincoln, at least for the time being.
Illinois Gaming Board Administrator Marcus Fruchter said Thursday during the legal sports betting regulator’s monthly meeting that a company connected to Betway asked and received permission to withdraw their application for a standalone mobile wagering license.
The 2019 bill passed by Prairie State lawmakers authorizing Illinois sports betting created a “tethered” license connected to the state’s brick-and-mortar gaming properties. The same legislation also allowed for three online-only permits that could be awarded through a competitive bidding process.
That process failed to turn up any bidders in 2021 and 2022, and the IGB opened a supplemental bidding window that closed earlier this year and drew interest from Betway.
Same ol', same ol'
However, Thursday’s news keeps the status quo for online sports betting sites in Illinois intact. There are eight mobile bookmakers in the state, including Circa Sports, the most recent entrant.
Illinois is one of the biggest wagering markets in the U.S., but there is a relatively high cost to access it, including a $20-million initial licensing fee for online-only sportsbooks. And, while the reason wasn’t specified on Thursday, Betway apparently decided to take a pass.
“That's all that we have to say about that at this time,” Fruchter said during Thursday’s meeting. “But that process unfortunately comes to an end with no license to be issued at this time.”
