Illinoisans will wager roughly $400M during March Madness based on last year’s numbers. Sportsbooks in Illinois will also be paying a higher tax than ever before.
Illinoisans are expected to again bet big on college sports during March, driven by March Madness. Sports wagers put $1B into Illinois government accounts last year, ranking it No. 3 in the U.S.
Illinoisans bet more than $275 million on March Madness in 2022, with the state netting more than $2 million in tax revenue. Revenue totals for sports betting in 2022 were the second highest in the nation behind New York.
Illinois students could soon benefit from scholarship money to help them find a tutor, attend ACT or SAT prep sessions, pay tuition, get special education services or assist with other academic needs. That will happen in Illinois only if Gov. J.B. Pritzker lets the state’s schoolchildren benefit from the Federal Scholarship Tax Credit program, established...