-- Connecting the dots between our economy, government and business --
All operators would have to pay $1 million to renew licenses every four years. After that, Illinois will take a 15% tax on all sports-betting revenue. That’s jacked up to 17% in Cook County, with the extra two points supporting the county’s criminal justice system.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Audio and summary
I’m sure the woke will throw in a $15 per hour, healthcare and mandatory union and residency requirements onto the investors too!
Articale confirms how wildly over optimistic illinois pol think they’ll bring in a year–$60 million & $240 mill from initial licensing?? When new New Jersey has only brought in $13 mill so far this year..or maybe ill pols dont care, they can just throw out some phoney estimate of projected revenue and the let the bond issuance/spending palloza begin!!!
Cook County needs an extra 2% to prop up their criminal justice system? So legalized sports gambling increases the cost of law enforcement? If that’s the case, shouldn’t every county judicial system be reimbursed 2% by the state? Leave it to Cook County to never pass up an opportunity to add a surcharge to the state’s surcharge. What a joke.
Not that I’d ever think that readers here might be familiar with the commonly used, illegal betting sites, but isn’t the vig typically 10%? With those kinds of taxes going to the state, can the state be competitive? Is anybody going to switch to the new, legal places? If anybody knows, help me out on that.
Money grows on trees, didn’t you know? If you tax it, the revenue will come!