Illinois online sports betting took a great leap forward recently with the Prairie State accepting an application from sports betting, Daily Fantasy Sports and online casino giant, DraftKings. DraftKings officially applied for a management services license for sports betting on April 28, indicating that the company is seeking a ‘back door’ loophole entry into the protected Illinois sports betting marketplace. The loophole itself is via a management services application that could allow DraftKings faster entry to Illinois.
As Illinois law states;
“The sports wagering offered over the Internet or through a mobile application shall only be offered under either the same brand as the owners licensee is operating under or a brand owned by a direct or indirect holding company that owns at least an 80% interest in that owners licensee on the effective date of this Act.”
The move is seen too be a viable solution that would allow for DraftKings to skirt around a cumbersome 18 month waiting period for an online-only sports betting platform license.