Illinois state gambling regulators "expect to release license applications for potential sports betting operators next month, marking the first major step toward launching the industry" in the state since it was legalized over the summer, according to Mitchell Armentrout of the CHICAGO SUN-TIMES. It is "not clear how long it will take the Gaming Board to process applications and issue sports wagering licenses, which will cost" up to $10M each and, for the first 18 months of the industry's rollout, are "limited to casinos, horse racetracks and large sports arenas." After that 18-month "'penalty box' period, online-only betting sites such as FanDuel and DraftKings will be able to apply for licenses at a whopping" $20M apiece. But the Gaming Board "still hasn't said when that could happen," as it "depends on how many entities apply for the licenses." Sponsors of the sports betting law initially estimated the industry "could launch" in time for the start of the '20-21 NFL season in September, but a rollout in time for the Super Bowl in February "might still be too optimistic" (CHICAGO SUN-TIMES, 11/8).
