This year’s NCAA basketball tournaments have translated into big money for sports betting operations around the state… and millions in tax revenue for state government.
The Illinois Gaming Board says more than $286 million was wagered on the men’s and women’s basketball tournaments. 97-percent of that total, $278 million, was from bets on the men’s tournament, mostly placed online.
After winning bets were paid, sportsbooks took in more than $14 million, and the state collected $2.1 million in tax revenue on the wagers.
