Fanatics adds surcharge on Illinois bets to offset state taxes
Fanatics Sportsbook announced Tuesday that it will charge bettors a 25-cent transaction fee on every bet, win or lose, placed with its online sportsbook in Illinois.
The company says the fee is its response to a recent tax increase in the state that will charge sportsbooks 25 cents on the first 20 million wagers it accepts online and 50 cents on each additional bet.
Last month DraftKings followed FanDuel and announced it would implement a 50-cent transaction fee as well, effective Sept. 1, on each online sports bet placed in the state.
The Illinois per-bet tax passed swiftly during a deadline weekend on May 31 and included in the state budget. The per-bet tax is awaiting Gov. JB Pritzker’s signature and is slated to go into effect July 1. It’s the second tax increase for Illinois sportsbooks in the last year. A spokesperson for the Illinois Gaming Board said they are reviewing the matter.