BetRivers Raises Illinois Minimum Bet as Tax Pressures Change Market

BetRivers has increased the minimum stake for online sports bets in Illinois to $5. This is their second change in under a year. It shows how new state and city taxes are changing betting habits across the area. The move happens as operators deal with rules that have made low-value bets more expensive to offer. This has led to big changes in how sportsbooks set up their services.

BetRivers Boosts Minimum Bet as Illinois Per-Ticket Fee Cuts Volume

Illinois brought in a fee for each ticket last summer, making operators pay $0.25 on every bet they process. The fee jumps to $0.50 for companies that handle over twenty million bets a year. This charge hits operators regardless of the bet size, so taking very small wagers now costs them a lot. Data from the industry shows that operators have paid out tens of millions of dollars since this new system started. At the same time, the state has seen a big drop in the total number of bets placed.

The impact has not been the same for all platforms. BetRivers, known for attracting lots of casual players who bet small amounts, has seen one of the biggest drops. Since the new fee started, the number of bets it has received has gone down by about a third, hitting 2.8 million bets. At first, the company raised its lowest bet to $1, but now they have pushed it up to $5 to try to make up for the set cost that comes with each bet.

Chicago Levy Deepens Strain, Forcing Illinois Sportsbooks to Adapt

Though Illinois’ per-bet fee is the main reason for the shift, Chicago has piled on another hurdle. A local tax that kicked in at the year’s start demands a 10.25% cut from sports betting profits made inside the city. Betting companies also need to get new city permits, which adds more expenses to keep working in Chicago. The new rules led several big operators, but not BetRivers, to take legal action claiming the city has gone too far. They asked for an urgent stop to these rules but dropped this request after getting their licenses. Still, they are keeping up their court fight.

Other sportsbooks in Illinois have chosen different ways to follow the rules. Circa raised its minimum bet to $10, making it the highest in the state. BetMGM set a $2.50 floor, while Hard Rock asks for at least $2. Companies like FanDuel, DraftKings, Caesars, Fanatics, and bet365 decided to keep lower minimums but charge extra fees for each bet instead. Even though people are making fewer small bets, the total amount of money bet in Illinois has gone up, and the state is getting more tax money than before.