Betway Reportedly Backs from Illinois Online-Only Betting License

This summer, Betway confirmed its plans to grow within the regulated betting sector in Illinois, one of the most lucrative US markets. At the time, the company revealed its intentions for an online-only sports betting license in the state. That license would have expanded the company’s footprint after it had already established casino operations in markets such as New Jersey and Pennsylvania. While Betway’s application was greenlighted, making the company one of three betting operators eligible for an online-only betting license, the tables have now turned.

As announced by Sports Handle, Betway has taken a turn, deciding to withdraw from the market in Illinois. The announcement came Thursday after Marcus Fruchter, an administrator for the gambling regulator in the state, the Illinois Gaming Board, confirmed that Betway requested permission to withdraw its application for an online-only sports betting license. After the Board granted this permission, the betting and gaming company was effectively allowed to exit the licensing process for an online-only permit in the state.

Considering the withdrawal, Illinois is now left with no submissions for the three online-only licenses that are up for grabs. The recent report did not confirm the reason behind Betway’s license application decision. Yet, this is not the first operator to take a similar decision. Last year in October, Tekkorp Digital an operator that is doing business as Caliente Interactive was another company that decided to back off from the online-only license in The Prairie State.

Second Withdrawal for Betway

While Betway has established its online casino in New Jersey and Pennsylvania, the company also operates its sportsbook in the aforementioned states. Moreover, the company has established the presence of its sportsbook in other states such as Ohio, Colorado and Iowa, among others.

Although the gambling regulator did not point out a reason for Betway’s withdrawal, the higher-than-usual license fee might be why the company selected not to pursue further expansion in Illinois. The state’s three online-only sports betting licenses are subject to a $20 million license fee. In contrast, retail licensed betting operators pay only $10 million. The renewal fee for both online and retail sports betting operators is $1 million, applicable every four years.

In 2021, Betway once again considered entering the betting vertical in Illinois. Back then, the company considered engaging in the bidding process for a license. However, Betway again backed off unexpectedly. This otherwise means that the latest decision marks the second time Betway has changed its mind about Illinois.