Casinos

Illinois sports betting bill paves way for leagues to cash in

Stadium with two dice in the middle
Illustration: Aïda Amer/Axios

Illinois passed a sports betting bill over the weekend that includes mobile betting, in-venue kiosks and, most notably, a mandate that operators use official league data for in-play and prop bets.

Details: Casinos, racetracks and other brick-and-mortar venues can offer mobile betting right away, while online-only operators like DraftKings and FanDuel must wait 18 months before entering the market. Large venues like Soldier Field and Wrigley Field would be able to apply for licenses to add on-site betting kiosks.

Media companies' newest wager: Their commitment to sports betting

Illustration: Aïda Amer/Axios

The legalization of sports betting has opened up new business opportunities for some of America's biggest media companies, forcing them to decide just how far they want to wade into the world of sports books.

Why it matters: Striking the right balance between leaning into betting — and not alienating casual fans or compromising journalistic principles — will force the establishment of new media boundaries.