Sports betting

How on-site sportsbooks could transform stadiums

A graphic of a stadium with large dice rolling through the middle.
Illustration: Aïda Amer/Axios

In recent weeks, Illinois and New York have introduced bills that would allow in-person sports betting at sports stadiums and arenas — and the Chicago Cubs are considering opening a sportsbook inside and outside of Wrigley Field.

Why it matters: Sports venues are among the most underutilized pieces of real estate on Earth. NBA teams play 41 home games per year, NFL teams play just eight, and when you go to those games, it's not like they let you hang out. Here you have this immaculate structure and they're ushering you out the door.

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.