Georges laughed when asked if the proposed 2% tax was a “bone the mayor is throwing” to Bluhm, whose family has close ties to Lightfoot. … When you look at sportsbooks across the country, those with the highest taxes generate the least amount of revenue.” And, at some point, it’s a point of diminishing returns where, the higher the tax, the less revenue raised.
This tax will push people to the suburbs to do their sports betting as opposed to the city. , more than 86% of people do their sports betting online. “The higher you make the tax, the more likely you are to push people online to do their sports betting. “Imposing an additional tax on sportsbooks creates an unlevel playing field between the city and the sportsbook in the suburbs, which is the Des Plaines sportsbook,” Georges said.
