Bill > SB2399

This bill amends the Sports Wagering Act to establish new consumer protection measures for sports betting in Illinois. Specifically, the bill imposes three key restrictions on sports wagering licensees: first, they cannot accept more than 5 deposits from an individual within a 24-hour period; second, they are prohibited from accepting deposits made using credit cards; and third, when a patron wants to deposit more than $1,000 in a 24-hour period or $10,000 in a 30-day period, the licensee must conduct an "affordability check" to ensure the deposit is financially responsible. The affordability check can be satisfied in two ways: either by verifying that the proposed deposit does not exceed 25% of the patron's monthly income, or by using a lending standard that would determine if an unsecured loan could be issued for the proposed deposit amount. These provisions aim to prevent excessive gambling and protect individuals from potentially harmful financial behavior by introducing more stringent deposit and verification requirements.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2399&GAID=18&DocTypeID=SB&SessionID=114&GA=104