Last September, Illinois imposed a $0.25 tax on the first 20 million wagers at each sportsbook. Past the first 20M, it increased to $0.50.
In response, the largest sportsbooks in the state, FanDuel and DraftKings, rolled out a flat $0.50 fee to all sportsbook customers. As a result, there were 5M fewer wagers placed from September 2025 to September 2024.
Illinois is the only jurisdiction of the 30 states having online sports betting where a special tax has been imposed. Voters are obviously voting with their feet, and placing their bets elsewhere.
Many are probably going back to their original bookies. In doing so, Illinois is losing out on all of the potential revenue from sports betting in those instances.
And wasn’t that why they legalized sports betting in the first place? By raising taxes, they shot themselves in the foot once again.
Let me leave you with this…
Between January and June 2025, 17,562 IRS employees participated in the second round of the deferred resignation program, according to the National Taxpayer Advocate’s recently released midyear report. Most if not all of those former employees are still waiting to receive their annual leave payouts and first annuity payments.
The effective date of their separations was September 30th of last year. Three and a half months later most haven’t seen one thin dime.
The IRS Employee Resource Center said in early December last year that the agency was sitting on a backlog of about 7,300 retirement applications and that the retirees should expect to wait about six to nine months before receiving their first annuity payment.
I’m sure they’ll get their payments sooner or later, but no one wants to see this happen to anyone, even former IRS employees.
I guess Karma’s a real thing.
If you’re having difficulties with your accounting and tax work, we’d love to talk to you. I’m waiting for your call.
We’re all going to get through this. Let’s get through it together.
Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Payroll Services, or Accounting and Tax Work, you have but to ask. I’m here and I remain,
Sincerely yours,
Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
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