SPORTS WAGER-FANTASY CONTEST

Amends the Sports Wagering Act. Allows a licensee to offer pool sports wagering to State patrons where State patrons compete against patrons located outside of the State. Allows the Illinois Gaming Board to issue master sports wagering licenses to persons to conduct sports wagering over the Internet or through a mobile application (rather than issue 3 master sports wagering licenses to online sports wagering operators for a nonrefundable license fee of $20,000,000 pursuant to an open and competitive selection process). Provides that the application fee for a master sports wagering license is $250,000 while the initial fee for a master sports wagering license issued to an online sports wagering operator is $15,000,000. Provides that a master sports wagering license is valid for 4 years and may be renewed for another 4 years by paying a $1,000,000 renewal fee. Allows the Board to regulate the conduct of fantasy contest operators under the Act. Sets forth rulemaking authority, fees, surcharges, civil penalties, and monthly taxes, Board powers, and cooperation with law enforcement investigations. Prohibits a person from offering fantasy contests in the State unless the person is licensed by the Board as a fantasy contest operator for an application fee of $50,000. Sets forth applicant requirements. Prohibits a person from participating in a fantasy contest if the person is not at least 21 years of age. Sets forth the duties of fantasy contest licensees. Provides that, beginning July 1, 2025, the State shall impose a privilege tax on the fantasy contest operator licensee's adjusted gross fantasy contest receipts based on the following rates: (1) 20% of annual adjusted gross fantasy contest receipts to and including $1,000,000; (2) 25% of annual adjusted gross fantasy contest receipts of $3,000,000 but not exceeding $5,000,000; (3) 30% of annual adjusted gross fantasy contest receipts of $5,000,000 but not exceeding $10,000,000; (4) 35% of annual adjusted gross fantasy contest receipts $10,000,000 but not exceeding $20,000,000; and (5) 40% of annual adjusted gross fantasy contest receipts in excess of $20,000,000. Makes other changes. Makes conforming changes in the Illinois Administrative Procedures Act and the Criminal Code of 2012. Effective immediately.