DraftKings Sportsbook at Wrigley Field is shutting down onsite wagering after Illinois increased taxes on retail sports betting. The company says the higher tax structure makes continued investment in a standalone retail sportsbook in Illinois difficult to justify. The venue will remain open as a bar, with May 31 as the last day for in-person bets. Illinois raised the tax rate to 40% for large retail outlets in 2024 and added a 25-cent per-bet tax in the following year, with the per-bet tax doubling after 20 million bets annually. Chicago also added a 10.25% tax on gross sports betting receipts for wagers placed within city limits.
"DraftKings has made the decision to discontinue onsite sportsbook operations at DraftKings Sportsbook at Wrigley Field following a review of our retail presence in Illinois. The venue itself will remain open, but in-person sports betting will no longer be offered at the location. While we are proud of what we have built alongside the Chicago Cubs, we are taking a more focused approach to where we invest in the state. The cost of operating in Illinois, including its high tax structure, makes it more difficult to justify continued investment in a standalone retail sportsbook."
"Illinois raised the tax rate to 40% for large retail sports betting outlets in 2024, then added a per-bet tax of 25 cents last year. That tax doubles once a sportsbook accepts more than 20 million bets in a year. In January, Chicago added a 10.25% tax on gross sports betting receipts for wagers placed at sportsbooks within the city, which certainly didn't help."
"Just two years after opening a massive venue attached to Wrigley Field as part of a 10-year, $100 million partnership, the DraftKings Sportsbook is shutting down. Citing Illinois' increased taxes on wagering, DraftKings felt it could no longer successfully maintain that portion of the business. The venue will remain open as a bar, but the last day to place in-person bets will be May 31."
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