Sportsbook BetRivers makes its move in response to Illinois' tax demands on gambling operations
In the dynamic world of sports betting, BetRivers, a leading sports betting company, has made a significant move in Illinois. The company has introduced a new minimum bet requirement, setting the bar at $1 for all bets placed within the state.
This decision comes in response to Illinois' introduction of a new per-bet tax, effective from July 1, 2025. Under this tax regime, sportsbooks are charged 25 cents per bet on the first 20 million bets each year, rising to 50 cents thereafter.
Michael Savio, a Denver-based writer who covers the sports betting industry for Casino.com, explains the rationale behind BetRivers' strategy. By instituting a minimum wager amount, BetRivers aims to maintain profitability despite this tax by reducing the financial impact of small, low-value bets that would otherwise be taxed heavily relative to their stake size.
This approach is similar to what other Illinois sportsbooks like BetMGM have done, setting higher minimum bets to offset per-bet taxes. The per-bet tax disproportionately affects small bets, which are common among casual bettors in Illinois, so setting a minimum bet reduces the number of small, less profitable wagers and helps sportsbooks manage the increased taxation costs.
When he's not immersed in the industry, Michael Savio enjoys exploring Colorado and, interestingly, placing his own sports bets. His focus on providing accurate and easy-to-understand information for readers ensures that even the most casual bettors can navigate the changing landscape of sports betting in Illinois.
In summary, BetRivers' $1 minimum bet requirement is a strategic move to adapt to Illinois' new per-bet tax. By limiting low-value wagers that would erode sportsbook margins under the tax regime, the company can remain financially viable while continuing to operate in a taxed and competitive market.
In response to Illinois' new per-bet tax, BetRivers, a leading sports betting company, aims to maintain profitability by instituting a minimum wager amount of $1 for all bets within the state, similar to what other sportsbooks like BetMGM have done. By reducing the number of small, less profitable wagers, the company can manage increased taxation costs while adapting to the changing landscape of sports betting in Illinois.
