BetRivers has raised its minimum bet in Illinois to $1 after lawmakers increased sports betting taxes. The change followed a new per-bet tax effective July 1. Illinois now charges 25 cents per wager for the first 20 million bets. After that, the per-wager rate jumps to 50 cents. This led several online sportsbooks to adjust their pricing models.
During Rush Street Interactive’s Q2 earnings call, Chief Financial Officer Kyle Sauers explained the company’s current stance:
“On Illinois, we haven’t shared plans yet on exactly what we plan to do,” said Sauers. “We’re trying to make sure we’re blending goals of a great player experience but also appropriate economics for us. What we have done to date is we’ve moved the minimum bet up to $1. That’s the move thus far, but we’re remaining flexible to figure out the right way to approach it as we get towards NFL season,” Sauers added.
This move makes BetRivers the third major sportsbook to raise its minimum in Illinois. BetMGM raised its threshold to $2.50, while Hard Rock Bet set its minimum at $2. Meanwhile, other online sportsbooks opted for different strategies. DraftKings and FanDuel introduced a 50-cent fee per bet. Fanatics imposed a 25-cent per-wager charge. Operators like Caesars, Circa, bet365, and ESPN Bet have yet to raise minimums or add fees.
RSI Records another Strong Quarter
Despite the change, Rush Street Interactive posted strong Q2 results. Revenue rose 22% year-over-year to $269.2 million. Adjusted EBITDA surged 88% to $40.2 million.
Online casinos and online sportsbooks helped fuel this growth. Online casino revenue rose 25%. Online sportsbook revenue increased 15%.
Moreover, monthly active users jumped 30%. Average revenue per user neared $400, driven by real money online casinos and sports betting engagement.
Great Alternatives that Haven’t Increased Minimum Bets
Importantly, not all platforms followed BetRivers’ lead. Online sportsbooks like BetOnline and Bovada continue to allow low-stakes wagers in Illinois.
Similarly, Lucky Bonanza Casino and Wild Casino have kept their original minimum bet levels. These real money online casinos still offer budget-friendly gaming. These platforms remain popular with casual players looking to avoid higher thresholds.
While BetRivers adjusts its strategy to rising taxes, others opt to maintain accessibility. The Illinois market continues to evolve quickly.
Players now face different betting conditions depending on their platform of choice.