Once again, the villainous sportsbooks have found another way to cheat their loyal customers. Illinois residents, this applies specifically to you.
As the title reads, beginning this September, FanDuel will be charging a transaction fee on every bet placed on its sportsbook in the state of Illinois. Yes, it’s only going to be a 50-cent fee, but you’ll have to pay that extra tax on every single bet you place with them. This is in response to the recent tax increase on sportsbooks in the state of Illinois.
If you’ve read that opening paragraph and are already thinking about jumping ship, head on over to our list of the best online sportsbooks, none of which charge any sort of transaction fee (besides typical juice). My personal favorite is BetOnline.
FanDuel Transaction Fee Beginning This September in Illinois
FanDuel announced a transaction fee for every bet placed in the state of Illinois
Now, who exactly does this impact? Anyone that bets with FanDuel in the state of Illinois. Whether you live there, or just drive across the border to place your bets (Missouri and Wisconsin residents), you’ll be forced to pay this 50 cent transaction fee. It might not seem like a lot, especially to professional bettors and whales in the industry, but it disproportionately impacts low unit, recreational bettors.
Those betting $500 to $1,000 per bet don’t think twice about an extra 50 cents, but that guy who is betting five bucks just to have some skin in the game now pays and extra 10% on each transaction. For someone who makes two $5 bets every single day, they are now paying an extra $365 in transaction fees, which adds up for those who don’t bet that much.
This is going to turn these lower-unit bettors towards parlays to avoid multiple transaction fees, thus pushing them towards wagers with a much smaller chance of hitting, and a much larger margin of victory for FanDuel. Borderline criminal.
And don’t worry, Peter Jackson, CEO of Flutter (FanDuel’s parent company), admits they know exactly what is going to happen. He is quoted saying, “We are disappointed that the Illinois Transaction Fee will disproportionately impact lower wagering recreational customers.” Well, duh. Your lower wagering customers are now paying an extra double-digit percentage fee per each bet.
Where Should You Bet Instead?
BetOnline offers extremely competitive odds in a wide variety of markets
Short answer, anywhere that doesn’t charge you some BS transaction fee.
Longer answer, pick your favorite of any of these books listed below. Personally, I prefer BetOnline. Obviously there is no transaction fee per wager, plus they continuously have the best odds compared to the rest of the market.
There is a wide variety of wagers to choose from as well, plus you can get a nice sign up bonus! Use Promo Code FREE250 for a 50% deposit bonus up to $250 as well as 100 Free Spins at the Online Casino!
If you’ve already got an account at BetOnline, be sure to check out any of these online sportsbooks listed below. All are trusted by the analysts here at Betting News, and we also offer reviews for each sportsbook you can check out as well!
Not only does BetOnline offer plenty of competitive lines, but they also have a racebook for horses, online and live casino, poker, Esports, and host tons of weekly contests with chances to win free funds in your account. The best part: BetOnline works wherever you are! It is live in all 50 states, Canada, and even works when you may be traveling elsewhere.
What are you waiting for? Ditch the nonsense transaction fees and sign up for one of these free online sportsbooks today!
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