For the second time in two years, Betway has been denied a sports betting license in the state of Illinois. The Illinois Gaming Board (IGB) rejected the application on July 8th, citing that Betway had failed to meet the requirements for licensure.
Betway, an international online gambling company, first applied for a sports betting license in Illinois in 2018. The IGB rejected the application due to Betway’s failure to meet the licensing requirements. Betway then reapplied for a license in 2019 but was again rejected by the IGB.
The IGB stated that Betway had failed to meet the requirements for licensure, which include a thorough background investigation and a review of the company’s financial stability. The IGB also noted that Betway had failed to provide sufficient evidence that it had the necessary resources and personnel to operate a successful sports betting business in Illinois.
The rejection of Betway’s application is a setback for the state of Illinois, which has been looking to expand its sports betting industry. Illinois has been one of the most active states in the US when it comes to legalizing sports betting. In 2019, the state passed a law allowing for both online and retail sports betting.
Despite the rejection of Betway’s application, there are still other companies interested in entering the Illinois sports betting market. DraftKings, PointsBet, and FanDuel are all expected to apply for licenses in the near future.
It remains to be seen if Betway will reapply for a license in Illinois or if it will look to enter other states with more favorable regulations. For now, the company will have to wait and see if its application is accepted in other states before it can make any moves in Illinois.