State law should allow betting on sports events
The sky is falling in Elgin.
City leaders, already feeling the pinch from fewer sales taxes, are worried their share of the profits from the Grand Victoria Casino will shrink.
Some blame the dip on the smoking ban. Others cite the sagging economy.
And officials fear it only will get worse two years from now when the new casino opens in Des Plaines.
What to do?
The powers-that-be should change the state laws to allow betting on sports events and games at Illinois casinos.
Plain and simple: give them the option of having Vegas-style sports books. I'd bet that more people would be willing to put down $50 on, say a Chicago Bears game, locally if they could collect right away. I know I would.
It won't totally solve the problem, but it would help.
The Illinois Gaming Board says it cannot change the laws to allow betting on sports - only state lawmakers can.
Keith Farnham, the newly elected state representative for the Elgin area, said he hasn't given the issue much thought, but said he would look into it.
Mike Noland, a state senator from Elgin, could not be reached for comment. A casino spokeswoman said "we're not commenting on that particular issue."
Now, I'm not advocating point spreads on high school games between the Elgin Maroons and Larkin Royals.
Casinos have adapted to the whole poker craze anyway. I don't see how this is dramatically different from horse tracks and off-track betting parlors. And no animals would get hurt.
Casinos here, like their Vegas counterparts, automatically keep a percentage of whatever is wagered - win or lose. So that's more money for casinos right there. Plus, I'm sure lawmakers will put their own tax on any bet placed.
The change will keep money in our state's economy. Think about how many people have bookies in Vegas or subscribe to Internet gambling sites. When they lose, their money leaves our state. Well, we'll keep our cash here in Illinois.
And, let's say you do win here, at the Grand Victoria Casino for example. If I win on my Bears game and collect in Elgin, perhaps I would spend my money in downtown Elgin. It's right there. Or use it to play some games in the casino itself. Or hit the buffet.
The casinos would have to physically build a sports book area. That means more money spent on plasma TVs, construction and even building permits in the town where the casino is located.
Politicians on both sides of the aisle should love this idea.
Democrats, who supposedly want to empower the little guy, can give the people a venue to bet on something they're knowledgeable about and ultimately supplement their incomes. Sounds like a good stimulus package to me.
And Republicans, who supposedly are out to shaft the little guy to benefit "the man," would be giving the casino owners a means to increase their revenues in these tough economic times.
Some knee-jerk politicians will scream this is a bad gamble. I'd argue the legislature has been playing roulette with our state's future for years.
This is a bet with low risk, high reward. And worth making now.