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Illinois is just another state in the US that has a huge deficit to deal with. The state has a high unemployment rate, faltering housing values, and a dismal economy. Much like most states post-recession, Illinois is trying to figure out how to fix their huge budgetary shortfalls.  States nationwide are looking to gambling as a cure-all, hoping it will bring in the necessary funds to shore up state coffers. Most industry insiders are predicting that the economy won’t be visibly improving until mid-2010. With numbers like this it’s no wonder why Illinois legislators were trying to get video slot gambling approved as quickly as possible. Unfortunately, there seems to be a hold up.

New signs are showing that it should be at least another year before the state is able to legalize video gambling machines in bars, restaurants and truck stops. The delay is coupled by further information that has industry analysts saying that the number of communities opting out of using gambling as state funding is not large enough to make a serious dent in the financial projections. So far the state is hoping to bring in between $288 and $534 million by installing video gambling in various locations throughout its borders. Senior analyst Eric Noggle said that the communities that are opting out of the funding are only up to about 10% of the overall state populace. Although it may move closer to 20% by next year, there is still a huge amount of funding to create with legalizing gambling. The numbers will have to be amended if that number nears 20%, but the millions are still there.

So far Illinois is joining the US in debates over legalizing and regulating gambling and then using the funds to bring in money to the economy.  Though it looks like a great option, critics warn that no state should think of gambling as a “sure-fire” hit and base funding on its revenues.  Like anything else, the gambling industry ebbs and flows. It may provide millions of dollars one year and provide only a sliver the next. Noggle added, “The economy is always moving up and down, and that includes every industry. You never know how people will be spending in three, five or ten years from now.”