Illinois Sports Betting Handle Dips In May, But Still A Comfortable No. 2 In US
Illinois sports betting handle saw a decrease in May, with the state recording $507.3 million in bets for the month.
The decrease of approximately $30 million from the April report is consistent with trends seen in some states, but the handle in the US was slightly higher in May overall. This may indicate that Illinois is feeling the effects of in-person sports betting registration.
However, Illinois was one of only two states to achieve a sports betting handle of over $500 million in May. As a result, for the second month in a row, the Land of Lincoln ranked second only to New Jersey.
Nevada placed third in highest handle with a total of $477.6 million, while Illinois, in second place, has a slight lead of approximately $30 million.
Just like Illinois, Nevada also provides the option for in-person membership. However, the financial sportsbooks in Nevada are better equipped for in-person sign-ups due to their location.
Sports betting operators in Illinois brought in $36.6 million in revenue, leading to a $5.43 million increase in the state’s tax revenue.
Even during a slow season for sports betting, one casino managed to quickly achieve its most profitable month on record.
Illinois may manage casino income.
Here is a breakdown of how each sportsbook in Illinois performed and generated profits in May:
| Licensee | Product on the internet | Complete Manage | Handle Online | a wholesale handler | Profit overall | Express levy | Nearby Excise Tax |
|---|---|---|---|---|---|---|---|
| King of the Casino | DraftKings | $170,109,570 | $166,227,839 | $3,881,731 | $7,210,758 | $1,065,214 | $71,669 |
| Park Fairmount | FanDuel | $156,267,145 | $155,574,427 | $692,718 | $20,168,670 | $2,888,467 | $239,888 |
| Rivers | BetRivers | $89,002,282 | $76,722,864 | $12,279,418 | $5,240,504 | $778,553 | $66,934 |
| Aurora Hollywood | Barstool | $39,649,164 | $38,201,803 | $1,447,361 | $1,472,823 | $251,825 | $16,320 |
| Hawthorne | PointsBet | $38,967,969 | $37,401,188 | $1,566,781 | $2,321,923 | $365,593 | $24,271 |
| Victoria the Great | Hill, William | $9,114,351 | $8,374,915 | $739,436 | -$128,245 | $9,366 | $588 |
| Argosy | N/A | $2,672,277 | $0 | $2,672,277 | $338,081 | $52,094 | $0 |
| Joliet from Hollywood | N/A | $1,169,653 | $0 | $1,169,653 | $167,282 | $23,080 | $0 |
| Par-A-Dice | FanDuel | $327,350 | $0 | $327,350 | -$236,850 | $458 | $0 |
| Total | $507,279,761 | $482,503,036 | $24,776,725 | $36,554,946 | $5,434,650 | $419,670 |
FanDuel surpassed DraftKings as the top sports betting handle in Illinois in April, but DraftKings regained the lead in May.
Even so, FanDuel in Illinois has been able to surpass all other state operators in profit for the month of April by a considerable margin. As a result, it is likely not too worried about losing its position as the top betting handle. FanDuel consistently outperforms all other sportsbooks in Illinois in terms of revenue, and it achieved its highest monthly performance ever during what is typically considered the off-season for sports betting.
In April, Barstool solidified its position as the fourth top sportsbook in Illinois, reporting approximately $10 million more in handle than PointsBet for the month.
PointsBet experienced a 5.6% decrease in handle in May, while Barstool saw a 23% drop.
The scheduling of in-person registration had a greater impact on Barstool compared to other operators. This is mainly due to the fact that Barstool had only about three weeks to register users remotely, whereas other online sportsbooks had several months.
The May data shows a decrease in interest in Barstool compared to previous months. This may be attributed to the novelty factor wearing off or users experiencing a series of losses after the initial launch.
You Illinois sportsbooks continue to use the No. second place in the US?
Illinois impressed by surpassing Nevada by about $30 million in May. With this success and the state’s strong commitment to baseball betting, Illinois is projected to stay ahead throughout the summer.
During May, baseball ranked as the second most popular sport for betting in Illinois, just behind basketball. Residents of Illinois placed bets totaling $126.1 million on baseball, which is often referred to as America’s Pastime. The strong showings from both the Cubs and the White Sox likely played a role in the increased betting activity in Chicago.
If Illinois continues to only allow in-person registration, it may see a decrease in its state rankings by the fall. Many customers tend to register with sportsbooks during the soccer season, and Illinois’s lack of online registration could put them at a disadvantage.
Therefore, states like Pennsylvania and Nevada have the potential to exceed Illinois.
It is anticipated that Illinois (IL) will experience growth if online subscriptions rebound in 2022. The Illinois sports betting market is expected to remain stable in the near future.
Papers that are related
