Why Caesars And Barstool Have So Much To Gain Once In-Person Registration Goes Away

All Illinois sportsbooks stand to benefit when online registration resumes on March 5, but some operators might gain more based on the current environment. Today, we’re focusing specifically on two: Caesars by William Hill and Barstool.

It’s been roughly 11 months since online registration for Illinois sports betting sites was available.

Naturally, most sports bettors gained advantage from the approximately seven-month online enrollment period in 2020 and 2021. Consequently, Illinois secured the third-highest betting amount in the US in 2021, surpassing $7 billion.

Illinois Caesars have untapped possible

Review the revenue numbers for sports betting in Illinois and you’ll find Caesars at the bottom of every major metric among online brands. Meanwhile, Barstool and PointsBet usually compete for the fourth position out of the six operators.

These are the statistics for December 2021:

Licensee	Product on the internet	Complete Solve	Manage Internet	Shop Manage	Overall Income	Express Revenue	Local Income Taxes
King of the Casino	DraftKings	$294,985,404	$290,351,200	$4,634,204	$7,458,441	$957,719	$78,212
Park Fairmount	FanDuel	$232,243,488	$230,561,954	$1,681,534	$13,860,860	$1,939,242	$133,627
Des Plaines Rivers	BetRivers	$133,364,051	$116,567,365	$16,796,686	$7,637,398	$1,042,525	$95,757
Aurora in Hollywood	Barstool	$56,136,844	$53,495,432	$2,641,412	$2,327,826	$353,447	$24,488
Hawthorne	PointsBet	$50,828,320	$48,199,016	$2,629,304	$4,300,556	$607,004	$51,750
Queen Victoria	Caesars	$15,464,408	$13,689,285	$1,775,123	$657,828	$103,859	$0
Argosy	N/A	$4,585,414	$0	$4,585,414	$266,493	$29,907	$0
Hollywood diva	N/A	$1,359,485	$0	$1,359,485	$92,296	$8,623	$0
Par-A-Dice	FanDuel	$632,934	$0	$632,934	$75,510	$10,468	$36
Total		$789,600,348	$752,864,252	$36,736,096	$36,677,208	$5,052,794	$383,870

At the time, Caesars was simply known as William Hill when it made its debut in Illinois in September 2020. The company’s advertising was notably minimal and it offered few promotions.

Flux, the company, had a significant part in that. Caesars has ramped up its expenditure elsewhere, since Illinois has implemented in-person registration for around a year. However, they have not fully committed to investing in the Land of Lincoln.

For instance, consider New York where sports betting has now been legalized. Caesars is providing very generous sign-up bonuses here. Meanwhile, in Illinois, anticipate a surge in JB Smooveads as Caesars is intensifying its national marketing campaign.

While Caesars in Illinois may not currently rival DraftKings and FanDuel, it would be surprising if by the 2022 football season, it still struggles to surpass $20 million in monthly handle as it does now.

Everything to do with Barstool schedule

The case with Barstool is clear: it didn’t have ample time to register online users in Illinois.

To be precise, Barstool was launched in Illinois in mid-March and within three months, by the start of April, we had acquired another in-person member.

Taking that account into consideration, the figures for Barstool in Illinois are quite striking. Chicago stands out as one of the key markets for Barstool, to the extent that they even established a Barstool sports bar in River North.

Don’t expect Barstool to rival FanDuel and DraftKings in Illinois once more. However, it might contend with BetRivers for the third position in market share.

The sports gambling industry in Illinois is distinctive.

Illinois’ sports betting statistics on a monthly basis are nearly similar to those of Pennsylvania. However, Pennsylvania surpasses Illinois with 13 online casinos compared to Illinois’ six.

The unusual situation of having so few sportsbooks for such a large market is due to the peculiarities caused by COVID-19, as well as certain policy oddities.

BetMGM Sportsbook is set to be the seventh online betting provider to launch in Illinois, expected to be operational in time for March Madness betting. Furthermore, three unidentified online-only license applicants are yet to receive approval, their launch dates still uncertain.

In simpler terms, DraftKings and FanDuel’s monopolistic hold with a combined market share of 67% in IL in 2021, is an anomaly. It leaves ample room for other operators to gain substantial ground. This is unlike most states where sports betting is thriving.

The sporting gaming industry in Illinois will ultimately revert back to its normal state, with March 5 serving as a crucial turning point.