Circa Sportsbook Approved In Illinois, Here’s When We Expect It To Launch

Circa Sportsbook is on track to become the eighth legal online sportsbook in Illinois, as it has been granted approval for its license by the Illinois Gaming Board.

Jeff Benson, the director of operations at Circa, communicated with Play Illinois via email.

We aim to open our physical and online stores later this year, with a tentative launch date set for August.

The American Place Casino in Waukegan, owned by Full House Resorts, has partnered with Circa and The Temporary. The casino opened its doors on February 17th.

During the standard board meeting of IGB, Circa officially became a “licensee” instead of an “applicant.” Despite this change, it will still be a few months before Circa is authorized to open.

Derek Stevens, the CEO of Circa, told Play Illinois in January that Circa was ready to launch when The Temporary started operating. However, the IGB has prohibited this action.

According to Stevens, the casino must open first, with a certain amount of time passing before the introduction of a sportsbook. In Illinois, a sportsbook must always open after the casino.

How Circa plans to compete with established Illinois sportsbooks

Circa, which was founded four years ago, now operates sportsbooks in Nevada, Colorado, and Iowa.

Currently, the Illinois sports betting market is overseen by seven sportsbooks, with the majority of control held by three main operators: FanDuel, DraftKings, and BetRivers. A recent analysis by Play Illinois revealed that these three operators account for more than 75% of the market share.

Stevens said that he is unconcerned about the number of competitors.

Stevens mentioned that there are 30 competitors in Colorado, a significant number in Iowa, and a large amount in Nevada.

I believe that the sports betting industry is still in its infancy and has plenty of room for growth. Each sportsbook offers a unique experience, catering to different types of customers. There is a lot of potential for expansion in the market, especially in states like Illinois where the market has shown strength. We are excited to establish our presence and contribute to the growth in Illinois.

Stevens announced that Circa, his sportsbook launched in Las Vegas in 2019, will offer a distinct advantage to attract high rollers when it expands to Illinois. In particular, Circa promises to maintain a lower percentage and accommodate significant wagers.

Stevens stated that while the player count may vary slightly, he believes that a low-hold model accepting larger bets could be a suitable option for certain customers.

I am confident that there will be significant interest in exploring various betting lines, especially with Circa Sports. As individuals discover our future bets, they will quickly understand the benefits of our low-hold model. This will be a key focus for us in Illinois.

Circa sees opportunity in Illinois sports betting sector

Gambling on sports is a significant sector in Illinois.

Illinois surpassed $20 billion in total sports betting handle in February, securing the third spot in the US rankings behind only New Jersey and Nevada. The Land of Lincoln now holds the top spot for lifetime sports betting handle.

In February, Illinois recorded a handle of $875.4 million, ranking as the second highest in the United States. It was surpassed only by New York, which generated $1.47 billion, and outperformed New Jersey with $847.4 million, Nevada with $659.4 million, and Ohio with $639.8 million.

Illinois had a successful four-month streak before February, with each month surpassing $1 billion in handle. This accomplishment placed Illinois as the fourth state, following New York, New Jersey, and Nevada, to achieve a billion-dollar handle for four consecutive months.

Stevens confidently stated, “It is undeniable that Illinois is a key player in the sports market. The state’s passion for its many teams, combined with the regulatory environment, population base, and prevalence of sports fans in the Midwest, all come together perfectly here.”

Stevens described the launch in Illinois as a situation where “all the pieces came together perfectly for us.”

He stated that they believed the regulatory environment in Illinois was a good fit for their business model. After successfully negotiating a deal with Full House Resorts, they were excited to establish a new build in Northern Illinois, which aligned perfectly with their plans.

Circa has big plans for permanent sportsbook in Waukegan

Stevens announced that the Circa sportsbook will be located in The Temporary casino for two to three years during the construction of the permanent casino. He highlighted Circa’s excitement about contributing to the design of the retail sportsbook.

Circa has multiple high-end sportsbooks, with Stadium Swim in Vegas being the most famous. The venue boasts six large swimming pools and a 40-foot tall HD screen, offering a one-of-a-kind setting for watching and betting on sports.

Illinois will not have an outdoor swim-up sportsbook for obvious reasons.