Where Illinois’ $305 Million Sports Betting Market Stands, And Where It May Be Headed
The market is far from mature, but we’re learning more and more about it with each revenue report released. So far, here’s what we know about the Illinois sports betting market, and what we may see in the future.
A dragon sportsbook with three heads
BetRivers, DraftKings and FanDuel sportsbooks accounted for about $289.7 million (95%) of the Land of Lincoln’s September handle.
A caveat: PointsBetlaunched on Sept. 12, and so didJohn Hill three days later. While neither operator was in business for the entire month, there is still a massive gulf between the third and fourth place position in Illinois.
Expect PointsBet and John Hill Sports Betting to post stronger October figures, especially the former considering its prioritization of the state. But both have plenty of ground to make up to crack the top three.
Déjà vu, anyone? Yes, we used similar language in discussing BetRivers’ domination in August. That’s when they carved out a massive 84% market share.
DraftKings and FanDuel each made up a lot of ground in September. Here are the full numbers:
|Licensee||Online Company||Handle in full||Handle Online||Shop Handle||Full income||State Revenue||Nearby levy|
|Queen Victoria||John Hill||$2,216,866||$1,331,231||$885,635||$496,215||$12,173||$95|
|Joliet from Hollywood||N/A||$1,141,444||$0||$1,141,444||$158,037||$20,160||$0|
|Aurora in Hollywood||N/A||$1,088,023||$0||$1,088,023||$145,492||$17,276||$0|
We should note that BetRivers easily posted the best revenue numbers in the state in September. That can likely be attributed to DraftKings and FanDuel’s aggressive customer acquisition strategy, frequently offering bonus bets and enhanced lines.
In contrast, BetRivers seems to have gained the majority of its clients over the summertime, when it was the only life operator in the state.
Based on DraftKings and FanDuel & rsquo, a sizable brand presence almost everywhere, and BetRivers andrquo’s significant head start, all three will be major forces in Illinois moving forward.
If DraftKings may take over BetRivers in October, that will be especially fascinating to watch. For the time being, it will be difficult for any new operator to enter the It & rsquo. the bottom three.
Illinois in relation to
Illinois is rapidly ascending in the US sports betting market. Here are the top five states in September by handle:
- $ 748.6 million for New Jersey
- $ 575.1 million in Nevada
- Pennsylvania:$ 462,8 million
- Illinois:$ 305.2 billion
- Colorado:$ 207.7 billion
The youngest business on that list is Illinois, and once it matures, it might reach Pennsylvania rates. The communities of the two says are comparable.
Illinois passed Colorado and Indiana, both of which are regarded as achievement in the sports betting industry, in just three months.
The peculiar point? If the business had developed as politicians had intended, none of this would have occurred.
All this wouldn’t have been possible if Gov. JB Pritzker hadn’t suspended the in-person registration mandate several times, as he has. And based on the way COVID-19 is trending in Illinois, he likely won’t reverse his policy any time soon.
About 93% of the September handle came online, a number similar to August and July. It’s impossible to know for sure, but one would can wonder what numbers would look like if in-person registration were still in place.
Additional Illinois tax documents
- In September, FanDuel failed to report adjusted net income. Marcus Fruchter, the administrator of the Illinois Gaming Board, asserts that if the report’s section reads”& ldquo ,”” zero ,” or” Andrdqua ,” it indicates that the operator was not profitable for the month. The following month will see an increase in the loan.
- Although BetRivers may have been the express leader in control, more people bet in September at DraftKings and FanDuel. This indicates that BetRivers recorded a higher dollar sum for each win.
- BetRivers easily had the busiest retail sportsbook of the bunch, posting $14.1 million in handle. No other retail sportsbook took in more than $3 million, which makes sense given Rivers Casino‘s proximity to Chicago.
- Despite not yet having an online sportsbook( though it will eventually be Unibet ), Argosy Casino Alton had a handle that was higher than William Hill’s.