Where Illinois’ $305 Million Sports Betting Market Stands, And Where It May Be Headed

In September, Illinois sports wager handled a record of$ 305.2 million, moving up to third place in the US. The country’s fastest-growing sports betting market is Illinois & nbsp.

The market is still not mature, however, with every revenue report published, our understanding of it is increasing. Thus far, this is what we have learned about the sports betting market in Illinois, and what we might anticipate in the future.

A dragon sportsbook with three heads

In September, sportsbooks BetRivers, DraftKings and FanDuel were responsible for approximately $289.7 million, which constituted 95% of the total handle in the Land of Lincoln.

A word of caution: PointsBet started its operations on Sept. 12, followed by John Hill three days later. Even though neither operator was in business for the entire month, a significant gap still exists between the third and fourth place in Illinois.

Expect stronger October figures from PointsBet and John Hill Sports Betting, with the former likely to post higher numbers due to its focus on the state. However, both have a lot of work to do to break into the top three.

Does this sound familiar? Indeed, we used comparable terminology when we talked about BetRivers’ supremacy in August. It was during that time that they secured a huge 84% of the market share.

In September, DraftKings and FanDuel made significant progress. Here are the detailed figures:

Licensee	Online Company	Handle in full	Handle Online	Shop Handle	Full income	State Revenue	Nearby levy
Rivers	BetRivers	$112,719,576	$98,599,684	$14,119,892	$6,771,455	$893,757	$80,979
Queen Casino	DraftKings	$98,316,259	$95,920,730	$2,395,529	$2,045,757	$33,263	$0
Par-A-Dice	FanDuel	$78,568,310	$78,376,659	$191,651	$1,498,339	$0	$1,111
Hawthorne	PointsBet	$8,876,182	$8,853,933	$22,249	$478,710	$24,887	$128
Argosy	N/A	$2,297,279	$0	$2,297,279	$160,525	$24,077	$0
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
Total		$305,223,938	$283,082,238	$22,141,701	$11,754,530	$1,025,593	$82,312

It’s worth mentioning that BetRivers notably recorded the highest revenue figures in the state for September. This is likely due to the aggressive customer acquisition strategy employed by DraftKings and FanDuel, who often provide bonus bets and improved lines.

Conversely, BetRivers appears to have acquired the majority of its clients during the summer, when it was the sole active operator in the state.

Considering the substantial brand presence of DraftKings and FanDuel nearly everywhere, along with BetRivers’ notable head start, all three are expected to be major players in Illinois going forward.

If DraftKings is potentially acquiring BetRivers in October, it would be particularly interesting to witness. At present, it would be challenging for any new operator to penetrate the bottom three in the IT & rsquo.

Illinois in relation to

Illinois is swiftly rising in the US sports betting market. The top five states in September by handle are as follows:

$ 748.6 million for New Jersey
1. In Nevada, $575.1 million
2. Pennsylvania:$ 462,8 million
3. Illinois:$ 305.2 billion
4. Colorado:$ 207.7 billion

The business from Illinois is the youngest on that list, and it has the potential to reach the rates of Pennsylvania once it matures. The communities in these two states are similar.

Big names like Barstool, BetMGM sports betting, and Unibet are expected to join the Illinois market in the future. As it stands, there are only five online sportsbooks. These major players are likely to be part of the mix in 2021.

In just three months, Illinois surpassed both Colorado and Indiana, which are considered achievements in the sports betting industry.

The odd thing? None of this would have happened if the business had evolved as politicians had planned.

This would not have been possible if Gov. JB Pritzker had not repeatedly suspended the in-person registration requirement. Given the current COVID-19 trend in Illinois, it’s unlikely he’ll change this policy in the near future.

Approximately 93% of the September handle was online, mirroring numbers from August and July. While we can’t definitively know, it’s intriguing to ponder how the figures would appear if in-person registration was still operational.

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.
• Despite BetRivers being the apparent leader in control, DraftKings and FanDuel saw more betting activity in September. This suggests that BetRivers registered a larger dollar amount for each win.
• BetRivers was by far the most active retail sportsbook, recording a handle of $14.1 million. It’s unsurprising, considering Rivers Casino’s closeness to Chicago, that no other retail sportsbook made over $3 million.
• Although Argosy Casino Alton doesn’t currently have an online sportsbook (which will eventually be Unibet), it had a higher handle than William Hill’s.