Staggering Percentage Of Illinois Sports Bets Placed Online In July, Per Revenue Report
The Illinois Gaming Board (IGB) released the report on Tuesday, the first of its kind in the state. For those screaming from the mountaintops about the importance of mobile registration, consider this validation.
Almost 93% of sports bets made in July were placed online. Legal Illinois sportsbooks produced about $51.4 million in handle in a month, mostly devoid of traditional sports.
In total, sportsbooks generated almost $60 million in handle in March, June and July. Due to the COVID-19 pandemic closing Illinois casinos, there weren’t any bets placed in April or May.
Sportsbooks only had six days of operation in March, but their handle posted close to$ 1 million.
Soccer, baseball and golf were the most popular sports to bet on in July. And, if you’ll recall, MLB didn’t start its season until July 23, when most of the month had already passed.
Statistics are a positive signal for August and above.
BetRiversIn July, Illinois had only one life mobile sportsbook. There weren’t many sporting playing at the time, as was already mentioned. Nearly all of the July control was generated by the online sportsbook.
Certainly, Gov. From July 26 through August 21, JB Pritzker reiterated the requirement for in-person membership. However, since June, persons had been able to sign up for BetRivers electronically.
September should bring an incredibly interesting and potentially robust revenue report. The NFL, NHL, NBA and MLB are all in action, which means more betting on the ChicagoBears. There are five online betting apps and mobile registration has been in effect for the first 19 days of the month. And it may be extended for the full month.
Sportsbooks could produce a garish handle in September given that 93 % of July bets were placed online.
How did casinos in Illinois survive?
The total handle was close to$ 51.4 million in July. Sportsbooks made$ 3.36 million in revenue as a result of the hold, which was 7.05 %. That equals$ 545, 000 in tax revenue.
The carry was comparable in March, at 7.58 %. However, sportsbooks made$ 72, 000 in profit despite just six times of operation and no wireless presence. That amounts to slightly less than$ 11,000 in tax revenue.
One odd statement from that March era was that about a third of the$ 950, 000 in handle was made up of bets. The NBA and college sports were the two most popular sports for placing bets at the time.
As you might anticipate, BetRivers’ smart monopoly caused it to rule July. Argosy Casino Alton‘s retail sportsbook was also open, but it made up less than$ 600,000 of the$ 54. 4 million handle.
An enabling beginning laced with skepticism
All things considered, despite the Illinois & rsquo sports betting environment, more than$ 50 million was made in July. is impressive. Indiana, which has eight online sportsbooks, posted a $70 million in July handle.
It bounced back with $169 million in handle in August. With William Hill’sTuesday launch, there are now five online sportsbooks in the Prairie State compared to one in July.
If mobile registration remains, Illinois has loads of potential. But where do the state and its sports bettors go from here?
There’s a possibility that the in-person membership requirement will be reinstated after September 19. The 93 % online gaming percentage simply serves to reinforce what we already knew to be true about how important the choice was.
If in-person membership returns, people have had a reasonable amount of time to file for FanDuel, DraftKings, and BetRivers. But if it does, it’s difficult to imagine large numbers of new people going to a game to register.
Illinois coulduse the tax revenue right now, and the mobile sports betting numbers are striking.
Now let’s rush.