Illinois To Blow Out Candles On Adventurous First Year Of Sports Betting
It may seem like a lifetime ago, but Tuesday marks the one-year anniversary of legal sports betting in Illinois.
On March 9, 2020, retired ChicagoBlackhawkEddie Olczyk made the first sports wager at Rivers Casino & nbsp.
It’s been a full season now, isn’t it crazy to think that? & rdquo, according to PointsBet Communications Director Patrick Eichner.
Yes, it is. And it would be an understatement to say that it has been adventurous.
Due to the COVID-19 pandemic, Illinois casinos closed down about a week after Olczyk & rsquo’s opening wager. There wouldn’t be any sports betting in Illinois for weeks if there were no online gaming programs available at the time( and very few athletics ).
Illinois is the No. 1 state as of right then. 4 sporting betting markets exist in the US, and more are on the way.
How did we find these, then? Let’s look back at the first year of Illinois sports betting & rsquo.
The Illinois activities betting industry was not intended to operate in this manner.
If you recall, there was supposed to be an in-person sports betting registration requirement for the first 18 months in Illinois.
COVID – 19 had additional ideas. Gov. In June, JB Pritzker loosened the restriction and made it possible for people to open online sports betting transactions.
The problem? There were no online sportsbooks at the time in Illinois, but BetRiverschanged that on June 18.
Pritzker made the unexpected decision to reinstate in-person membership in late July. But that turned out to be a mistake because he changed his program in late August.
It was a perplexing moment for both Illinois residents and potential users.
We really just need to control what we can control, & rdquo, Eichner said. It may sound like coach-speak. We take great pride in our agility and readiness to adapt to any circumstance, which is particularly crucial in Illinois. & rdquo,
Fast forward to the present, and we haven’t returned to in-person membership since August.
That & rsquo has paved the way for a thriving sports betting market in Illinois.
Illinois has placed almost$ 2 billion in bets.
Illinois just lags New Jersey, Nevada, and Pennsylvania in terms of monthly sports wagering control. And of those states, it & rsquo is by far the youngest market.
In December, Illinois took in $491.7 million worth of bets. That was a record, and the market should eclipse $500 million when the January report from the Illinois Gaming Board comes out.
Additionally, sports gambling has brought in$ 125. 5 million in chargeable income, or$ 20. 2 million after state and local taxes.
Given how quickly handle grew, each Illinois revenue report release in the fall would typically generate & ldquo, oohs & rdqua, and aah-sandlquo on Twitter.
Here were the first few weeks of the Illinois sports betting control:
- $ 52.5 million in July 2020
- 140.1 million in August
- September:$ 305.2 million
- $ 434.6 million as of October
- $ 449.2 million in November
- $ 491.7 million in December
It’s important to keep in mind that if the law had been implemented as intended and people had to file for online gambling, this wouldn’t have happened as fast.
In the background, Pennsylvania, the No. 3sports betting state in the US, took well over a year to hit $500 million in monthly bets. Illinois is on track to do it after seven months.
For the majority of its existence, Illinois has only five website users: DraftKings, FanDuel, BetRivers, PointsBet, and William Hill. Less than the majority of the top states, that & rsquo.
And in the Land of Lincoln, the best providers have had great success.
DraftKings has risen to the top of the business.
The in-person registration requirement was meant, in part, to make life harder for DraftKings and FanDuel in Illinois.
But thanks to mobile registration, they were the top two IL sportsbooks by handle in December. DraftKings Sportsbook alone took in nearly $200 million worth of bets that month.
Since the beginning of sports betting in the state of Illinois, & ldquo and We & rsquo have seen significant growth in both handle and active users. According to DraftKings Head of Race and Sportsbook Johnny Avello, the potential appears promising. We’re glad to be there, We & rsquo, and happy first birthday. & rdquo,
DraftKings will also eventually have a retail sportsbook at Wrigley Field, as a part of its deal with the Chicago Cubs.
DraftKings had to fight BetRivers for the best place after it had already taken control earlier on.
Even though BetRivers also posted a sizable$ 111.2 million amount in December, it fell behind DraftKings and FanDuel for the first time.
More casinos in Illinois, as well as perhaps an online game.
The Illinois industry may continue to expand as long as online registration is still in use.
The ceiling of the Prairie State & rsquo should be raised by the new operators.
Illinois’ handle will probably surpass$ 500 million soon, and from there,$ 1 billion is in reach.
The biggest gambling scandal in Illinois, however, might not even require sports betting in a year.
Online casino betting, anyone? Illinoisans, it might be here sooner than you think.