Illinois Sportsbooks End 2021 With Nearly $800 Million In December Wagers
According to Play Illinois, another strong month pushes Illinois & rsquo, handle to$ 7 billion for the year, third-highest in the U.S.
(LAS VEGAS) — Illinois sportsbooks finished the year on a high note even as December’s nearly $40 million revenue on nearly $800 million in wagering fell short of setting fresh records. The third straight month with betting of $780 million or more was an apt conclusion to a year that positioned Illinois as the nation’s third-largest market for sports betting with nearly $7 billion in wagers, according to Play Illinois, which tracks the state’s regulated online gaming and sports betting market.
According to Joe Boozell, lead scientist for Play-illinois.com, the Bulls are a hot seat going forwards because Bookmakers have been operating at an explosive rate over the past three months. & ldquo, Despite the fact that growth has been unrelenting, it’s crucial to keep in mind that Illinois’ market is still in its infancy. Earlier this year, some restrictions on sportsbooks will be lifted, which puts the sector in a strong position. & rdquo,
According to official data released on Friday, Illinois & rsquo, sportsbooks took in$ 789.6 million in online and retail wagers in December, up60.6 % from$ 491.7 million and the second-most in state history. December & rsquo’s bets were an extension of a busy fall that brought in$ 779.8 million in November wagers and an all-time high of$ 840.4 million during October, which featured five full weekends of football betting. The average daily betting level over the 31 days in December was$ 25. 5 million, over from$ 26. 6 million in November.
However, punters fared much better in December than November. Gross gaming revenue decreased to a more typical$ 37.7 million in December, down 53.1 % from the November record of$ 78.2 million. However, December & rsquo’s victory was still 29.3 % higher than$ 28.4 million in December 2020. The final amount collected in December was$ 34. 7 million in chargeable income, with state and local tax totaling$ 5.4 million.
Yet as in-person registration needs returned to the state, the quarter marked the end of a season that saw explosive growth for sportsbooks. For all of 2021, Illinois & rsquo, retail, and online sportsbooks produced:
- Online and retail wagers totaled$ 7.02 billion, an increase of 273 % from 2020’s$ 1.9 billion. Over the course of the year, only New Jersey($ 10.9 billion ) and Nevada($ 7.1 billion ), attracted more bets.
- Online bets alone total$ 6.7 billion, up from$ 1.8 billion in 2020. & nbsp,
- Gross profits increased from$ 137.4 million in 2020 to$ 534.1 million.
- $84.7 million in state and local income, increasing from$ 20.2 million in 2020.
According to Eric Ramsey, an scientist for the PlayUSA.com Network, which includes Play Illinois.net, they were able to almost triple gambling volume despite regulatory restrictions like in-person enrollment placed on Illinois bookmakers. Illinois will probably go by both Nevada and New Jersey in the upcoming year thanks to in-person registration and other regulations that will be eliminated in March. The state’s potential of sports gambling is incredibly promising. & rdquo,
Football generated$ 265.7 million in betting in December, an increase from$ 257.1 million last November, despite the challenges of the Chicago Bears andrsquo. Basketball betting increased to$ 226.4 million as a result of the Bulls & rsquo’s success, up slightly from$ 236.3 million in November. & nbsp,
In December, online betting accounted for$ 752.9 million, or 95.3 %, of all bets. With a combined online and retail handle of$ 295.0 million, including$ 2.90.4 million in online bets, DraftKings / Casino Queen topped the state. Net profit from the combined control was$ 7.5 million.
With$ 232.2 million in online and retail bets, including$ 230.6 million, FanDuel was once more in second place in the state. The total control increased from$ 216.2 million to$ 139 million in November, bringing in a state-best total revenue of$ 13 million. & nbsp,
DraftKings and FanDuel have benefited from the equivalent lack of competition among online casinos, but the market’s overall age has been hindered, according to Boozell. Together with the regulation changes, & ldquo, another well-known brand like BetMGM, should help the business make another advancement. & rdquo,
For more, visit Play-illinois.com/news.
Contact: Zack Hall, Catena Media, [email protected]