Illinois Sportsbooks Set New High In January With Nearly $870 Million In Wagers
According to Play Illinois, as the sports betting market enters a new era, NBA recognition and NFL playoffs continue to drive significant action.
Illinois sportsbooks saw a strong start to 2022, with the January handle reaching nearly $870 million for the first time. Factors like a longer NFL regular season and expanded playoffs, as well as growing basketball betting, contributed to the favorable month for sports betting. Play Illinois reported that this promising start paves the way for significant growth in the state’s online gaming and sports betting market in the coming year, especially following the removal of in-person registration requirements.
According to Joe Boozell, the head scientist at Play-Illinois.com, the rapid progress over the last four months will benefit sportsbooks in Illinois. This is a result of a major development in Illinois sports gambling, which entered a new phase on March 5 when the requirement for in-person registration was eliminated. This change has the potential to propel Illinois past other states and make it the second-largest market in the U.S. Boozell also noted that sports betting has been steadily spreading throughout the state.
New official data revealed on Thursday indicates that sportsbooks in Illinois set a new record for January by generating $867.5 million in online and retail wagers, surpassing the previous record of $840.4 million. This represents a 9.9% increase from December’s $789.6 million and a significant 49.2% rise from January 2021’s $581.6 million. Furthermore, the daily betting volume also saw an increase from $25.5 million in December to $28.8 million over the course of January’s 31 days.
In January, the net profit of sportsbooks increased significantly from $36.2 million to $59.3 million, marking a 20.2% rise from January 2021’s $49.4 million profit. Tax revenue also saw a boost, reaching $66.2 million, with $10.7 million going towards state and local treasuries.
In January, legal jurisdictions nationwide, including neighboring states Indiana, Iowa, and Michigan with sports betting, saw historic levels of wagering. The surge was driven by factors such as the national college football championship game, an expanded playoff system, and an additional week of regular-season NFL games.
In January, football betting in Illinois brought in $224.1 million, down from December’s $265.7 million. Of this amount, over $60 million was attributed to the Super Bowl, showing the strong interest from bettors. Basketball also played a big role, with NBA betting reaching $276.2 million in January, up from December’s $226.4 million.
According to Eric Ramsey, an analyst at the PlayUSA.com Network (which includes Play Illinois.net), the NFL’s decision to extend its regular and playoff schedule had a significant positive impact on sportsbooks. Ramsey highlighted that the extra games, condensed into a single month, resulted in impressive numbers in Illinois and other areas.
Online betting in January accounted for $829.1 million, representing 95.6% of all bets placed. DraftKings, the top operator in the state, managed a total of $293.2 million across both online and retail platforms, with $283.7 million coming from online betting alone. This resulted in a gross profit of $17.2 million.
FanDuel came in second place with $261.2 million in retail and online wagers, totaling $299.1 million. This led to a gross profit of $23.0 million, the most profitable in the state.
| Licensee | Brand on the internet | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| East St. Louis game Queen | DraftKings | $293,210,435 | $17,213,926 | 5.9% | $3,102,273 |
| Park Fairmount | FanDuel | $261,179,473 | $22,997,524 | 8.8% | $4,143,730 |
| Des Plaines Rivers | BetRivers | $147,649,772 | $11,172,020 | 7.6% | $1,915,269 |
| Hawthorne | PointsBet | $77,735,892 | $4,079,237 | 5.2% | $706,350 |
| Aurora in Hollywood | Barstool | $63,707,639 | $3,800,551 | 6.0% | $678,044 |
| Queen Victoria | Caesars | $16,585,947 | -$847,739 | -5.1% | $12,224 |
| Argosy | $4,754,099 | $495,186 | 10.4% | $66,644 | |
| Joliet from Hollywood | $1,664,912 | $289,413 | 17.4% | $39,542 | |
| Par-A-Dice | FanDuel | $1,017,325 | $143,261 | 14.1% | $23,379 |
| Total | $867,505,495 | $59,343,378 | 6.8% | $10,687,455 |
It is anticipated that the new era will bring higher numbers, with Play Illinois predicting that with the NCAA Tournament and the elimination of in-person registration requirements, March could see nearly $1 billion in wagers. BetMGM, a new operator, was recently launched, with more sportsbook launches expected in Illinois in 2022.
According to Boozell, the sports betting industry in Illinois has faced difficulties in its first two years, setting it apart as a unique market in the United States. Despite these challenges, the leading casinos have successfully navigated the obstacles and prospered. The proposed adjustments aim to grow the market and create a more competitive and advantageous atmosphere.
To learn more, please visit Play-illinois.com/news.
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