Illinois Sets New Record, Approaches Half-A-Billion Wagered On Sports In December

Illinois sportsbooks set a new quarterly record in December with total bets reaching $491.7 million.

Compared to November’s reported handle of $449.2 million, there has been an increase of $42.5 million.

Sports betting operators generated $28.4 million in revenue, resulting in $3.6 million in tax revenue for the state. Casinos accounted for 5.8% of the total handle.

Illinois remained the fourth highest state for sports betting in the US, while Pennsylvania came in third with a December handle of $548.6 million.

Illinois is advancing in Pennsylvania, and it appears poised to quickly rise to the top, possibly reaching third place in the near future.

What is the probable cause of the increase in control from one month to the next? December had a busier schedule of activities.

In addition to the NFL, December 2020 featured the college football bowl season, college basketball games, and the start of the NBA season on December 22nd.

On the other hand, college basketball games were only scheduled for the final week of November when there were no NBA games. Furthermore, bowl games typically attract higher levels of betting compared to regular college football matchups.

Therefore, college sports were responsible for $167.2 million out of the total handle of $491.7 million in Illinois, marking the highest amount ever recorded and accounting for 34% of the total.

As of now, Illinois residents cannot bet on their own college teams, but a new bill may change this by the end of 2021.

December profits for Illinois sportsbooks

Here is a compilation of all the sportsbooks in Illinois, along with their December numbers.

DraftKings	$ 195.4 million
FanDuel	$ 144.4 million.
BetRivers	11.2 million
PointsBet	$ 32,000,000
Hill, William	$ 8.6 million
Alton’s Argosy Casino	N/A
Joliet at the Hollywood Casino	N/A
Aurora Hollywood Casino	N/A

DraftKings maintained their position as the top handle leader, followed by FanDuel and BetRivers in second and third place. There was a notable difference in handle between the third and fourth rankings.

FanDuel finished ahead of BetRivers in tackles for the first time.

I wanted to let you know that wholesale casinos were closed for the entire month of December. Although online gambling is more popular, its impact on overall control is minimal.

In October, Illinois sportsbooks took in $24.8 million in bets, but this amount dropped to $15.5 million in November due to a spike in COVID-19 cases in the state.

The total amount decreased to zero in December. Therefore, it would be prudent to include an extra $25 million in projections for the future total in Illinois to account for retail betting.

Casinos reopened in late January, so we may not see a major impact in the upcoming report. Nonetheless, we anticipate a noticeable difference starting in February.

Illinois has already claimed $45.6 million in Super Bowl bets, adding an intriguing element to the February earnings report.

When does Illinois see the arrival of new users?

A new online casino has been operating in Illinois for approximately five months now.

Even with the market maturing, new operators are still eager to support the cause, even though the control continues to expand. Illinois consumers have significantly fewer options compared to similar states, as there are only five online sportsbooks available.

Penn National Gaming CEO, Jay Snowden, has announced that the Barstool sportsbook will be launching in Illinois just in time for March Madness. The target date for the launch is set to be a few weeks from now.

While that statement may not be the final word, Penn now has its license and no longer faces any additional government obstacles.

The BetMGM Illinois sportsbook and Unibet sports app are set to launch in Illinois in 2021, pending approval from the Illinois Gaming Board.

Both parties are potential candidates. BetMGM is awaiting the finalization of the license transfer from FanDuel in order to assume control of the Par-A-Dice Casino license, whereas Unibet has successfully secured a market access agreement with Argosy Casino Alton.

Once Illinois has operators in the double digits, it is expected to reach a new peak.

For now, getting third place in just a few weeks is a pretty good accomplishment.