Super Bowl Sunday Generates Over $1 Million In Tax Revenue In Illinois

According to the Illinois Gaming Board (IGB), Illinois residents wagered $45.6 million on Super Bowl LV.

Sportsbooks generated a profit of $7.7 million, inclusive of $1.1 million in tax revenue.

Three out of the five online sportsbooks — DraftKings, BetRivers and FanDuel — experienced outages at crucial points in the evening, despite this.

Monthly trends indicate that approximately 94% of the handle was mobile. While wholesale sportsbooks have resumed operations throughout the state, online gambling was, predictably, the primary contributor.

What was the amount bet by Illinois residents on the Super Bowl in 2022?

The first major event that Illinois residents could legally place bets on was Super Bowl 55. We probably won’t have the complete figures for February’s betting until April, but the Super Bowl wagering has made the final total quite impressive.

Could the Illinois & rsquo Super Bowl total have been higher?

To put it briefly, the answer is yes. $45.6 million in a day is indeed impressive, lacking any context. However, this figure could have been higher if the three most popular betting apps, including Illinois & rsquo, hadn’t faced issues.

In the latest revenue report, DraftKings, BetRivers, and FanDuel collectively accounted for 92% of the handle. However, an hour before kickoff, the majority of customers were unable to place bets with any of these platforms.

Predicting the exact amount of money Illinois lost due to the outages is impossible, but we expect that the loss was at least peripheral, if not greater.

Unless there are other complex problems, the truth may not be learned until next year.

In any scenario, $45.6 million is a substantial amount for just a single day.

To provide some context, Illinois received $449.2 million in bets in November, which equates to an average of approximately $15 million daily.

If there was a Super Bowl every day, the monthly handle would exceed $1 billion.

Naturally, there isn’t. However, as March Madness betting is on the horizon, this offers a valuable frame of reference for how bettors in Illinois approach the most significant events.

If this is an indication, March should be a standard month in the Land of Lincoln.

The game was lost by bookmakers and rsquo.

Sportsbooks boasted a handle of 16.8%, a figure significantly above the industry average. Typically, the industry standard ranges between 5 and 6%.

Several factors could be influencing this, but the main one is likely the popularity of the Kansas City Chiefs. It’s also worth noting that the Tampa Bay Buccaneers comfortably secured a win as three-point underdogs, with a score of 31 – 9.

For example, at FanDuel, around 72% of the bets were placed on the Chiefs (-3) before the game started. The under bet also won, even though 69% of the bets in that market were placed on the over.

Thus, although Illinois sportsbooks had a technically challenging day, the game itself unfolded perfectly for the operators.