Super Bowl Sunday Generates Over $1 Million In Tax Revenue In Illinois
Illinoisans bet $45.6 million on Super Bowl LV, according to data from the Illinois Gaming Board (IGB).
Sportsbooks made a$ 7.7 million profit, which included$ 1.1 million in tax revenue.
According to monthly trends, about 94 % of the handle was mobile. Wholesale sportsbooks have reopened all over the state, but as expected, online gambling was the main factor.
The first significant event on which Illinoisans may lawfully wager was Super Bowl 55. Although we won’t likely know the full February control numbers until April, Super Bowl betting has caused the final total to be colorful.
Could the Illinois & rsquo Super Bowl total have been higher?
The succinct response is yes. Without context,$ 45.6 million in a day is quite impressive, but it would have been higher if the three most widely used betting apps, Illinois & rsquo, had not encountered problems.
DraftKings, BetRivers and FanDuel combined to make up 92% of handle in the most recent revenue report. And an hour before kickoff, customers were mostly unable to place bets with any of them.
It’s impossible to predict how much money Illinois lost as a result of the outages, but we anticipate that it was at least peripheral. If not more.
If there aren’t any other complex problems, we might not learn the truth until the following year.
Whatever the case,$ 45.6 million is a sizable sum for just one day.
For context, Illinois took in $449.2 million in bets in November. That averages out to about $15 million per day.
The monthly handle would be well over$ 1 billion if there were a Super Bowl every day.
Of course, there isn’t. But with March Madness betting approaching, this provides a useful reference point for how Illinois bettors treat the biggest events.
The Land of Lincoln should have a standard month in March, if this is any sign.
The game was lost by bookmakers and rsquo.
Sportsbooks had a handle of 16.8 %, which is significantly higher than the industry average. The industry norm is usually between 5 and 6 %.
There are probably a lot of factors at play these, but the Kansas City Chiefs‘ popularity is the main one. Naturally, the Tampa Bay Buccaneers easily covered as three-point underdogs with a 31 – 9 victory.
At FanDuel, for instance, about 72% of the money was on the Chiefs (-3) heading into the game. The under also hit, and 69% of the action for that market was on the over.
So, while it was a bad day for Illinois sportsbooks from a technical standpoint, the game itself played out beautifully for the operators.