Illinoisans May Have Bet Over $200 Million On March Madness Alone

Illinois Gaming Board Administrator Marcus Fruchter stated that Illinois saw a sports betting handle of at least $76.8 million during March Madness, not including one operator.

The profit from IL sportsbooks totaled at least $14.6 million, leading to a minimum of $2.1 million in tax revenue. It is unclear which technician is not included in these calculations.

At the IGB meeting on Wednesday morning, initial data indicated that sportsbooks made up 8.3% of the total handle. The full numbers for March are expected to be released in a few weeks, potentially setting a new all-time record for the regular handle in Illinois.

According to the Illinois Gaming Board (IGB), residents of Illinois wagered $45.6 million on the Super Bowl, showcasing the state’s passion for big events. Additionally, several sportsbooks encountered app disruptions during the game.

This is just the second March Madness in Illinois where sports betting has been legal, so there is limited data to analyze. Nevertheless, the amount of $176.8 million seems significant upon initial observation.

When the secret operator finally provided the numbers, the handle had already reached $200 million.

Certainly, the handle has been elevated even more.

Why the March sports betting control in Illinois might be gaudy

The $178.6 million mark is notable, but it could have been much higher if Illinois residents were permitted to bet on state college teams during March Madness.

Illinois and Loyola-Chicago both made it to the NCAA Tournament, meeting in the Round of 32 for an intense showdown.

In the Land of Lincoln, it is illegal to bet on interstate school teams, which was particularly frustrating for Illinois bettors in March.

According to a spokesperson from DraftKings, the Illinois vs. Loyola-Chicago game had the second-highest handle out of all Sunday Round of 32 games in the tournament. Surprisingly, this was achieved without any bets from Illinois.

It is hoped that the ban will be lifted in time for next year’s March Madness, as a bill advocating for this change is currently being reviewed.

Certainly, the primary concern is the reintroduction of in-person registration, which is expected to remain in place for an extended period.

Before March Madness gambling, Barstool went live.

Barstool Sportsbook debuted on March 11, breaking Illinois’ streak of only having five online sportsbooks since mid-September.

Barstool covered all event competitions during the entire NCAA Tournament.

Given the importance of Barstool’s user numbers, it would be interesting to see how it compares to its top rivals in the state. Without online registration starting in April, Barstool may struggle to compete with websites like DraftKings and FanDuel.