Illinois Posts Another Record-Setting Sports Betting Handle In November
For the month, the Prairie State only trailed New Jersey, & nbsp, Nevada, and Pennsylvania.
In November, IL sportsbooks made about$ 41 million profit, which is comparable to the$ 42.4 million they made in October.
The state’s tax revenue from sports betting was around$ 6 million.
DraftKings led the way in individual handle once again, taking in $ 166,000,000 of bets for the month.
Illinois Gov. JB Pritzkershut down all 10 of the state’s casinos in mid-November, hence the smaller retail figures than normal.
However, online sports betting continues to thrive, thanks in large part to Pritzker suspending the in-person registration requirement.
College sporting events made up 25 % of the handle, while professional sports events accounted for 75 % of it.
A new bill that would repeal the ban of wagering on in-state schools could add to the latter mark in the future.
December figures to be a banner month, as college basketball was in-play for all 31 days while the NBA returned on Dec. 22.
Despite Illinois’s current level of success with sports betting, it feels like we & rsquo is just getting started.
Profits for November, per casino
Here were the sportsbook’s income figures for November:
|BetRivers||$ 133,2 million|
|FanDuel||133.5 million dollars|
|PointsBet||26. 2 million|
|Theodore Hill||$ 6. 2 million|
|Alton Argosy Casino( retail only )||$ 2. 4 million|
|Joliet at the Hollywood Casino( retail only )||$936,575|
|Aurora Hollywood Casino( retail only )||$780,295|
What is the biggest lesson around? PointsBet experienced a startling decline after posting$ 60.7 million in the control in October.
FanDuel, DraftKings, and BetRivers all performed better than their October figures. There is currently a definite top three in the IL industry.
Barstool will visit Illinois when?
In the upcoming weeks, we anticipate seeing that record expand.
Play Illinois has learned that Barstool aims to launch in Illinois in time for March Madness, while Unibet and BetMGM Illinois are pending applicants. It is to be determined if any new sportsbooks will launch in time for the Super Bowl betting.
The latter two can launch once the Illinois Gaming Board ( IGB ) gives the go-ahead.
As of now, there are no other imminent launches in Illinois. But also keep an eye on Bally’s, which figures to eventually provide sports betting through Jumer & rsquo’s Casino & amp, Hotel.
Despite Illinois & rsquo’s success, the sportsbook market isn’t yet crowded.
There are currently more than five online options available in states like Colorado, Pennsylvania, New Jersey, and Illinois & rsquo.
Illinois sports gambling control: The$ 1 billion fee
At this rate, it’s reasonable to begin considering when Illinois could reach$ 1 billion in monthly sports betting handle.
New Jersey, the US leader, took in $931.6 millionin bets in November, setting a record for the fourth straight month.
It & rsquo, unless New York legalizes it very quickly, it will only be a matter of time before New Jersey reaches$ 1 billion.
Since online sports betting has been available in New Jersey since 2018, it has a major advantage over Illinois. In June, when no significant activities were taking place, the initial online casino in Illinois was established.
Although it might take some time, the Prairie State will eventually reach$ 1 billion. November was yet another encouraging month.