Illinois Nears $1 Billion In Monthly Sports Bets After Record-Breaking October
Illinois sportsbooks set a new state record in October with $840.4 million in bets, surpassing the previous totals of $596.5 million in September and $434.6 million in October 2020.
In March 2021, a historical event occurred with a total value of $633.4 million.
Illinois remains in third place in the US for monthly sports betting handle, following New Jersey and Nevada, who saw $1 billion in wagers. The return of NBA and NHL betting in October contributed to a rise in sports betting across the country.
In addition, the MLB Playoffs took place in October.
Illinois sportsbooks earned a profit of $48.3 million, contributing $7.9 million in tax revenue. They represented 5.7% of the overall activity.
Currently, online sports betting registration is still not allowed in Illinois. However, there is a bill, HB 3136, awaiting Governor JB Pritzker’s approval that could end the requirement for in-person registration by March 5, 2022.
Let’s examine the distribution of sports betting among different books and predict how the betting volume could change in the coming months.
Casino gambling handle for Illinois in October
Here is a breakdown of the detailed statistics from the casino:
| Licensee | Online Company | Complete Control | Handle Online | Shop Solve | Profit overall | Express levy | Local Income Taxes |
|---|---|---|---|---|---|---|---|
| King of the Casino | DraftKings | $315,255,548 | $308,838,498 | $6,417,050 | $11,698,248 | $2,015,602 | $123,876 |
| Park Fairmount | FanDuel | $236,690,155 | $235,425,523 | $1,264,632 | $22,268,067 | $3,486,948 | $253,599 |
| Des Plaines Rivers | BetRivers | $135,678,358 | $119,009,435 | $16,668,923 | $7,979,969 | $1,259,967 | $104,855 |
| Aurora in Hollywood | Barstool | $69,826,626 | $67,917,082 | $1,909,544 | $2,375,483 | $474,858 | $35,848 |
| Hawthorne | PointsBet | $62,403,736 | $59,572,924 | $2,830,812 | $2,845,501 | $481,444 | $51,955 |
| Victoria the Great | Caesars | $13,999,307 | $12,685,905 | $1,313,402 | $593,941 | $93,242 | $0 |
| Argosy | N/A | $4,035,268 | $0 | $4,035,268 | $391,897 | $52,122 | $0 |
| Joliet from Hollywood | N/A | $1,800,349 | $0 | $1,800,349 | $120,418 | $14,690 | $0 |
| Par-A-Dice | FanDuel | $751,089 | $0 | $751,089 | $43,120 | $10,653 | $105 |
| Total | $840,440,436 | $803,449,367 | $36,991,069 | $48,316,644 | $7,889,526 | $570,238 |
For the umpteenth time, DraftKings Sportsbook led the state in handle, while FanDuel in Illinois continued to dominate in revenue, a trend that has been consistent for months.
There have been minimal changes to the endeavor as anticipated, largely due to the lack of a new casino being initiated since Barstool was launched in the state in March.
Additionally, these sportsbooks are not drawing in customers as quickly as they would with mobile sign-up options, resulting in a slower rate of in-person registration. As a result, the business is currently in a steady state.
That should change immediately.
When returns from online registration arrive, & hellip,
Even though the sports betting industry in Illinois is thriving, you will still be welcomed warmly as a member of our website.
Initially, most top sports betting states have fewer sportsbooks than Illinois, which currently has six. The requirement for in-person membership has discouraged many betting providers from entering the state. Nevertheless, by the conclusion of 2022, it is anticipated that the number of users will increase to double digits.
As a result, customers will enjoy a wider variety of promotions and products, while increased state control could lead to higher tax revenue.
Additionally, in-person registration has been an option in Illinois since April. Many residents of Illinois may want to sign up for a sports betting app but may not feel comfortable going to a physical sportsbook.
HB 3136 aims to reinstate online registration in time for betting on March Madness, the most popular sports betting event in the US. March 2021 witnessed a substantial amount of betting activity in the state.
It wouldn’t be shocking if Illinois comes close to reaching a $1 billion handle that month.
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