Illinois Nears $1 Billion In Monthly Sports Bets After Record-Breaking October
In October, Illinois sportsbooks established a new state record by handling $840.4 million in bets. This figure shows an increase from the $596.5 million in total wagers placed in September and the $434.6 million recorded in October 2020.
The historical event that took place in March 2021 was $633.4 million.
Illinois maintains its third position in the US for monthly sports betting handle, trailing behind New Jersey and Nevada, which recorded $1 billion in wagers. The resumption of NBA and NHL betting in October led to a nationwide increase in sports betting figures.
Furthermore, the MLB Playoffs occurred in October.
Illinois sportsbooks made a profit of $48.3 million, generating $7.9 million in tax revenue. The publications accounted for 5.7% of the total activity.
Naturally, there continues to be no online sports betting registration in the Land of Lincoln. Nevertheless, the days of in-person registration are expected to be limited, with a bill predicting its termination by March 5, 2022. At present, HB 3136 is awaiting attention on Governor JB Pritzker’s desk.
Let’s analyze the breakdown of sports betting by book and envision what the betting volume may appear like in the forthcoming months.
Casino gambling handle for Illinois in October
The comprehensive statistics from the casino are as follows:
| 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 |
DraftKings Sportsbook once again topped the state in handle, but in terms of revenue, FanDuel in Illinois took the lead – a trend that has been observed for several months now.
A few factors have resulted in minimal changes to the endeavor as expected. Primarily, since Barstool was launched in the state in March, we have not initiated a new casino.
Secondly, these sportsbooks aren’t attracting customers at the same rate as they would in a mobile sign-up setting when it comes to in-person registration. Thus, the business is currently in a stable state.
That should change immediately.
When returns from online registration arrive, & hellip,
Despite the booming sports betting industry in Illinois, you will receive a warm welcome as a website member.
To begin with, the majority of leading sports betting states have far fewer sportsbooks compared to Illinois, which has six. The prerequisite of in-person membership has deterred several betting providers from launching here. However, by the end of 2022, it is expected that there will be double-digit users.
Consequently, customers will have an increased selection of promotions and line-ups, coupled with heightened state control that could potentially enhance tax revenue.
Secondly, in-person registration in Illinois has been available since April. A significant number of Illinois residents may be interested in registering for a sports betting application, but perhaps not to the extent of visiting a physical sportsbook.
HB 3136 is set to ensure that online registration will be reinstated in time for betting on March Madness, the most widely participated sports betting event in the US. As mentioned before, March 2021 saw significant betting activity in the state.
Don’t be surprised if Illinois approaches a $1 billion handle that month, even if it doesn’t quite reach it.
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