Sportsbooks Cleaned Up On Loyola-Chicago Win Over Illinois, Despite No Action From Illinoisans

Written By Joe Boozell on March 23, 2021

Loyola – Chicago emerged victorious over top-seeded Illinois in the NCAA Tournament on Sunday, resulting in strong performances by US casinos in the matchup.

It is natural to assume that they would have earned even greater profits if betting on in-state college teams had been allowed in Illinois.

However, it is not.

Illinois residents were disappointed to find that they couldn’t place bets on a game between two home schools, despite sports betting being legal in the state for the first time during March Madness.

Embarrassing? Without a doubt.

However, there was a silver lining: Those who had faith in the Fighting Illini to cover the 7-point line, a bet that most people didn’t make, could have ended up saving some money.

The Loyola – Chicago victory was significant for casinos.

Sportsbooks faced a considerable risk when entering the sports betting market in Illinois.

The public betting splits on the spread were available at three of Illinois’ top sportsbooks: DraftKings, FanDuel, and PointsBet.

Illinois is receiving 82% of the funds and 81% of the bets on FanDuel.
PointsBet stated that 68% of funds and 79% of wagers are coming from Illinois.

It is impossible to predict how the figures would appear if Illinois residents were given the choice to wager on the sport.

Given the size of both fan bases, it is unlikely that the Ramblers will attract many supporters in the Prairie State. In fact, the difference in fan base sizes may have been even greater due to the larger number of Illini fans.

How much did users in Illinois miss out on?

We cannot say for certain, but if the lines are connected, it probably was a considerable quantity.

A representative from DraftKings told Play Illinois:

Determining the exact amount that sportsbooks missed out on is challenging, but the Illinois game from yesterday was the second most important game of the day for us. This is surprising considering the high level of engagement we typically see from residents of Illinois. If state residents had been able to place bets, we likely would have experienced a significant increase in activity.

DraftKings, with the highest handle splits, is the top sportsbook in Illinois in terms of monthly handle.

There was a lot of betting excitement surrounding the NCAA Tournament game in 2021 when two Illinois schools advanced to the tournament in the same year for the first time since 2007.

Finally, Illinois residents will have the opportunity to legally wager on their hometown teams during March Madness.

The Illinois sports gambling college restrictions would be lifted by a bill.

Illinois State Rep. Michael J. Zalewski (D) reintroduced a bill in February that would allow residents of Illinois to bet on their college teams.

There is hope that it will be approved in time for the upcoming college football season. Northwestern, after winning the Citrus Bowl and making it to the Big Ten Championship game, is anticipated to have another strong performance.

About a quarter of the monthly betting in Illinois comes from school betting. The absence of betting options for Illinois, Northwestern, Loyola – Chicago, and other schools is clearly having a major effect.

The unveiling is expected to grow in March as a result of March Madness.

Approval of Zalewski’s bill will provide valuable insights into the usage of sportsbooks, potentially mitigating losses incurred from imposed restrictions in the state.

Oregon State was defeated by Loyola – Chicago in Sweet 16

The Ramblers’ impressive victory against Illinois has greatly improved their odds in the Sweet 16, as reported by the bookmakers.

Loyola – Chicago is favored by 6.5 points over Oregon State’s 12 seed according to sportsbooks located outside the state.

Casinos have high hopes for the Ramblers outside of Oregon State sports.

As of now, Loyola – Chicago has +900 odds to win the national championship and +150 odds to reach the Final Four on DraftKings.

Loyola, seeded 8th, has the second best chance of winning out of the 16 remaining groups.

Houston, the second-seed in the Loyola region, narrowly defeated Rutgers in the Round of 32. The Ramblers are close behind the Cougars, who have a +100 chance of advancing from the Midwest Region.

If Loyola – Chicago and Houston both win their games, they may face off against each other in the Elite Eight on Monday.

Residents of Illinois will no longer have the legal ability to place bets on it. Nevertheless, we will keep you informed on the opinions of the non-Illinois betting public regarding the Rambler team.