Few Winners, Many Losers Due To End Of Online Sports Betting Registration
Illinois Gov. JB Pritzker chose to end online sports betting registration on April 2, a move that will certainly have a ripple effect across the state.
The gambling consumer is most severely impacted by the choice. Most IL sports betting operators experience it & rsquo, but not all do.
Retail sportsbook locationsOperators closest to Chicago have an advantage over the competition as Illinois has recently become much more important.
Here are the winning and losing sportsbooks from Pritzker & rsquo, s decision, from the perspective of the operator.
Victors: PointsBet and BetRivers
In the Chicagoland region, there are wholesale casinos owned by BetRivers and PointsBet. Therefore, BetRivers and PointsBet are well-positioned to continue acquiring clients, even though some sportsbooks may not encounter significant progress at all during this time.
Depending on your precise location, Rivers Casino is located in Des Plaines, on a 25-minute pull from Chicago.
The move is a win-win for Rivers. BetRivers Sportsbook should cut into DraftKings and FanDuel’s lead in the Illinois sports betting market, and this could also help increase foot traffic at the casino.
PointsBet SportsbookIn the meantime, it has three retail locations in the Chicagoland region( Stickney, Prospect Heights, and Crestwood ). Shortly, a third may be added in Oakbrook.
In terms of monthly handle, PointsBet is a distant fourth among IL sportsbook operators. It certainly won’t be the market leader any time soon, but it could at least grow its user base during in-person registration while DraftKings and FanDuel could mostly remain flat.
That brings us to our section on the & ldquo, losers & squo. Teaser: In this case, there are a lot more losers than finalists.
Losers: Every another casino in Illinois that is currently operating
As was already mentioned, DraftKings and FanDuel’s business growth will probably be hampered by the move.
What’s the good news for the two of them? The Illinois business is doing well in business. View the January profit splits:
|Licensee||Web company||Handle in full||Control Internet||Shop Control||Full Income||Express Revenue||Local Income Taxes|
|King of the Casino||DraftKings||$244,196,209||$243,538,843||$657,366||$16,423,303||$2,334,761||$154,716|
|Competition Course at Hawthorne||PointsBet||$40,591,090||$40,439,434||$151,657||$4,412,405||$630,133||$7,247|
|Victoria the Great||Theodore Hill||$9,270,978||$8,917,196||$353,782||$616,486||$73,260||$3,162|
|Joliet from Hollywood||N/A||$309,047||$0||$309,047||$73,440||$9,001||$0|
The IL activities betting market is currently dominated by DraftKings and FanDuel, and they should keep doing well there.
Although BetRivers and PointsBet does reduce their share of the pie, it’s not all doom and gloom when you consider the people they’ve already won.
Having said that, DraftKings Due to their retail locations in west Illinois, FanDuel is at a disadvantage in the world of in-person membership.
Customers can only sign up for FanDuel at FanDuel Sportsbook & Horse Racing in Collinsville. While the track could lure a good amount of St. Louis-area foot traffic, those people wouldn’t be able to go back to Missouri and bet on their phones, as sports betting is not legal in MO.
As for existing operators, though, this is likely the toughest on Barstool Sportsbook.
Midway through March, Barstool just debuted, following the likes of DraftKings and FanDuel. Less than a quarter was allotted for the operator to gain Illinois online users.
Hollywood Casino Aurora is Barstool’s retail partner, and Aurora is the second-largest city in IL by population. That’s a plus, but it’s hard to find silver linings when you had about seven fewer months of remote registration than your competitors.
The March profit record ought to be released in the middle of May. We & rsquo will learn a lot more about the initial success of Barstool & RSquo at that time.
- Who’s For, Against Major Gaming Proposals: The Illinois House Executive Committee discussed several major gaming issues in Illinois, including in-person registration. See who’s for and against online registration.
More morons: Every conceivable casino in Illinois
It won’t be appealing to approaching operators to open a betting in this Illinois-based environment.
BetMGM and Unibet are currently pending candidates. Unibet has a market entry agreement with Argosy Casino Alton, while BetMGM is most likely to partner with Par-A-Dice Casino.
Given how much of a head start another providers have had, it is difficult to see either thriving right off the bat with in-person membership, even if approved by the Illinois Gaming Board.
TheScore Bet also has a market access deal. But joining any new market with established operators is challenging enough without an in-person registration requirement.
Outsiders have the option of placing a bid for one of Illinois’$ 20 million mobile-only certificates, which should be accessible by the end of the year. However, this option doesn’t seem to make sense at first glance.
The price tag is hefty, and because online registration would return for everyone once one of those licenses is handed out, this mystery operator would also be doing the competition a massive favor.
As you can see, Illinois is having a good time right now.