LAS VEGAS, Dec. 8, 2021 /PRNewswire/ -- Illinois
sportsbooks reached a new monthly record for wagering and revenue
for the first time since the reinstatement of in-person
registration. With more than $840
million in wagers, Illinois
joined the top 18 legal sports betting markets in the U.S. that —
using five weekends of football, the opening of the NBA season, and
baseball's postseason — set a market wagering record in October,
according to PlayIllinois.
"A calendar with an extra weekend of NFL and college football,
the opening of the NBA and NHL seasons, and baseball's postseason
was always going to bring more action than a quieter month," said
Eric Ramsey, analyst for the
PlayUSA.com Network, which includes PlayIllinois.com. "Regardless,
a new high highlights the continued strength of Illinois' market, and it should grow even
stronger in the coming months."
Retail and online sportsbooks combined to handle $840.4 million in wagers in October, shattering
the record of $633.6 million set in
March, according to official data released Tuesday. Wagers were up
40.9% from $596.5 million in
September and up 93.4% from $434.6
million in October 2020.
Gross revenue rose 2.9% to $48.3
million in October from $47.0
million in October 2020 and up
8.4% from $44.6 million in September.
October's revenue still fell short of the record $49.9 million in gross revenue set in March.
Taxable revenue did reach a record, though, to $52.6 million in adjusted gross revenue, yielding
$8.5 million in state and local
taxes.
Illinois' sportsbooks had not
recorded a record month since the return of in-person online
registration in April. Illinois
ranked No. 3 in March among all U.S. markets with $633.6 million in wagers, behind only
New Jersey ($859.6 million) and Nevada ($640.8
million). Illinois still
ranked No. 3 in October, but has lost ground to New Jersey ($1.3
billion) and Nevada
($1.1 billion) — the first two states
to surpass $1 billion in wagers in a
month.
But with HB 3136 awaiting signature, which would do away with
in-person registration early next year, perhaps a $1 billion month could soon come to Illinois.
"The Illinois sports betting
market is thriving in spite of the current online registration
rules, so it's exciting to imagine what it will look like when
sportsbooks are untethered," said Joe
Boozell, lead analyst for PlayIllinois.com. "A surge of new
operators will certainly come. And there are an untold number of
Illinoisans sitting on the sidelines interested in making a bet
through an online sportsbook, but not enough to make a trip to a
retail sportsbook to register."
October's growth was a direct result of the month's busy sports
calendar. Five weekends of football attracted $330.1 million in wagers on the sport. The
opening of the NBA season, including a hot start by the Chicago
Bulls, drove $93.3 million in action
on basketball.
"The Bears' struggles are dampening bettor enthusiasm somewhat,
but NFL wagering isn't dictated as much by the success of local
teams as other sports," Ramsey said. "The early success of the
Bulls, however, and the short playoff run by the White Sox, were a
definite help."
Online betting accounted for $803.4
million of the wagers in October, or 95.6% of the state's
total handle. DraftKings/Casino Queen led the state with
$315.3 million in combined online and
retail handle, including $308.8
million in online wagers. The combined handle was up from
$236.5 million in September and
produced $11.7 million in gross
revenue.
FanDuel was next with $236.7
million in online and retail wagers, including $235.4 million in online wagering. The combined
handle was up from $156.2 million in
September and created a market-best $22.3
million in gross revenue.
"With only six in the state, Illinois is home to far fewer online
sportsbook operators than any other major U.S. market," Boozell
said. "By next year, the number of online operators should grow
well into the double-digits. An increase in competition would be
hugely beneficial for bettors."
For more, visit PlayIllinois.com/news.
About the PlayUSA Network:
The PlayUSA.com Network and
its state-focused branches is a leading source for news, analysis,
and research related to the market for regulated online gaming in
the U.S.
Contacts:
Zack Hall, Catena Media,
775-338-0745, 325556@email4pr.com
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SOURCE PlayIllinois.com
