Illinois Sports activities Betting Deal with climbs to just about $ 140 million in August
The state of Illinois started flexing its sports betting muscles in August. Its six retail sports betting and three online platforms combined generated sales of nearly $ 140 million, according to the Illinois Gaming Board.
The $ 139.6 million more than doubled the combined $ 61.7 million the ITUC reported in its first report for the months of March, June and July. BetRivers (Rivers Casino) was an overwhelming part of its retail and online business, generating more than $ 11.3 million in in-person betting and $ 106.3 million in online betting.
The six sports bets achieved a combined turnover of more than 7.2 million US dollars, which corresponds to a share of 5.18%. Illinois tax coffers received just over $ 1 million based on the 15% tax on sports betting revenue.
Argosy Casino Alton was the only other sports betting company to have retail sales of over $ 1 million in August and wagers valued at nearly $ 2.7 million. William Hill (Grand Victoria Casino Elgin) had sales of nearly $ 600,000 in its sports betting retail outlet after launching August 1.
Two other retail sports bets – Hollywood Casinos in Joliet and Aurora – opened in mid-August and had retail sales of nearly $ 500,000.
September grip should be higher
Most promising for the Prairie State, there appears to be plenty of room for a larger grip in September. In addition to the expanded offering across the sports schedule – especially at the start of the NFL season and college football – it will be the first time online titans DraftKings and FanDuel have been active in Illinois for an entire month.
DraftKings, which operates a sports betting shop for retailers at Casino Queen, started both retail and online operations on August 5th, but was not able to significantly expand its online user base until August 19, when Governor JB Pritzker took the executive order 2020-41 restored suspend personal registration required to access mobile sports betting. Even so, DraftKings generated more than $ 13 million in online deals in that 12-day window.
FanDuel’s grip was smaller as he didn’t start online betting until Aug. 28 after turning away from Fairmount Park and deciding to make his way to Illinois via Par-A-Dice Casino (East Peoria). FanDuel posted sales of $ 4.2 million for four days of operation and hit the storefront on September 10th.
PointsBet began accepting mobile betting on September 12th and opened its main retail location on the Hawthorne Race Course on September 30th. The company will also have OTB offices in Crestwood, Oakbrook Terrace and Prospect Heights in the Chicagoland area. William Hill was the last of the state’s five mobile sportsbooks to start accepting bets on September 15.
MLB beats NBA for the top overall grip
Although both the Chicago Cubs and White Sox were eliminated in the first round of the MLB postseason, their respective rides to the playoffs sparked great betting interest. BetRivers accepted a total of more than 885,000 bets on baseball, generating a handle of nearly $ 42.4 million, which is nearly 86% of the total $ 49.4 million handle generated by the sport.
The Argosy’s proximity to St. Louis Market and the Cardinals helped make MLB the main driver of their grip. Baseball-based bets made up nearly 36% of the grip and nearly 20% of all bets placed in Alton.
While there were no fans in attendance for NBA games and the Chicago Bulls weren’t part of life in the Florida bubble, that didn’t stop the Illinois weather from watching the action. Almost 570,000 wagers were made on basketball, resulting in a profit of nearly $ 46.9 million.
Hockey ranked third in terms of total bets placed (300,070) with a handle of nearly $ 14.76 million, and sports betting continued to take numerous action on the parlays. There have been 253,066 such bets totaling nearly $ 10.6 million.
BetRivers will rule in first place in August, but will it last?
It’s not surprising that BetRivers was the first to generate impressive handles in both categories in both retail and online. This dominant market share should be enjoyed over a longer period of time given the 540 day waiting time required for online sports betting applicants after being granted a retail license. However, both DraftKings and FanDuel have gotten around this by partnering with casinos in the state while maintaining their respective brand identities.
Online registration via Pritzkers Executive Order is still possible at least until October 17, and the more than 230,000 registered accounts that IGB administrator Marcus Fruchter noted in all five mobile sports bets at the board meeting in mid-September will undoubtedly be significantly expanded.
However, some of this expected loss of market share is offset by betting on NFL and college football.