Sports activities betting in Illinois drops for the second month and stays quantity 2 within the nation | Illinois
(The Center Square) – Sports betting in Illinois declined for the second straight month, but those placing bets in the state have a bigger appetite than any other state but one.
Since its inception, legal sports betting has generated over $ 53.8 million in taxes for the state of Illinois. An industry analyst assumes that gambling will continue to develop in the coming years.
PlayIllinois.com writer Joe Boozell says about $ 507 million was spent on sports betting in Illinois in May.
“That was number two in the country, just behind New Jersey, ahead of states like Nevada and Pennsylvania, and Nevada obviously stands out as a kind of gambling mecca,” Boozell told WMAY. “So that was the good news from the report.”
“The bad news is that this has been a decline for the second straight month,” Boozell said.
A total of $ 537.2 million was placed in April.
Boozell said this was to be expected with a slower sports season. But there is another factor that came into play last April.
“We think that in-person registration, which means people have to go to a sportsbook or a Racino to sign up for an account that has likely slowed some growth,” Boozell said. “That was not the case for about seven months in a row during the worst time of COVID.”
Sports betting was approved ahead of the COVID-19 pandemic with a scheduled start in late 2020. Governor JB Pritzker issued dozens of executive orders during the pandemic, including the ability to remotely register for sports betting. He canceled this order in April.
Boozell said that at a pace of more than $ 500 million in total bets per month, Illinois taxes are generating about $ 5 to $ 6 million per month.
“It’s not exactly to be despised, but it’s not a massive driver like some of these other fields, either,” Boozell said.
The Sports Wagering Fund had raised nearly $ 43 million in taxes. The funds are to be transferred to the capital project fund.
However, Boozell said the state could generate more revenue if gambling expanded. One area in which he said in the short term is likely that the state enable Betting on college teams in Illinois.
“In the long term, I think online casinos are a big thing that we watch playing online blackjack, roulette, etc. just on your phone by downloading it,” he said. “There is definitely a legislative dynamic in Illinois.”
Some groups, such as the Illinois Church’s Alcohol and Addiction Action, oppose expanding online gambling. The group says it could harm younger people.