November 16, 2022

Illinois Sports Betting Posts Record $633.6M in March Handle

Illinois sports betting finally topped the $600 million deal with mark, due to March Madness, an additional sportsbook, and cell registration. The Prairie State is the final one to report its monthly figures that have catapulted the US complete sports betting deal with for March over $4.6 billion.

According to figures released Monday by the Illinois Gaming Board, March deal with totaled $633.6 million, improving the earlier deal with report of $581.5 million reported in January. March handle additionally represented a 24.3% enhance from February’s $509.8 million.

Illinois joined New Jersey, Nevada, Pennsylvania, and Indiana as the only authorized states to cross $3 billion in handle in the post-PASPA period.

Illinois, the Second-Largest Market Revenue-Wise

March deal with additionally put the Prairie State No. 3 nationally behind New Jersey, and Nevada. But the revenue-wise, Illinois was No. 2 nationally for the month.

Operators hit $44.three million in adjusted gross income, leading to a 7% hold. The income was up 25.2% from February’s $35.four million.

That allowed the state to attract $6.6 million in taxes, in accordance with the IGB report. In addition, the Cook County amassed $493,543 via its 2% tax on almost $24.7 million in AGR from bets positioned within the county. In total, the sports betting tax was $7.2 million, a rise of twenty-two.3% month-over-month.

Basketball Stole the Show

Basketball handle drew $365.7 million in March bets, and RTP Live roughly half of that was wagered on March Madness alone. According to the IGB official Marcus Fruchter, nearly $176.eight million was guess on the NCAA Tournament with $14.6 million in income. He revealed the quantity at a meeting final month.

Those figures missed an undisclosed operator, which means the final total is greater than $176.eight million. However, the final numbers didn’t include the updated complete.

No different sport reached the $100 million handle mark in March.

Tennis drew $47.2 million, hockey introduced in $32.8 million, soccer ($29.1 million), and golf with a $10.5 million handle managed to remain among the top 5.

Parlays accounted for practically $122 million in wagers.

DraftKings Sees Drop Amid Barstool’s Entry

Almost ninety six.1% of the total sports bets had been positioned digitally, accounting for $609 million in deal with in March. But Barstool Sportsbook, which grew to become the sixth cellular operator in Illinois following the launch on March eleven, and three different sportsbooks gained at the expense of DraftKings’ handle share.

The Boston-based DraftKings’s deal with fell from February’s $243.5 million (or 42.3% of all online handle) to $203.9 million in March (or 33.5% of all on-line handle).

BetRivers additionally reported a loss in the month-over-month handle. The operator’s on-line deal with of $109 million in February dipped to $95.7 million deal with in March, shrinking its online handle share from 19% in February to 15% in March.

FanDuel noticed some improvement in its digital handle share to 32% from 30.1% because the New York-based operator reported $194.9 million of handle in March.

The other operators, Australia-based PointsBet and Caesars-owned William Hill had mobile handle shares of 8.8% and a pair of.2%, respectively.

Barstool Sportsbook finished fifth in online deal with ($46.9 million), however its 10.96% hold translated into greater than $5.1 million in income, permitting it to put fourth forward of PointsBet in revenue.

Though the general market was dominated by online operators, retail sports activities betting also improved a bit. The retail sports betting reported a $24.6 million deal with, up 25.4% from February’s $19.6 million.

Will Illinois Sports Betting Continue its Record Performance?

Illinois sports activities betting was the third-largest marketplace for February and March owing to its handle. In reality, the March deal with distinction between Illinois and Nevada is simply $7.2 million. Also, Illinois’s deal with greater than doubled Indiana’s deal with of $316.7 million for a similar period.

All the signs confirmed Illinois is on the trail to replace the Silver State as the second-largest sports betting market within the nation after New Jersey. But the state had just one barrier which may hinder its sports activities betting market: in-person registration requirement.

From June 2020 to March 2021, Illinois sports betting flourished unprecedently, because of Gov. JB Pritzker’s govt order that allowed remote registration provisionally amid the pandemic.

March was the final full month of distant registration within the state as Pritzker didn’t renew the order, reinstating the in-person registration requirement at the beginning of April. It essentially means every new bettor will have to go to a physical casino to make a sportsbook account. The industry analysts imagine this might impede the expansion of the market within the coming months.

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