Illinois achieved a new monthly record in December with a sports betting handle of $491.7 million.
Illinois narrowly missed reaching the $500 million milestone in sports gambling revenue, but it is expected to surpass it soon. The Prairie State currently holds the top ranking overall, and it has the potential to surpass Pennsylvania to claim the number 4 spot in the US for sports gambling revenue in the next few weeks.
Despite all Illinois casinos being closed for the entire month of December, the state still managed to achieve success. If the casinos had been open, it is estimated that Illinois would have exceeded $500 million in revenue, considering the popularity of online betting.
Below are some key findings and questions drawn from the latest statistics.
When will Illinois’ sports betting industry surpass Pennsylvania’s?
In December, Pennsylvania ranked as the third largest sports betting state in the US with a handle of $548.6 million.
The increase from November amounted to $56.7 million.
During the period from November to December, the population of Illinois increased by $42.5 million.
Illinois may have emerged victorious, but it appears to have reached a plateau when compared to another state.
In September and October, things were different. Illinois saw a $129.4 million increase in handle during those two months. New sportsbooks were being introduced and some were allowing remote user registration for the first time.
Pennsylvania experienced a $63 million increase in handle between September and October.
Obviously, Illinois lacked financial control throughout December, resulting in $24.8 million in wagers in October.
However, Illinois is no longer growing at a faster pace than other businesses.
Was that altar? Absolutely.
Barstool Sportsbook and other fresh providers ought to raise the ceiling in Illinois.
Illinois has only five online bookmakers, which is fewer than other major markets.
In Pennsylvania, there are 11 website operators.
Barstool, the third most popular sportsbook in Pennsylvania in December with $72.6 million in handle, is set to launch in Illinois in time for March Madness.
It is uncertain whether Barstool in Illinois will develop or if its introduction will negatively affect existing operators.
If it performs similarly to how it did in Pennsylvania, that alone would be enough to narrow the gap between the two states.
Not to mention, BetMGM sportsbook and Unibet sportsbook are also expected to debut in IL in 2021. BetMGM is a major player in the sports betting industry, trailing only behind DraftKings and FanDuel in terms of brand recognition.
Whether or not Gov. JB Pritzker will end online registration during the COVID-19 pandemic is crucial. Although it is anticipated that he will continue renewing his executive order, there is no guarantee.
Illinois could once again surpass Pennsylvania if Pritzker does.
In another reports, BetRivers loses to FanDuel.
BetRivers placed lower than second in sports betting handle for the first time.
Below are the operator’s figures for December.
| Licensee | Brand on the internet | Complete Manage | Control Website | Shop Handle | Express levy | Nearby Excise Income | |
|---|---|---|---|---|---|---|---|
| King of the Casino | DraftKings | $195,431,892 | $195,431,892 | $0 | $8,591,137 | $1,052,253 | $74,248 |
| Par-A-Dice | FanDuel | $144,445,143 | $144,445,143 | $0 | $8,372,994 | $1,060,666 | $83,928 |
| Rivers | BetRivers | $111,216,418 | $111,216,418 | $0 | $7,280,377 | $1,019,055 | $83,814 |
| Hawthorne | PointsBet | $32,043,421 | $32,043,421 | $0 | $2,578,417 | $361,199 | $666 |
| Queen Victoria | Theodore Hill | $8,583,662 | $8,583,662 | $0 | $1,564,583 | $86,437 | $0 |
| Argosy | N/A | $0 | $0 | $0 | -$12,334 | $1,335 | $0 |
| Aurora in Hollywood | N/A | $0 | $0 | $0 | -$3,205 | $29 | $0 |
| Joliet from Hollywood | N/A | $0 | $0 | $0 | -$3,125 | $0 | $0 |
| Total | $491,720,536 | $491,720,536 | $0 | $28,368,846 | $3,580,973 | $242,656 |
BetRivers continues to see significant success in Illinois, however, DraftKings and FanDuel have solidified their positions as the top players in the market, a trend that is consistent across most states.
BetRivers initially had an advantage as the first online operator, but it is now losing its edge.
At some point, BetRivers and Barstool may vie for the top spot in Prairie State, with three locations.
Despite everything mentioned, there remains a significant disparity between No. 3 BetRivers and PointsBet and Theodore Hill.
While BetRivers may aspire to achieve a higher ranking, consistently generating $100 million in revenue should still be considered a successful accomplishment.
On what did Illinois residents wager in December?
There were numerous betting options available in the final quarter of 2020.
Some of the athletics included the NFL, the school football bowl season, college sports, and the NBA.
Sport caused the control break.
| Sport | Handle |
|---|---|
| Football | $200.6M |
| Basketball | $143.52M |
| Parlays | $89.96M |
| Soccer | $28.75M |
| Other | $12.99M |
| Tennis | $5.6M |
| Boxing/MMA | $4.47M |
| Hockey | $1.13M |
| Golf | $892K |
| Motorsports | $35.7K |
