Local school sports fans were disappointed that neither Illinois team advanced to the second weekend of the NCAA Tournament, but for gamblers, it may have been a blessing in disguise.
Illinois’ No. 4 seed was eliminated by Houston in the Round of 32 following a close victory over Chattanooga in their first game. Meanwhile, Loyola Chicago, seeded 10th, narrowly beat Ohio State in the Round of 64.
Illinois schools played three March Madness games and failed to cover the spread in all three, losing by a combined score of 0 – 3.
If you are not aware yet, wagering on Illinois college teams is only permitted in person. If you were hoping to find odds on your mobile IL sports betting apps, you would have found none.
If either school had operated, there could have been a rise in the frequency of angry tweets about the Illinois policy. As a result, local politicians may be able to temporarily avoid criticism for the unpopular policy, but they could also risk losing tax revenue.
analyzing the March Madness Illinois gaming separates
We possess three sets of NCAA Tournament betting data from DraftKings Sportsbook, the top handle leader in Illinois.
The Illinois games were not included in these numbers as residents of Illinois were unable to bet on local teams using the DraftKings Illinois app.
Below are the spreads for the three games:
- Illinois vs. Chattanooga: 52 % bets, 32 % winnings on Illinois, – 8
- In the Ohio State vs. Loyola Chicago matchup, 56% of bets and 50% of the money are on the pick’em line.
- 51% of bets were placed on Illinois, while 53% of the winnings went to Illinois in the game against Houston with a +4.5 point spread.
The stakes and income are distributed fairly evenly, as evidenced by these figures. However, there is no evidence of home discrimination ingrained in the Illinois side.
It is challenging to provide an exact figure, but it is reasonable to assume that punters from Illinois may have contributed to the overall support of their local schools. It is possible that the Illini received less than half of the wagers for the Chattanooga game. In-state bets likely resulted in local colleges being accountable for bookmakers.
Illinois is currently one of the top four sports betting markets, with the potential to rise to second place in the US in the coming years.
Illinois residents bet approximately $200 million on the NCAA Tournament last year, generating at least $2.1 million in state tax revenue.
Three games alone won’t cover the extensive training needed. However, if Illinois had allowed betting on local schools via mobile phones, it could have brought in a substantial amount of tax revenue.
forecasts for March Madness gambling in 2022
Play Illinois predicted that Illinois residents would wager nearly $300 million on the NCAA Tournament before the start of this year’s competition.
Starting on March 5, in-person membership will no longer be required. This change may lead to a significant increase in Illinois sports betting figures when the March profit report is released.
Placing bets in person on Illinois teams could have resulted in a decent amount of winnings if either the Illinois or Loyola teams had won. However, since both teams ended up losing, it appears that this opportunity was missed.
For the upcoming year’s March Madness, the current limitations on undergraduate betting will remain in place, but they are set to expire in the summer of 2025. At that point, it will be up to policymakers to decide the next steps.
Will college betting be fully accessible by the time the 2025 soccer season begins? It is likely, as long as there are no significant obstacles.
