Illinois Casino: State the third-largest market in the United States in 2021

Illinois Casino: State the third-largest market in the United States in 2021

According to government figures, Illinois ended 2021 as the third-largest sports betting market in the United States, despite a December performance that fell short of breaking revenue records. 

Rivers Casinos Becomes Illinois’ First Property to Launch Online Sports Betting

December Windfall for Illinois Casino  

In December, the region’s sportsbooks brought in $789.6 million in online and retail wagers, up 60.6 percent from $491.7 million in December 2020 and closing as the second biggest in the region’s history.

December’s wagers continued an active fall, which saw $779.8 million in November wagers and a record $840.4 million in October wagers, which included five full weekends of football betting. Betting volume was $25.5 million per day in December, a modest decrease from $26 million a month earlier.

Gross gaming income decreased to $36.7 million in December, down 53.1% from a record $78.2 million in November. However, the win increased 29.3 percent from $28.4 million a year before. This generated $33.7 million in taxable revenue, which resulted in a $5.4 million state and local tax revenue. Illinois generated $7.02 billion in online and retail wagers, placing it third behind New Jersey ($10.9 billion) and Nevada ($7.1 billion); $6.7 billion in online wagers alone; $534.1 million in gross income; and $84.7 million in state and local taxes.

Eric Ramsey, an analyst for PlayUSA, noted that Illinois sportsbooks nearly tripled their betting volume despite regulatory restrictions such as in-person registration, Illinois sportsbooks nearly tripled their betting volume. With the elimination of in-person registration and other requirements in March, Illinois is poised to surpass both Nevada and New Jersey in the coming year. The state’s prospects for sports betting are extremely bright.

In December, online betting accounted for $752.9 million, or 95.3 percent, of all wagers in December. DraftKings/Casino Queen took the top spot with the combined online and retail handle of $295 million, including $290.4 million in online wagers that generated $7.5 million in gross revenue. FanDuel finished second with $232.2 million in online and retail wagers, including $230.6 million in online wagering. This total handling increased from $216.2 million in November and generated a state-record $13.9 million in gross income. Moreover, state regulators just approved BetMGM’s entry into the state.

Quotes from the Press Release

“While the relative lack of competition among online sportsbooks has benefited DraftKings and FanDuel, it has slowed the market’s overall development,” stated Joe Boozell, PlayIllinois’ principal analyst.

“The addition of another well-known brand, such as BetMGM, together with the regulatory improvements, should help the market advance further.”

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.