Illinois Sports Betting Handle Hits $447m in November

Illinois’ sports betting results continue to improve with the state heading for even better total handle in the months ahead.

Sports Betting Handle in Illinois Improves in November

Sports betting in Illinois improved in November a report released by the Illinois Gaming Board and delivered by regulator head Marcus Fruchter revealed. The numbers marked a slight increase from October’s $434.6 million in total sports betting handle to $447 million in November.

Illinois is the last state to report November results due to a state-mandated delay that requires reports to be issued 45 days after the figures have been submitted to the regulator.  With the latest figures, the total bets placed across the United States for the period hit an estimated $3.46 billion, slightly better than October’s handle, bolstered by football, college and professional basketball.

In fact, Illinois now ranks among the leaders in terms of total sports betting handle generated in November, with Pennsylvania posting only $490 million over the period, even though the market has been live for much longer than Illinois.

Part of the reason why Illinois has been able to catch up to other states is the access to remote registration sports betting options, that have boosted the state’s ability to leverage interest from domestic sports fans and betting audiences.

Sportsbooks Revenue Remains Steady

Sportsbook revenue in November stood at around $41 million in adjusted gross revenue, which was a slightly smaller result than October’s and drove $6 million in tax money.

While results have not grown significantly, the decision to lift the in-person registration requirement, a move Gov. JB Pritzker backed due to the pandemic and untapped potential of the state, Illinois has been able to surpass an important milestone, cracking the $450 million threshold fairly quickly in comparative terms with other states.

Another thing to note is that Illinois only hosts five online sportsbooks, which while not too impactful on the betting handle, reduces competition, and potentially means much smaller reach. Illinois is not necessarily hosting the biggest brands in the industry either, meaning that it’s relying on less experienced sportsbooks to drive interest for the state.

Meanwhile, New Jersey and Nevada remain well ahead of Illinois in terms of sports betting handle, posting $931.6 million and $609.4 million respectively. With its 12 million people, Illinois is primed to continue developing and begin catching up to the majority of other states that authorize sports betting.

December and January’s results will be interesting as they will encompass the more advanced stages of basketball and football competitions, with the Super Bowl just around the corner to spur additional betting activity.

Leave a Reply

Your email address will not be published. Required fields are marked *