Illinois reportedly now has the fourth most vibrant online and land-based sportsbetting market in the United States after chalking up some $447 million in aggregated handle for November.
According to a Wednesday report from the online news domain at SportsHandle.com citing official information from the Illinois Gaming Board, the record result represents an around 2.8% rise from the $434.6 million wagered in October and means that the sportsbetting sector in ‘The Land of Lincoln’ currently sits fourth in the nation behind Pennsylvania, New Jersey and Nevada despite having gone live only in March. The source furthermore detailed that the handle tally came as associated aggregated revenues dipped slightly month-on-month to $41 million with Illinois having earned just over $6.1 million in sports wagering taxes.
Important impediments:
Currently home to eight locations operating retail sportsbooks, Illinois has moreover reportedly become the sixth state to cross the $1 billion handle threshold following the United States Supreme Court’s 2018 decision to revoke the previous Professional and Amateur Sports Protection Act (PASPA) prohibition. The jurisdiction of almost 12.7 million people purportedly surpassed this significant milestone despite the presence of a coronavirus-related 25% capacity restriction and Governor Jay Robert Pritzker’s November 17 decision to temporarily shutter all land-based gaming and betting venues.
Crucial comparisons:
Jessica Welman from the online news source at PlayUSA.com explained that the sportsbetting market in Pennsylvania generated November handle of about $491.1 million while Nevada and New Jersey topped the charts with figures of $609.4 million and $931.6 million respectively. The analyst furthermore used a Wednesday report to pronounce that Illinois is now rivalling these more mature states ‘because the top online sportsbooks in the country are investing heavily’ with local aficionados subsequently showing ‘an unprecedented fervor’.
Online optimism:
PlayUSA.com analyst Joe Boozell followed his colleague in expressing confidence with regards to the future of sportsbetting in Illinois as online wagering apps from operators Roar Digital, Unibet and Penn National Gaming Incorporated are all set to go live in the coming months to add to a roster that currently contains only five names.
Read a statement from Boozell…
“At this point, it makes sense to adjust our expectations up for the market. Remarkably, Illinois has done all this with just a handful of operators and without some of the best-known brands in the industry. The gains will continue to attract operators and could have Illinois poised to challenge even the largest market in the United States so long as the state’s in-person registration requirement remains suspended.”
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