Illinois Sports Bets Reach $ 400 Million in Bets in August | Illinois

LAS VEGAS, Oct.12, 2021 / PRNewswire / – Illinois sports betting began to emerge from a summer slowdown in August with an 8.5% gain in betting volume from July, the first gain of paris month to month since March. The over $ 400 million increase in bets was welcome ahead of a critical time of year for the industry, according to PlayIllinois, which tracks the state’s regulated online gaming and sports betting market.

“The interest in baseball, especially the White Sox, coupled with the return of football in August has set the stage for what will certainly be the busiest four-month period on record for the legal sports betting industry in the United States. ‘Illinois, “said Eric Ramsey, analyst for the PlayUSA.com network, which includes PlayIllinois.com. “After the summer any gain is welcome. But the gains in August are expected to pale compared to what we are seeing with a full football schedule.”

Illinois retail and online sports betting accepted $ 400.4 million in bets in August, up 185.8% from $ 140.1 million in August 2020 and up 8. 5% from $ 369.1 million in July, according to official data released Tuesday. Daily betting volume increased to $ 12.9 million in the 31 days of August, from $ 4.5 million per day in August 2020 and $ 11.9 million per day in July.

Gross gaming revenue fell 12.3% to $ 32.7 million in August from $ 37.3 million in July, which generated $ 26.8 million in adjusted gross revenue. The August profit brought in $ 4.3 million in state and local taxes.

Baseball garnered the most interest in August, with $ 139.6 million in wagers, up from $ 124.0 million in July. Tennis ($ 43.4 million) and soccer ($ 30.8 million) also received significant interest. With just a handful of college and NFL preseason games, in addition to futures betting, football has attracted $ 17.2 million in bets.

August’s volume helped push the industry to $ 4.0 million in wagers and $ 326.3 million in gross gambling revenue for the year. And with football is expected to attract over $ 20 billion in bets Across the country, the state could reach $ 6 billion in betting and $ 500 million in gross revenue by the end of the year.

“There is no doubt that the last four months of the year will bring a wave of new records,” said Joe Boozell, chief analyst at PlayIllinois.com. “The biggest unknown is how much in-person registration and the ban on betting on the state’s varsity teams will weigh on betting volume. We know this will be a good end of the year for them. sports betting, but it won’t be as good for the industry as it could have been. “

The August bets included $ 380.2 million in online betting, representing 95.0% of the state’s grip. DraftKings / Casino Queen again led Illinois with $ 149.2 million in combined online and retail sales, up from $ 122.7 million in July. The operator also won $ 146.6 million in online betting, the best on the market. In total, DraftKings generated gross revenue of $ 11.3 million in the market, a notable gain from $ 9.5 million in July after the operator began offering profitable parlays for the same game.

FanDuel was second with $ 111.5 million in online and retail wagers, compared to $ 118.5 million in wagers in July. $ 110.9 million from the August bet has gone online. The result was $ 10.5 million in gross gaming revenue.

“The comeback of football brings a high volume of betting, which is a motivation for every operator,” said Boozell. “But the value of the football season for sports betting is not just short-term profitability. Strong engagement offers sports betting the opportunity to expand their customer base using aggressive promotions and other marketing strategies. . And that can pay off even after the end of the football season. “

To learn more, visit PlayIllinois.com/news.

About the PlayUSA network:

The PlayUSA.com Network and its state-focused branches are a major source of information, analysis and research related to the regulated online gaming market in the United States.

Contacts:

Zack Hall, Catena Media, 775-338-0745 [email protected]

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THE SOURCE PlayIllinois.com

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