Illinois heralds record-setting November sportsbetting revenues

Home » Illinois heralds record-setting November sportsbetting revenues

The many retail and online sportsbooks in the American state of Illinois reportedly chalked up a record $78.2 million in aggregated revenues for November as their combined handle rose by 74% year-on-year to hit in excess of $779.8 million.

According to a Monday report from the online gambling news domain at PlayIllinois.com, the November revenue tally represented a swell of 112% when compared with the $37 million that was chalked up for the same month in 2020 and shattered the Midwestern state’s previous best of $49.9 million set in March. The source detailed that this came even as handle failed to surpass the previous month’s all-time high of $840.4 million owing to one less full weekend of professional and collegiate football.

Public prosperity:

All of this reportedly saw the jurisdiction of 12.8 million people book an all-time high of $79.3 million in taxable November sportsbetting revenues, which was 50.7% above the $52.5 million tally set for the previous month, to yield a similarly record-setting $12.7 million in state and local taxes. However, Illinois’ average daily sports wagering volume for the 30-day period purportedly dipped by a little over 4% month-on-month to about $26 million.

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Prominent player:

Illinois kicked off its online and retail sports wagering market in March of 2020 and has reportedly since gone on to become the third most lucrative sportsbetting market in the United States behind only Nevada and New Jersey. Eric Ramsey from PlayIllinois.com purportedly noted that this performance was a significant contributor in a month-long surge that saw the nation’s entire sports wagering scene amass over $658.5 million in aggregated November revenues, which was a boost of some 48.4% month-on-month.

Reportedly read a statement from Ramsey…

“Even in what was the most profitable month in United States sportsbetting history, Illinois stands out because of how dramatic its growth has been. What is most remarkable is that the state’s sportsbooks continue to post these results with the market hampered by the ban on in-state college sports and in-person registration. The sky will truly be the limit with those handcuffs removed.”

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Dominant destinations:

For his part and Joe Boozell from PlayIllinois.com disclosed that New Jersey remained the nation’s most lucrative sportsbetting market in November as its $1.3 billion in aggregated handle produced roughly $114.8 million in combined revenues. He asserted that this was purportedly followed by the $62 million in receipts from the $1.1 billion in wagers booked in Nevada while Pennsylvania occupied fourth spot with handle of $761.6 million and revenues of $84.9 million.

Boozell reportedly proclaimed…

“In a young market like Illinois, sportsbooks continue to expand their reach and bettors are becoming increasingly comfortable with less conventional products such as in-game betting. With an already expanding market and regulation changes in the state that will open new avenues for sportsbooks, 2022 should bring explosive growth.”

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