Illinois Moves Up Sports Betting Ranks
The Illinois Gaming Board has finally announced the April sports betting numbers, and the numbers were impressive for the Land of Lincoln.
Even though Illinois saw a big decline after a big month of March, the state still became the second-largest sports betting market for the month.
The total sports betting handle in April was $537.2 million, a drop of more than 15 percent from the $633.6 million in March. This was expected without college basketball games, and also Illinois no longer has remote registration options available.
Revenue from sports betting industry was nearly the same in April as it was in March, and that is more important to sportsbooks and the state. The total sports betting revenue was $43.6 million in April after it was $44.3 million in March.
Illinois was able to bring in $7.1 million in sports betting tax in April after it was $7.2 million in March. A big reason for gambling expansion in Illinois was to increase tax revenue by legalizing another option.
Governor Pritzker failed to extend Executive Order 2020-41 at the beginning of April, and that could be a huge blow to the industry moving forward. Illinois is now only one of two states in the US that requires in-person registration to sign up for an account.
Online betting still dominated the market in April as online sportsbooks saw a total handle of $513.2 million. The online handle dropped by nearly 16 percent from March, and that is a trend that should continue moving forward.
With the loosening of some COVID-19 restrictions in Illinois, retail sports betting in Illinois casinos should pick up over the next few months. The total retail sports betting handle was under $24 million in April.
As the NBA and NHL Playoffs begin to wrap up, sports bettors will have a limited number of betting options throughout the Summer. Illinois could be on track to set a new monthly record for revenue and handle when the NFL returns in September.
Entire US Industry Down
A handful of states have already started to announce May sports betting numbers, but Illinois was the last to report in April. Even though Illinois was the second-best state, the entire US industry saw some disappointing numbers.
The entire US sports betting handle was $3.7 billion for the month of April, the first time that it has not gone over $4 billion since December 2020. The US handle was $4.6 billion in March, and March Madness played a huge role in the big numbers.
New Jersey continues to lead the way, and that state had a total handle of $747.9 million in April. New Jersey nearly went over $1 billion in total handle for the month of January, but the handle has been on the decline in recent months.
The biggest story was that Nevada actually slipped all the way to fourth place, with Pennsylvania taking the third spot. Pennsylvania had a total sports betting handle of $479.4 million, and Nevada came in at $457.8 million.
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