November Numbers Show Big Month For Illinois Sports Betting
Illinois is always the last state in the U.S. to release its sports betting numbers, and the November figures were just made available on Wednesday.
It was another record-setting month for a growing sports betting market, and that trend is expected to continue into 2021 and beyond.
A Closer Look at the Numbers
The traditional sports betting handle in Illinois for November topped the $450 million mark, while the normal betting handle came in at just over $447 million. The traditional handle accounts for all of the wagers placed in November, while the normal handle only accounts for bets or wagers that were settled by the final day of the month.
By going over the $450 million marks with traditional handle, Illinois is now just the fourth state in the U.S. to accomplish the feat. Even more impressive is that Illinois has only had sports betting since March, and most retail sportsbooks have been shut down during the pandemic.
Gross revenue was down slightly during November 2020, but the state is still seeing plenty of tax revenue. In November, gross revenue was just over $41 million, while that number was right around $42 million in October. More than $6 million was generated for the state in taxes in November.
In November, the IL sports betting handle only increased by just four percent, and the market could be leveling off a bit. There will still be some big months in 2021, but the market will not grow much more until new operators are able to launch.
Still, it took the state of New Jersey 17 months to reach the $450 million mark in total betting handle. Pennsylvania was not able to reach that mark until 23 full months after launch, and Illinois was able to accomplish the feat in less than 10.
Barstool Sportsbook, BetMGM, and Unibet are all expected to launch in Illinois in 2021, but an official launch date has not yet been announced. DraftKings and FanDuel have quickly emerged as the top two mobile sports betting options in Illinois.
Remote Registration Extended
Illinois lawmakers are expected to make several changes to the current sports betting law when they are in session. One of the biggest changes could be in the registration requirements that are currently in place.
The original sports betting law requires customers to complete registration in-person for 18 months after the industry launches. That has not been the case in Illinois, and Governor J.B. Pritzker has taken matters into his own hands.
In June, Pritzker issued an Executive Order to waive the in-person registration requirement and allow for it to be done remotely. He has since extended that order several times, and remote registration is now available through February 6.
Online sports betting has accounted for over 94 percent of all of the wagers in Illinois since March, and the state has needed the online sportsbook to generate revenue. There are currently just five online options in the Land of Lincoln, but that number is expected to grow in 2021.
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