After the removal of in-person registration requirements earlier this month, the Illinois Gaming Board released Thursday its monthly financial report showing the monthly handle in January for sports betting climbed to nearly $870 million for the very first time. On the same day, the regulators also decided to ban the state’s sportsbooks from laying odds on Russian contests, amid the ongoing Russio-Ukrainian war.
With an extended NFL regular season and expanded playoffs played over five weekends, the sports calendar was favorable during the first month of 2022.
Sportsbooks in the state generated $867.5 million in online and retail wagers in January, breaking the record $840 million accepted in October. January’s handle was up 9.9% from $789.6 million in December, and up 49.2% over the $581.6 million generated in January 2021. Betting volume grew to $28 million per day in the first month of the year from $25.5 million in December.
Illinois’ sportsbooks won $59.3 million in gross revenue from January’s bets, up 61.2% from $34.7 million in December and up 20.2% from $49.4 million in January 2021. With $66.2 million in taxable revenue, $10.7 million in tax revenue was injected into state and local coffers.
Online betting accounted for $829.1 million, or 95.6%, of all wagers in January. DraftKings topped operators in the state with $293.2 million in combined online and retail handle, including $283.7 million in online wagers. That handle produced $17.2 million in gross revenue.
FanDuel was second with $261.2 million in online and retail wagers, including $259.1 million in online wagering. That yielded a state-high $23 million in gross revenue.
Football betting produced $224.1 million in wagers, down from $265.7 million in December. And with more than $60 million in Super Bowl-related wagers, football has drawn an enormous amount of bettors’ attention so far this year. Basketball betting saw an increase as well, reaching $276.2 million in January, up from $226.4 million in December.
Joe Boozell, lead analyst for PlayIllinois.com, which tracks the state’s regulated online gaming and sports betting market, said: “The momentum of the last four months will serve sportsbooks well as the removal of the in-person registration requirement on March 5 moved Illinois sports betting into a new era. Sports betting has continued to gain popularity in the state, and with the reins lifted, Illinois could very well grow into the second-largest market in the U.S. this year.”
“The first two years of sports betting in Illinois have been a rocky road, making it one of the more unusual markets in the U.S.,” Boozell continued. “Despite that, the top sportsbooks have thrived. Ideally, the changes will help expand the market and foster a more competitive and healthy market.”
Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIllinois.com, added: “The NFL did sportsbooks a massive favor by expanding its regular season and playoff schedule. The fact that those additional games were all squeezed into one month helped produce some eye-popping numbers in Illinois and beyond.”
The state counts with the NCAA Tournament and the removal of in-person registration rules to bring even bigger numbers in the coming months.
Right after the in-person registration rules were lifted, BetMGM became Par-A-Dice Casino in East Peoria’s online sports betting platform. Shortly after, Caesars announced its sports wagering app’s entrance to the state. More sportsbooks are expected to arrive in the state in 2022.
Ban on Russian sporting events
In a declaration issued two weeks after the Russo-Ukrainian war started, Illinois Gaming Board Administrator Marcus Fruchter banned the state’s sportsbooks from laying odds on Russian contests, calling it “contrary to public policy”.
Casinos cannot take bets on “any sports event, league or competition” in Russia or Belarus. During a virtual Gaming Board meeting, Fruchter said he considers wagering in Illinois on such sports poses “a significant likelihood of serious risks to the integrity of the Illinois sports wagering industry”.
It is unclear how this measure will affect Illinois’ sportsbooks as the Gaming Board tracks bets placed by sport, but not by league.
Many sportsbooks previously pulled Russian contests from the board in the days after February 24 invasion, as a growing number of US businesses face pressure to sever ties with any interests in the country.
