Despite the lack of a presence in retail sports betting, Illinois peaked for the seventh straight month as the state’s game board bet more than $ 491.7 million on events in December 2020.
The seven state-owned casinos that offer sports betting and the Hawthorne Race Course, which also offers retail betting, were closed in December due to the second wave of the COVID-19 pandemic. That shifted action to the five wireless operators across Illinois, and the result was a 9.4% increase in traditional handle from the November mark of more than $ 449 million.
While Griff once again set a new standard, the operators’ income didn’t follow suit, as the weather in December fared much better than in November. The win rate dropped from 9.1% to 4.86%, resulting in sales of nearly $ 23.9 million after consecutive months of more than $ 41 million. Accordingly, the state’s tax revenue fell to nearly $ 3.6 million from more than $ 6 million a month in October and November.
The final 2020 sports betting revenue report also confirmed a new national record for the third straight month, with more than $ 3.77 billion wagered in December. This is an increase of nearly 8.9% from more than $ 3.46 billion in November. Despite the pandemic, the expansion of sports betting from 13 states and jurisdictions to 19 over the course of 2020 helped wager more than $ 21.4 billion, after the handle dipped to just under 13.1 billion in 2019 US dollars summed up.
DraftKings widens the gap between the top operators
Although DraftKings was the second company in Illinois to offer mobile betting after BetRivers and launched almost two months after co-using the Kambi platform, DraftKings has proven to be a leader when it comes to settlement. In December, bets were accepted for more than $ 193.7 million. That’s a 16.6% increase over November when the mobile quintet was on the rise at $ 166.19 million.
FanDuel, which began operations three weeks after DraftKings in late August, took second place from BetRivers in December for $ 143.1 million, up 25.1% from the previous month. BetRivers still recorded a handle of nearly $ 110.6 million, but it was also a 12.2% decrease from the $ 125.95 million reported in November.
PointsBet and William Hill posted double-digit percentage increases from November to round off the group of wireless operators. PointsBet grew more than 20% to nearly $ 31.9 million in accepted bets, while William Hill saw the highest increase of any operator at 61.5% as bettors placed nearly $ 7.6 million in bets , compared to $ 4.7 million in November. FanDuel, PointsBet and William Hill all went online in September 2020.
While DraftKings came first, FanDuel was recognized by cellular operators with sales of nearly $ 7.1 million. DraftKings pushed BetRivers into second place by less than $ 100,000 and claimed more than $ 6.9 million, while BetRivers topped $ 6.8 million. The order of completion may have stayed the same as it was in November, but sales were significantly lower when the trio grossed more than $ 38 million that month.
However, PointsBet and William Hill saw sales grow month over month. The Australia-based sports betting company jumped from $ 2.1 million in November to more than $ 2.4 million in December, while UK-based William Hill jumped to nearly $ 580,000 after hitting $ 463,000 in November -Dollars earned.
Parlays ride the Revenue Bus again
In a theme that repeats itself nationwide, the appeal of playing a multi-legged parlay for a big payday continues to be a major source of income for operators. Illinois was no different in December as Weather bets placed nearly $ 89 million worth of such bets and operators generated more than $ 14 million in revenue at a 15.84% win rate.
Overall, the Parlays took third place in the Handle category, followed by soccer with more than $ 200 million and basketball with $ 143.5 million. The operators raised nearly $ 6.2 million from soccer betting, but the win rate there was a far more modest 3.08%. It was similar with Hoops as a 3.17% win rate resulted in nearly $ 4.6 million in revenue for the operators.
Football continued to be a favorite among Illinois bettors, finishing fourth with a stake of nearly $ 29 million. The operators outperformed other sports here, achieving a win rate of 8.08% to generate more than $ 2.3 million in revenue.
However, Bettors wreaked havoc in the “Other” category. Operators paid out nearly $ 17.3 million for a little less than $ 13 million. FanDuel and DraftKings’ losses accounted for almost all of the nearly $ 4.3 million lost by operators, with FanDuel paying out more than $ 10.1 million on $ 7.8 million betting and DraftKings paid out more than $ 4 million on nearly $ 6 million in bets.
A 2020 snapshot
With the help of Governor JB Pritzker, who issued Executive Order 2020-41 last June, and his multiple renewals that continued through 2021, it can be argued that Illinois handled the sports betting pandemic pretty well. Almost $ 1.9 billion has been wagered since it launched in March 2020 and more than 95% of that handle was online.
Operators generated more than $ 125 million in revenue, which resulted in the state receiving nearly $ 19 million in tax revenue for the year. Cook County, which is based in Chicago and receives a separate 2% tax on adjusted gross earnings for betting within its borders, raised nearly $ 1.4 million.