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Illinois Betting Handle Crosses $500m for 5 Months in a Row
By Jeff Osienya Jul 13, 2021 IndustryThe betting volume of the Prairie State blows past half a billion dollars for the fifth month straight since January 2021. However, the sports betting handle has dropped since Gov. Pritzker shut off remote mobile registrations.Last week, the Illinois Gaming Board reported that sports fans in the state had spent a total of $507.3 million on sports wagers for May. This win marks the fifth consecutive month that the Prairie State has seen a handle of more than $500 million.
While the handle was a slight 5.6% dip compared to the $537.2 million that sports bettors spent on wagers in April, it was enough to maintain the Prairie State’s second position on national sports betting rankings. So, this will be the second month back-to-back that Illinois edged out Nevada to continue holding the bragging rights as the second-largest US sports betting market after New Jersey.
Further, alongside New Jersey, Illinois is the only other gambling-legal US State to collect more than $500 million from sports bets in April and May. New Jersey’s sports betting handle for April and May hit $748 million and $814 million, respectively, to record an 8.9% month-over-month jump.
The revenue generated from sports betting in the Prairie State also slid in May, coming to $36.2 million, about 17% less than the $43.6 million the state had recorded in April. In both months, the hold was 7.1%. As for taxes, the activity added a total of $5.9 million to the state coffers, which is significantly lower than April’s $7 million.
Tables Turn After Closure of Remote Registrations
Illinois’ sports betting performance has surprised a lot of industry analysts because, for one, April and May are offseason sports months in the USA. Secondly, the performance of the Prairie State’s sports betting sector has exceeded the expectations for many who spelled doom after the remote registrations window was closed by Gov. J.B. Pritzker on April 3rd.May was the first full month of the absence of remote registrations in the Prairie State, and predictably, it is also the lowest handle that the state recorded since December last year. In December 2020, the total volume of sports wagers missed the half a billion mark by a whisker after sports fans brought in a handle worth $492 million.
After the remote registration window was closed for good, the Prairie State’s sports betting handle has tumbled for the second month in a row. But then, the volume sports wagers has somehow managed to stay above $500 million, which begs the question of whether there’s still some fight left in the Prairie States sports betting market.
Jessica Welman, an analyst from the PlayUSA Network, voiced a few sentiments following the announcement of Illinois’ May performance saying:
Quote“It’s been a mild surprise that Illinois has managed to fare as well as it has through the first two months of what is typically the offseason for sports betting. In-person registration requirements will cap future growth. But the results in April and May do show just how active and engaged Illinois bettors have been.”
Illinois’ sports betting handles for January and February were $581.6 million and $509 million, respectively. As for March, the Prairie State smashed its records to see a total of $633 million in sports wagers, crossing the $600 million mark for the first time ever. March was the last full month of remote registrations, marking an end of remote signups since the state governor first allowed it on June 4th, 2020, as an emergency measure. Gov. Pritzker had seen an opportunity with March Madness and decided to extend the remote registrations window for one final month.
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