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The long-awaited sports betting numbers for March in Illinois bring the national record to a new record

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the long awaited sports betting numbers for march in illinois bring

The long-awaited sports betting numbers for March in Illinois bring the national record to a new record

The sun rises behind the Chicago skyline. Scott Olson / Getty Images / AFP

The state of Illinois has finally released its legal sports betting numbers for the month of March, and it’s not surprising that they set another record high for the state, getting them just $ 7 million less than leaps and bounds for sports betting grandfather Nevada in second place Place on the list of friendly states.

March Madness obviously helped the grip, just as it did in the rest of the country. Overall, according to the Illinois report, the US handle set another monthly record, topping $ 4 billion for the third month in a row. In March, a record $ 4.633 billion was spent on sports betting in the United States.

With the March Transportation in Illinois they joined Nevada, New Jersey, Pennsylvania, and Indiana as the only states in the nation to surpass the lifelong $ 3 billion worth.

It’s not all good news for Illinois, however. Remote registration for the robust mobile betting platform ended in March. All eyes will be on the state to see how just personal sign-up requirements will affect the state’s legal bottom line on sports betting.

“The growth over the past year has been staggering, making Illinois the fastest $ 3 billion in US history,” said Jessica Welman, analyst at PlayIllinois. “The question now is what will happen if the brakes are applied on this growth. Does it alert lawmakers enough to make a change? Or will Illinois be content with where the sports betting market has been frozen? “

Getting into the numbers

Sports betting was $ 633.6 million, up 24.3% from $ 509.8 million in February, according to the Illinois Gaming Board. The March grip is a record for the state, surpassing the previous high of $ 581.5 million as of January 2021.

Sports betting income for the state also increased significantly in March. Sportsbooks achieved a record $ 44.3 million. This is an increase of 25.2 percent over February earnings of $ 35.4 million. State and local tax funds benefited from $ 7.2 million in profits, up 22.3% from $ 5.9 million in February.

There’s no denying what the driver was for the Illinois record in March – basketball and the NCAA basketball tournament. This despite the fact that Illinois residents are unable to bet on their home teams. $ 365.7 million of the $ 633 million grip came from basketball with strong support from March Madness. Tennis contributed $ 47.2 million, hockey $ 32.8 million, soccer $ 29.1 million, and golf $ 10.5 million.

The mobile puzzle

The Illinois mobile betting scene continues to be the main driver of the state’s sports betting handles. But … things will change soon. Illinois reverted to a personal mobile app login process on April 2 after COVID-enforced Executive Order 2020-41 temporarily allowed remote registration.

The Illinois mobile scene had unprecedented success in the ten months of remote registration, but could take a step back with the return of a personal login method that has hampered states like Nevada.

Mobile apps accounted for $ 609 million of the $ 633.6 million March handle in Illinois, representing more than 96% of the total handle. Mobile revenue is up 24.2% from $ 490.2 million in February. Retail bets rose 25.4% in March, accounting for $ 24.6 million of all Illinois March business.

Illinois standing

In March, Illinois held its own as the country’s third-best sports betting jurisdiction, just $ 7 million away from second place in Nevada. However, their standing in the US legal sports betting scene has been jeopardized with news that they are ending their remote registration for betting apps. Hopes are the return of the retail side of the business, and OTBs can make up some of the slack.

“March Madness helped deliver a huge month for Illinois, but March is essentially a ‘final hurray’ for the state’s rapid growth,” said Joe Boozell, analyst at PlayIllinois.com. “Illinois will still be one of the largest US markets because of the state’s population, but it will be difficult to maintain its current number 3 status, let alone catch Nevada. No matter how attractive a market is, there is no easy way to overcome the inconvenience of registering in person. “

It took Illinois some time to cross the $ 600 million mark and it may take a while for them to get close to that mark again. All eyes will be on the legal sports betting scene in Illinois to see if a partially self-inflicted slump in remote betting registration actually comes to fruition.

Source * www.sportsbookreview.com – * Source link