Illinois Records 2nd Highest Sports Betting Handle for April
Sports betting in the United States always declines in April. March Madness is the most wagered sporting event in the country, so it draws massive handles throughout the nation. Illinois was expected to have a down month in April following a record number in March and the end of remote sports wagering registration.
Illinois’ sports betting handle did drop significantly. However, the state still posted the second-highest handle in the country for April. This proves that there is a strong desire to bet a variety of sports during the year.
The April Handle
In April, the Illinois sports betting handle was $537.2 million, which declined 15.2% from the $633.6 total in March. The IL Gaming Board posted the results on Wednesday, making the state’s handle second in America for the month.
The most popular way to bet in Illinois was through online sportsbooks. Governor Pritzker’s in-person registration mandate did not stop people from betting from their phones. The mobile handle was $513. 2 million, and the retail total was $23.9 million. Both dropped, but the distribution of the two was like a typical month.
The sports betting handle for the country was $3.7 billion in April, which was 20% lower than the $4.6 billion that was posted in March. April also marked the first time that the nation had not broken a $4 billion handle since December.
New Jersey led the charge for handle throughout the month, with $747.9 million in bets placed. Illinois did better than Pennsylvania ($479.4 mil) and Nevada ($457.8 mil), which is a massive achievement.
Sports wagering revenue did not drop in Illinois by a significant amount. Revenue matters more than handle because that is how the state collects its taxes. The revenue was $43.6 million, which declined 1.6% from the $44 million in March.
The state earned $7.1 million in tax revenue, which was $100,000 less than the month before. When you view these numbers, it’s hard to understand why every state in the United States has not legalized wagering.
A down month for IL still gave the legislature an additional $7.1 million in revenue. Throughout the United States, revenue dropped 17.6% from $310.9 million to $256.1 million.
News Around the Illinois Betting industry
IL legislators are trying to get a bill passed that would allow people in the state to bet on local college teams. On June 1, there was an amendment proposed that would enable tier 1 wagers to be placed on in-state college teams at IL retail sportsbooks.
The bill passed with ease in the House by a 96-11 vote. Although, it must pass in the Senate before it’s approved by Governor Pritzker. If the amendment goes into effect, the wagering law would be established on a trial basis.
It would run through July 1, 2023, and at that time legislature could keep, alter, or dismiss the amendment. If this were passed, it would help DraftKings Sportsbook at Casino Queen.
The casino and DraftKings are constructing a $10 million renovation to the current property. Since local college sports betting would only be allowed at retail books, Casino Queen would add additional traffic.