Illinois Breaks Sports Betting Revenue and Handle Records in January

Illinois’s sports betting handle reached a record $ 581.6m in January, while the US state also saw revenue reach an all-time high of $ 49.4m during the month.

Revenue in January amounted to $ 49.4m, more than double the $ 23.9m posted in December last year, though the previous month’s figures were impacted by the temporary closure of casinos due to novel coronavirus (Covid-19) measures.

Online wagering accounted for $ 47.1m of total revenue for the month, whereas retail sportsbooks only contributed $ 860,392 in revenue.

In terms of operators, the Par-A-Dice Gaming Corporation, which runs a FanDuel sportsbook, led the market with $ 16.8m in revenue.

Casino Queen and DraftKings ranked second with $ 15.6m in revenue, ahead of Midwest Gaming & Entertainment and Rush Street Interactive on $ 10.8m.

Operators paid a total of $ 7.7m in tax during January, with the majority of this ($ 7.2) based on the state’s base 15% tax rate, and the remaining $ 479,052 from an additional 2% tax on bets placed in Cook County, which includes Chicago.

Looking at the state’s handle, players spent $ 575.2m betting on sports via online platforms in January, while just $ 9.4m was bet at land-based sportsbooks across Illinois.

Consumers wagered a total of $ 441.1m on professional sports during the month, while $ 140.4m was spent on collegiate sports events. The remaining $ 13,383 was attributed to bets on motor racing.

Basketball was the most popular sport to bet on in January, attracting $ 230.0m in bets.

The National Football League play-offs also took place in January, helping bring in $ 159.0m in wagers on football, while parlay betting accounted for $ 109.2m in bets.

The post Illinois Breaks Sports Betting Revenue and Handle Records in January appeared first on FortuneZ.

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