The Illinois Gaming Board has finally taken action on the sports betting application submitted by BetMGM. BetMGM first applied for this license all the way back in September 2020, but it was finally granted approval at an IGB meeting this month.
BetMGM will be entering the state of Illinois through a partnership with Boyd Gaming and the Par-A-Dice Casino. FanDuel was initially tethered to this sportsbook as the online partner, but it switched and began operating under Fairmount Race Track.
There are currently six online sportsbooks in the state of Illinois, including some of the biggest names in the industry. DraftKings and FanDuel have been battling for the top spot, but they are joined by BetRivers, Barstool, Caesars, and PointsBet.
DraftKings and FanDuel accounted for over 66 percent of the market share in November, but that should start to change once BetMGM goes live. These three companies have formed quite the battle in other states, including Michigan in the Midwest.
The Illinois Gaming Board has been slow to act on a number of issues relating to sports betting, but there was no reason given for this lengthy delay.
When Will BetMGM Launch?
The next big question that sports bettors will be asking is, “When will BetMGM launch in the state of Illinois?” An official launch date has not yet been set, but this sports betting app should be up and running before the start of March Madness.
Remote registration is set to return on March 5, and this seems like a logical target date for the launch of the BetMGM mobile app. The lack of mobile registration has made it hard for mobile apps to attract customers in the state in recent months.
Launching before the start of March Madness would provide a huge boost to BetMGM and could allow it to become one of the leaders in the first full month of wagering.
BetMGM Making Moves
BetMGM is still a relatively new name in the U.S. sports betting, but it hasn’t wasted much time in making a move. This operator just recently went live in the state of New York on January 18 and is also live in Louisiana is well.
A March launch in Illinois would be the third new market for BetMGM to begin 2022 and could set it up for a monster year. BetMGM is now available in 15 different states across the country and was the second-largest online sports and casino wagering app in the U.S. from August through November.
Can Illinois Hit $1 Billion?
Illinois is one of the largest sports betting markets in the country, as the total betting handle jumped all the way up to $779.8 million in November 2021. That put Illinois in the number three spot, and they have consistently been in the top five since the middle of 2020.
The next major goal for Illinois is to get to the $1 billion mark, and March 2021 could be when that occurs. Allowing mobile registration again will help Illinois sportsbooks, and adding BetMGM to the mix is a huge boost for the state.