Illinois Sports Betting Handle Reaches $450 Million

CABETS: Tennessee Sets a New Record in the Monthly Handle and Revenue in December as the November Highs Were Short-Lived

Illinois sports betting launched at the beginning of March 2020, and the state has already gone over the $450 million mark for monthly sports betting handle. The traditional handle in Illinois during the month of November was $451 million, easily setting a new state record.

The Illinois Gaming Board finally released the November figures earlier this week, while other states have already started reporting their December figures. In October, Illinois had $434.6 million in handle, and each month continues to bring in more action.

Sports betting revenue actually dropped a bit during the month of November, but it was still a significant amount. Revenue totaled $41 million during November after it was just over $42 million in October.

The Illinois sports betting market got off to an extremely slow start due to COVID-19, but that market is now taking off. There are still limited sports betting options in the state, but some of the biggest names in the industry have already launched.

Football, especially the NFL, was the most popular betting market in Illinois during November.

Remote Registration Continues

Remote registration will still be in place in the state of Illinois until at least Feb. 6. Governor JB Pritzker could once again extend the remote registration period on that date, something that has been done several times since his first Executive Order was issued in June.

With retail sportsbooks shut down due to COVID-19, Pritzker was looking to jump-start the industry by allowing remote registration. Current Illinois sports betting law requires in-person registration through 2021, at least, but lawmakers could make a permanent change during the current legislative session.

More Sportsbooks Coming

Illinois has not had a new online sportsbook launch since September, when both PointsBet and William Hill joined the market. It is unclear when the next sportsbook will officially launch, but it is expected to be sometime soon.

Unibet has already submitted an application to offer sports betting in Illinois and is just waiting for official approval from the Illinois Gaming Board. Unibet is one of the biggest international online sportsbooks and will provide a huge boost in the state.

Barstool Sportsbook is also expected to launch at some point before the 2021 NCAA Basketball Tournament. Barstool is a very popular option in Pennsylvania and Michigan.

US Closing in on $3.5 Billion

With the huge November totals from Illinois, the entire US sports betting industry nearly eclipsed the $3.5 billion mark in total handle. It was the second straight month that handle went over $3 billion, and it signals a huge year coming in 2021.

Illinois is now the fourth-largest sports betting market in the United States, but it is quickly climbing up the ranks. New Jersey, Nevada, and Pennsylvania remain in the top three spots, but this battle will heat up in the next 12 months.

New Jersey continues to set new records, nearly going over $1 billion in betting handle for the month of December.