While there’s been an increase in gambling revenue in the United States, Illinois hit a record $581.5 million in January 2021.
Gambling operators managed to bag $49.4 million in revenue for an approximate 8.5 percent hold. Illinois was able to collect up to $7.2 million in taxes, according to a report.
The state has been fairing on we’ll, recording $481.7 in stakes up from December and $23.9 million in proceeds.
Illinois is now the fourth state to pass the $500 million in bets in the same month. The state is now holding the fourth spot in state handle after Pennsylvania, Nevada, and New Jersey.
Pennsylvania finished with $615.3 in bets, securing the third spot. Nevada came second with $4.3 billion, while New Jersey was the new king with a whopping $6 billion in their handle.
Betting operators in Illinois reported an 8.24 percent win rate, generating nearly $48 million in proceeds more than December’s $23.9 million. Illinois’ state coffers managed to collect up to $7.2 million while Cook county only managed $480,000.
Illinois was the last state to avail its revenue, breaking a record in the national sports betting industry. Among the other 18 states, more than $4.36 billion stakes in January.
Betting operators bagged up to $361 million in returns to start things in 2021. The Illinois state government managed to gather more than $54.3 million in levies from the proceeds.
DraftKings is the Better Mobile Option for Punters in Illinois
Sure, Barstool will be launching its first mobile sportsbook in Illinois since last September, but Draftkings is still preferred by the majority of punters who use their smartphones to bet.
DraftKings came top with $244.2 million in bets – which is equivalent to 42 percent. FanDuel and BetRivers came close with 30 and 19 percent in state handle.
And while DraftKings is still the most preferred for mobile betting, Fanuel generated more revenue – $16.9 million against $16.4 million for DraftKings.
William Hill and PointsBet didn’t do badly either – William Hill with two percent in-state handle while PointsBet with seven percent. This was a 26 percent increase in handle compared to December. On the other hand, William Hill was happy to maintain a double-digit percentage, recording $8.8 in accepted stakes.
FanDuel Secure the Monthly Revenue Top Honors
The largest mobile operators contributed most of the revenues collected. FanDuel overtook DraftKings to clinch the top spot with $16.7, DraftKings managing to secure $16.4.
This time around, BetRivers hit eight figures, generating more than $10.1 million. PointsBet also had a good month, generating approximately $4.2 million in proceeds. William might not have done poorly either – with $500,000 in earnings; football and basketball contributing the largest portion of that revenue – 97 percent.
Parlays managed to secure about $19 million in revenue from the $110 million staked by punters. This translates to a 17.29 percent win rate for the company and twice the all-inclusive percentage. Fanuel collected $9.2 million of the total in $50.3 wagered.
Basketball and football are the most popular sports punters are staking heavily, with basketball generating $14.3 million and $11.2 million in revenue, respectively. Besides, the two categories – basketball and football emerged top for handle – basketball generating $230 while football $158.3 million.
