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Illinois Sees $140M from Sports Betting Handle in August

The sports betting industry in Illinois got off to a very shaky start, but things have started to turn around in a hurry. The total sports betting handle during August was $140 million.

The $140 million was a 166.7% jump from the $52.5 million brought in during July. The state was expected to see a huge increase month-over-month, but the jump was much larger than expected.

Mobile wagering made up almost 89% of the total sports betting handle in August, which has been the trend throughout the United States. Mobile handle increased by more than 155% from July to August, while retail sports betting handle jumped by more than 300%.

Casinos have started to reopen throughout Illinois, which allowed more sports betting to take place at retail sportsbooks. The extended mobile registration period has allowed mobile sportsbooks to see a considerable increase in the amount of wagers. 

Adjusted gross revenue was also up from July, and the state could also see a huge boost in taxes. Adjusted gross revenue was $7.2 million during August, and the state was able to bank $1.2 million in taxes.

More than 99% of all the bets placed were on professional sports in August, which followed a similar trend from July. 

Illinois Competitive With Indiana

There have been six states that have announced August sports betting numbers, and Illinois currently sits in fifth place. That’s not surprising for an industry just getting started, but Illinois has already closed the gap on Indiana.

Indiana brought in $169 million during August, which was a 138 percent increase from July. The battle for fourth place might be tight, but there are three clear leaders at the top of the industry.

New Jersey has emerged as the clear leader in the sports betting industry, and the state set a new record in the month. Sports betting revenue in New Jersey was $668 million, which easily shattered the record previously set in Nevada.

Nevada ($475 million) and Pennsylvania ($365 million) were second and third on the list during August, and that has been the case for much of 2020. Colorado is currently sixth on the list, but that state is expected to become one of the leaders at some point in 2021. 

Five Sportsbooks Now Up and Running

The September numbers likely won’t be available until early November, but the state is expected to see another huge jump. The start of the 2020 NFL regular season will bring a massive boost to the industry, as well as more sportsbooks for Illinois bettors to choose from.

With BetRivers, DraftKings, and FanDuel already dominating the industry in August, the competition heated up even more when two more operators launched a mobile app.

PointsBet entered the Illinois market on September 12, and William Hill went live on September 16. Both operators are big names in the sports betting industry and will help grow the revenue and betting handle in the Land of Lincoln.

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