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Betting.net / Illinois records more than $1 billion wagered on sports in October

Illinois records more than $1 billion wagered on sports in October

Publish Date: December 11, 2022
Fact checked by: Jesse M Cox
Illinois House of Representatives, tags: $1 billion sports - CC BY-SA

Illinois House of Representatives – CC BY-SA

In October, sports betting customers in Illinois gambled more than $1 billion on sports, making it the most successful month for the industry in the state since it was legalized, making Illinois one of the most prominent sports betting markets in the nation.

During a monthly meeting of the Illinois Gaming Board, Marcus Fruchter, the agency’s administrator, said that the state’s casino sportsbooks brought in more than $102 million in revenue last month.

The earnings from the casino sportsbooks contributed about $15 million to the state’s treasury and $1 million to the Cook County government.

Since the sports betting industry was launched in Illinois just before the start of the COVID-19 pandemic in March 2020, the state has seen almost $17 billion in bets. The 12 sportsbooks in the state have brought in over $1.3 billion in revenue.

The figures released by the gaming board indicated that the sports betting industry was boosted by the first full month of the NFL season. Football generated over $350 million for the state. Other sports, such as basketball ($114 million) and tennis ($85 million), were also popular among Illinoisans.

According to Dave Briggs, an analyst for PlayIllinois.com, the record-breaking month was attributed to the sports betting industry’s success in Illinois. He noted that the opening of the NBA and the NHL’s regular seasons also contributed to the industry’s success.

Officials and industry insiders are hoping that the sports betting industry will continue to grow in Illinois due to the expected construction of new stadiums in the state. They also anticipate the state’s approval of online-only sports betting licenses. Currently, the sports betting apps commonly used in the state are only partnered with a brick-and-mortar casino or a track.

However, critics of the sports betting industry noted that the industry’s success has increased gambling addiction. The number of calls to the state’s gambling addiction hotline has more than doubled since the industry was launched in Illinois.

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