Illinois sees July sports betting handle slowdown
Illinois sportsbooks reported $369m in July handle, a 22.5% decrease from June and the state’s lowest in 10 months.
Illinois follows the national trend of a July sports betting slowdown, caused by a decrease in wagering opportunities during the summer.
Illinois bettors wagered $11.9m over the 31 days of July compared to $15.9m per day in June.
Gross gaming revenue was $37.3m, a 22.6% decrease from June. Revenue netted $6.1m in taxes for the state.
“Illinois sportsbooks will not be able to take full advantage of the customer acquisition phase that comes with the beginning of every football season, which is vital for the growth of the industry,” said Joe Boozell, lead analyst for PlayUSA Network. “Because in-person registration was reinstated in April at the beginning of the slow season in sports betting, the industry has skirted the most severe effects of the state rule. But there will be no hiding from it during football season.”
Baseball was the most wagered-on sport in July, accounting for $124m of bets. Illinois operators no doubt benefited from the strong play of the Chicago White Sox whereas their northern neighbors, the Chicago Cubs, have mailed it in for the season.
The 2020 Tokyo Olympics did not appeal to most bettors, according to Ramsey.
“With events held in the middle of the night in many cases and sports that are a bit unfamiliar to bettors, the Olympics did not appear to draw a lot of wagering,” Ramsey said. “In the end, the traditional team sports are still by far the largest draw for bettors, which is why football is so important for sportsbooks.”
DraftKings/Casino Queen led the market in handle with $123m, slightly beating out FanDuel with $118m. However, it was FanDuel who came out ahead in revenue with $15.5m compared to DraftKings’ $9.5m.
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