Press Releases
PlayIllinois.com: Sportsbooks suffer first month-over-month decline, but gain ground on nation’s top markets
Illinois sportsbooks posted a month-over-month decline in betting volume for the first time since launching in late July, continuing what was a national trend in February. But the state still managed to narrowly surpass Pennsylvania to place third among U.S. states for the month. More concerning for what has been a booming industry in Illinois, though, is the return of in-person registration, which could stymie online sports betting growth for as long as it is in place, according to PlayIllinois, which provides news and analysis of the state’s gaming industry.
“Passing Pennsylvania should be momentous but it is almost certainly going to be short-lived, as the decision to return to in-person registration will likely mean the end of growth for the Illinois sports betting industry,” said Jessica Welman, analyst for PlayIllinois.com. “Open registration has been a key component in making Illinois one of the largest sports betting markets in the country. Forcing people to physically appear in a retail sportsbook is a counterproductive measure, which should be apparent whenever Illinois April data is released.”
With open registration still in place in February, Illinois retail and online sportsbooks attracted $509.8 million in wagers, according to official data released Friday. That is down 12.3% from the record $581.6 million in January, an expected dip with fewer days during the month and only one NFL game to bet. That game, the Super Bowl, drew $45.6 million in bets, though some of those bets were accepted prior to February.
Bettors placed $18.2 million per day in the 28 days of February, which was down slightly from $18.8 million per day in January. Illinois’ relatively modest pullback made it the third-largest U.S. market in terms of money wagered, gaining ground on leaders New Jersey ($743 million) and Nevada ($554.1 million), while topping Pennsylvania ($509.5 million) for the first time.
February’s handle also produced $30.3 million in operator revenue, down 38.7% from the record $49.4 million in January. But the month’s win produced $35.4 million in taxable revenue, which yielded $5.3 million in taxes for the state and another $541,832 in local taxes.
“February’s results in Illinois actually compare well to the other major markets in the U.S., showing that the state had yet to reach its ceiling,” said Joe Boozell, analyst for PlayIllinois.com. “Even with the return of in-person registration, operators have set a good foundation of bettors that will sustain the industry, even as the rules stunt the market’s growth.”
For the first time in months, retail sportsbooks were open for a full month, attracting $19.6 million in bets. But online betting still drove 96.2%, or $490.2 million, of the state’s handle. That is down from 98.9%, or $575.2 million, in online betting in January.
DraftKings/Casino Queen remained the market leader by accepting $199.8 million in online and retail wagers in February, which was down from the operator’s $244.2 million handle in January but still represented 39.2% of the state’s total handle. $196.5 million of February’s bets came online.
FanDuel/Par-A-Dice Casino was second with its $158.9 million handle, $158.4 million of which came online. The operator’s overall handle was down from $173.5 million in January. BetRivers/Rivers Casino was third with $86.9 million in online betting and $96.4 million overall, down from $112.7 million in January.
The market has also gotten more competitive, most notably from the March 11 launch of Penn National’s Barstool-branded app, which is partnering with Hollywood Casinos. But Barstool’s launch came just weeks before the end of open registration, hamstringing what has been a popular operator in both Pennsylvania and Michigan.
“Barstool had just three weeks to build a customer base in an open environment, which should put it at a permanent disadvantage against the market leaders,” Welman said. “That said, their brand is popular and should draw significant interest, helping to grow the market. It could be the last hurrah, of sorts, as new operators might be deterred by in-person registration.”
In February, Super Bowl betting drove more action than any other single event, of course. But the NBA and college basketball continued to be a popular bet, drawing $256.7 million, or 50.4% of the state’s total handle, even as college basketball betting is slowed by the ban on wagers on in-state college teams. And bettors placed $45.3 million on tennis, a surprising surge for what is a fringe betting sport in much of the U.S.
“Illinois has grown in ways that are typical of most major markets, with an overwhelming preference for major U.S. sports and driven less by single events,” Boozell said. “But tennis’ popularity shows that the state is unique in some ways, too. We will now see how operators adapt to the state’s regulatory decisions, which have created challenges that sportsbooks will have to overcome to grow in the future.”
For more information and analysis on regulated sports betting in Illinois, visit PlayIllinois.com/news.
Latest News
MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS
Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs. This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.
Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.
The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.
“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”
“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.
Financial reports
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.
Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.
Looking at each sector in Q3 2024:
- Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
- Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
- iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.
“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”
Latest News
BGaming pens Brazilian multi-brand agreement with Cometa Gaming
Popular iGaming content provider BGaming has solidified its market position in Brazil by securing an aggregation deal with Cometa Gaming.
Cometa Gaming is an online casino and sportsbook aggregator with several brands in Brazilian market, all in the regulatory process. The group handpicks the best slot studios in the industry to meet the high standards of its passionate players.
BGaming has initially launched its entire portfolio with Cometa Gaming’s iGaming and sports betting brand Br4bet, including popular titles such as Fruit Million, Burning Chilli X and Space XY. The provider will continue to roll out its games across several of the platform’s other brands over the coming months.
This latest partnership demonstrates BGaming’s growing demand in LatAm ahead of the Brazil’s regulated market launching in January, where it remains committed to delivering a safe, fair and entertaining experience for players.
Gian Carlo Ferrini, Sales Manager at BGaming, said: “Partnering with Cometa Gaming is a major move for BGaming, enabling us to broaden the reach of our award-winning content to LatAm players across its multiple brands. So far, we have enjoyed early success with Br4bet and look forward to launching with Cometa Gaming’s other casino sites in the future.”
Thomaz Campos, COO at Cometa Gaming, said: “BGaming continues to break new ground in Brazil and we are delighted to have them live on Br4bet. Their games will help us achieve our goal of delivering the most appealing and forward-thinking content to players, as we both work towards a shared commitment to excellence.”
BGaming is a fast-growing iGaming content provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 1,600+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 150+ products with HD graphics and a clear user interface for every device. The studio is also known for its brand exclusives created in partnerships with leading operators in the industry.
-
Latest News7 days ago
Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)
-
Latest News3 days ago
Full House Resorts Announces New Leadership for Rising Star Casino Resort
-
partnerships7 days ago
Tin Lizzie Gaming Resort Partners with Quick Custom Intelligence for Next-Level Gaming Experience
-
Latest News3 days ago
Arizona Department of Gaming Investigation into Illegal Gambling Leads to Record-Breaking Firearms Seizure
-
Latest News7 days ago
Evolution Group Announces Partnership Extension with FanDuel Casino
-
eSports4 days ago
Influencers, Content and eSports: Unleashing the Power of Dynamic Strategies in the eSports Ecosystem
-
Latest News7 days ago
EVERI STOCKHOLDERS APPROVE ACQUISITION BY APOLLO FUNDS
-
Compliance Updates7 days ago
Massachusetts Gaming Commission Launches Official Seal of Approval