Wagering at Illinois' sportsbooks increased to almost $1bn for the month of March, setting a new state handle record

Wagering at Illinois' sportsbooks increased to almost $1bn for the month of March, scene a new country palm record. The amount was inward parting raised by NCAA Tournament betting, as considerably as the removal of in the flesh(p) registration.

As Jake Garza, PlayIllinois Analyst, explained: “March Madness and the remotion of in the flesh(p) enrolment proven a powerful combination. This is what a less-restrained securities industry inwards IL looks like.”

In March, Sportsbooks took $971.3m inward wagers, which is upwardly 53% from $633.6m inwards Mar last-place year. The tot up was boosted past $278.4m inward betting on the NCAA Men’s Basketball Tournament.

Sportsbooks took $79.4m inward receipts revenue from March’s bets, which is upward 59.2% from the $49.9m inward Mar 2021. It’s also increased past 155.6% from the $31.1m achieved inward February. The previous enter stood at $78.2m from November 2021. This modish amount generated $9.8m inward res publica and local taxes.

March was the first off month of betting following the removal of in the flesh(p) registration rules for online betting. This modify means bettors no more yearner need to registry at a retail sportsbook.

“Even with the inevitable seasonal lag that begins inward April, the state’s sports betting industry should preserve to work a substantial pitching forrad compared with cobbler's last year,” said Eric Ramsey, PlayUSA Network Analyst.

“It would non live too surprising if Land of Lincoln became the second-largest market inward the US by the starting time of football game season.”

During March, 96% of all wagers came from online betting which equals $927.5m. FanDuel led all operators with $315.3m inwards online and retail wagers; DraftKings came inwards second set with $289.2m in combined handles.

Basketball alone, including both the men’s and women’s NCAA tournaments, as well as the NBA drew in $554.3m inward straight wagers for March. Aside from parlay betting, lawn tennis was the next to the highest degree popular, with $64m in wagers.

Garza added: “Without football game or college basketball to spur stake inwards the coming months, March testament be the last-place Brobdingnagian month until football game season. But the NBA playoffs, baseball, and major golf game tournaments testament maintain bettors interested, even if we experience to hold off until September for the state’s world-class $1bn month.”