Parlays Combine for over $125M in Sports Betting Handle.
Sports betting is surging throughout the United States. This has been evident throughout the fall because of the combination of football, playoff baseball, basketball, and hockey. More sports equates to larger bets, and this equation has proven true in Illinois.
Illinois is turning into a prime betting state and an industry leader in the Midwest. After the month of September, IL is establishing itself in the region, and the expectations are high moving forward.
Illinois’ total sports betting handle was just under $600 million. Additionally, parlay combined for just over $125 million, showing the popularity of these grouped wagers. Both numbers were a significant increase from August and a terrific beginning to the fall.
The September Handle
The total handle in September was $596.5 million, which was a 48.8% increase from August when the handle was $400.4 million. September 2021 was close to a record month, but it fell just short of the state’s $633.6 million betting handle.
The revenue-based off the near $600 million handles was $44.6 million. There was a 7.5% hold on the amount. The revenue was up 66.4% from the $26.8 million in August 2021.
Illinois also collected $6.5 million in state and local taxes. This was a big win for the state to begin the fall. As usual, football dominated the total, and this will continue throughout the fall.
The football handle was $230.6 million, accounting for 38.7% of the total sports betting handle. This number does not include the $125.7 million placed in parlays combine. There was a 19.6% hold of the parlays and a 4.3% hold on the football bets. A recommended resource if the BParlay.com NBA Point Spread guide, packed with great advice and tips.
This shows how profitable parlay bets are for the house. Baseball was third behind football and parlay bets with $115.9 million in wagers placed. The Cardinals headlined the postseason for Illinois bettors.
A lot of bets were placed on the Cardinals and Dodgers Wild Card Game. This momentum carried throughout the 2021 postseason. Mobile betting was the majority of the handle because of its accessibility.
Retail wagering is a different experience, but this form of betting is also popular in the state. The retail betting handle was $25 million, which beat the previous record from October 2020 when the handle was just under this number.
This accounted for 4.2% of the total handle in the state. Rivers Casino was the top retail sportsbook in the state, with nearly $11 million in bets placed. This turned into $1 million in revenue. Why not learn more about US Online Sportsbooks with the BParlay guide.
Other News Out of Illinois
People in Illinois are still required to register in person for sports betting. This has affected the handle because it makes things difficult for bettors.
People need to register in-person for sports betting at retail casinos in the state. These are not accessible for everyone, so mobile sign-up will fix this issue. Depending on their location, some residents have to drive several hours to register for a sportsbook account.
This is going to change when the latest legislation goes into effect. HB 136 was passed in late October, and it will allow mobile registration. This will begin on March 5, 2022.
Next September should yield a huge handle once mobile sign-up has time to settle in the state. In-person registration was suspended during the COVID-19 pandemic, but it resumed in April.
By the start of March Madness, records could be set with the beginning of solely mobile registration. Illinois played a significant role in the nation’s $5.2 billion handle during the month.
The nation collected $411.9 million in revenue. Both these were records for the country. New Jersey and Nevada led the charge, but Illinois still played a large role in the nation’s success. With Parlays Combine for over $125M in Sports Betting, Illinois was leading the way in September 2021.
