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Through July, Illinois sports betting fell to its lowest level in ten months, as analysts warn that in-person registration rules could stymie a potential NFL uptick seen in other states.
In July, bettors placed $369.1 million in wagers at Illinois’ retail and online sportsbooks, down 22.5 percent from $476.5 million in June.
A day-by-day basis
On a day-by-day basis, betting volume declined to $11.9 million in July, down from $15.9 million in June. Handle was up 603% from $52.5 million in July 2020.
From $48.2 million in June, gross gaming revenue plummeted 22.6 percent to $37.3 million. This resulted in $37.6 million in adjusted gross revenue and $6.1 million in taxes.
In the United States, July is traditionally the slowest betting month of the year, with 2018 reaching the lowest point in betting, followed by 2019 and now 2021. Despite the decline, Illinois ranked third in terms of wagering volume, after only New Jersey ($578.7 million) and Nevada ($409.9 million).
Customer acquisition phase
Joe Boozell, lead analyst for PlayIllinois said: “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.
“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.”
Online bets accounted for $351.4 million in July, accounting for 95.2 percent of all wagers. With $122.7 million in total online and retail handle, including $120.5 million online, DraftKings/Casino Queen once again dominated the segment. DraftKings made a total of $9.5 million in gross gaming revenue.
FanDuel took in $118.5 million in online and retail wagers, with $118 million coming from online, for a market-leading $15.5 million in gross gaming income.
“FanDuel continues to wring out an impressive amount of revenue from the bets it takes in,” Boozell added. “DraftKings answered with same game parlays, which could help bridge the revenue gap with FanDuel.
“That fierce competition between the two market leaders will only grow during football season, with younger operators limited in their ability to make significant gains on the leaders with in-person registration in place.”