Illinois Sportsbooks See Betting Revenue Plunge In December

Feb 4, 2022 · Sportsbooks in Illinois endured a tough December when bettors clawed back some of their winnings from a rough November, as revenue was more than halved to nearly $33.7 …

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Illinois Sportsbooks See Betting Revenue Plunge In December

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Feb 4, 2022 · Sportsbooks in Illinois endured a tough December when bettors clawed back some of their winnings from a rough November, as revenue was more than halved to nearly $33.7 …

sportshandle.com

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Illinois Betting Revenue Drops Despite Record Handle In December

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Feb 17, 2021 · Illinois sports bettors set another new record for handle in December at $491.7m, up 9.0% from the prior month despite almost no retail activity, but revenue plummeted 41.3% …

igamingbusiness.com

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Illinois Sportsbooks See Betting Revenue Plunge In December

4 weeks from now

Sportsbooks in Illinois endured a tough December when bettors clawed back some of their winnings from a rough November, as revenue was more than halved to nearly $33.7 million, …

cdcgaming.com

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Revenue Plummets In Illinois Despite Record Sports Betting …

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Dec 17, 2024 · A monumental sports betting handle in October led to a 24.5% year-over-year increase and a new record for the amount wagered in the Land of Lincoln. The Illinois Gaming …

covers.com

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Illinois Sports Betting Year In Review - Covers.com

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6 days ago · The Illinois sports betting tax rate will increase massively in 2025 based on legislation approved in 2024, from 15% to 20% to 40%, depending on sportsbook revenue.

covers.com

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December Sees Nearly $800M In Sports Bets - Alton Telegraph

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ALTON — Illinois sportsbooks finished the year with nearly $800 million in wagering and...

thetelegraph.com

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Illinois Sportsbooks Nearly Reach $500 Million In December

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"The state is still very much ramping up, but there is no question that Illinois will be an increasing force in the industry." Football betting topped all sports with $204.4 million, or 41.6% of the …

casinocitytimes.com

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Illinois Sportsbooks See Betting Revenue Plunge In December

4 weeks from now

Feb 5, 2022 · Sportsbooks in Illinois endured a tough December when bettors clawed back some of their winnings from a rough November, as revenue was more than halved to nearly $33.7 …

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Illinois Lawmakers Could Add Internet Gambling To State's Bevy Of ...

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14 hours ago · Illinois government relied on a record-high $2.1 billion in gaming tax revenue in the fiscal year ending in June, including $158 million from casinos, $190 million from sports …

wbez.org

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Illinoisans Expected To Bet $300 Million On Holiday Football

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Dec 29, 2023 · Illinois is the second-largest sports betting market in the nation. Illinoisans will have wagered more than $300 million on football in December, based on wagering data since …

illinoispolicy.org

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Online Only December Sports Betting Was A Big Hit In Illinois

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Feb 17, 2021 · The Prairie State also saw just under $23.9 million in sports betting revenue to the sportsbooks, with $3.6 million collected in state tax. DraftKings continues to be the favored …

legalsportsbetting.com

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Illinois Sportsbooks See $491.7 Million In Wagers In December

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Feb 16, 2021 · Illinois sportsbooks recorded $491.7 million worth of bets in December 2020, setting yet another monthly record for the state.

playillinois.com

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Illinois Sports Betting Wins Again With $490 Million Wagered In …

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Feb 17, 2021 · The state continues to grow its sports betting industry between seven casinos offering sports betting and Hawthorne Race Course in Stickney. Illinois was able to post the …

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FAQs about Illinois Sportsbooks See Betting Revenue Plunge In December Coupon?

Why has sports betting revenue soared?

Sports betting revenue has surged due to the legalization of sports betting in additional states, the rise of online betting platforms, and the robust sports culture in the U.S. Seasonal events like the Super Bowl and March Madness, among other drivers, further contribute to spikes in sports betting revenue. ...

How much money will sports betting generate by 2024?

According to a recent report from Statista, the sports betting industry is on track to generate $14.30 billion in revenue by 2024. This figure represents record growth in both gross and total sports betting revenue, highlighting the increasing popularity of gaming and the expansion of legal sports betting markets. ...

Does sports betting contribute to the US economy?

According to the AGA, sports betting significantly contributes to the US economy. An in-depth look at the annual growth of the U.S. sports betting market, tracking its year-over-year expansion since 2018. Monthly trends in U.S. sports betting: tracking handle, gross gaming revenue, hold rate, and tax contributions. ...

Why is online sports betting so popular in 2024?

As of October 2024, 91% of Americans owned a smartphone, so it is natural that online sports betting would continue to be responsible for much of the betting revenue. High-stakes seasons like college football, the NFL, and MLB drive revenue spikes in the sports betting industry. ...

How much money does a sportsbook collect from bettors?

The sportsbook collected no money from bettors for these wagers, but paid out bettors’ winning picks. Deducting the $45 in promotional wagers decreases NGR to $55 for the sportsbook. A tax based on NGR brings in less revenue in this scenario. The 10 percent NGR tax, 5.5 percent GGR tax, and 0.25 percent handle tax would all generate $5.50. ...

How much money did New York raise from sports betting?

In fiscal year 2023, New York raised more than $800 million in tax revenue from sports betting, 43.2 percent of nationwide sports betting state tax collections. Table 3 shows the handle, GGR, hold, and tax collections from all states that reported legal sports gaming revenues in fiscal year 2023. ...