Illinois is a bit late compared to other states in releasing their sports betting report, but the information is still important, especially to those considering becoming a bookie. Market trends will help bookies anticipate what will happen to the industry throughout the year, so looking at these reports will definitely be helpful. And just like other states across the country, the Illinois sports betting activity is feeling the summer slump with a lower monthly handle in July.
According to the Illinois Gaming Board, the total online sports betting handle for July is at $516.4 million. This is 17.8% lower than June. It is also the lowest monthly handle the state has recorded since August 2021. Again, this is consistent with markets across the country, since summer is generally a slow season with less sports events in the calendar. For those wondering how long does it take to open a sportsbook, its actually pretty quick. And there is no better time to start a sportsbook than now, as the numbers are expected to pick up soon.
Illinois Sports Betting Activity
In July, there was no NFL, no NBA, no college football and basketball, no Hockey. If you check horse racing news, there were fewer races as well. But since we are going to see college football games towards the end of August, and preseason NFL wagering as well, the report next month could be better.
In addition, this year’s NFL season could also attract new sports bettors in the state. The previous requirement for in-person registration for sports betting is now gone, so anyone can sign up for an online sportsbook without needing to visit a sportsbook first.
It is also worth noting that sportsbooks across Illinois have a $46.1 million revenue this July, with a 8.9% hold. This is still better than June’s $40.9 million. So even though there were less events to offer betting lines on, sportsbooks still managed to earn better than the previous month.
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