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Even though numbers were slightly down, Illinois sports betting
totaled nearly $1.3 billion and trailed only New York and New
Jersey. Illinois filled its coffers with nearly $20.3 million in
tax revenue while Cook County received $1.36 million.
Lou Monaco, analyst with IllinoisBet.com, said after the college
basketball championship this weekend, not much action will be
going on for several months.
“The Masters starts that following Thursday and right after that
you’re going to start to see a little bit of a decline across
the next several months because you’re not going to have a lot
of sporting events going on that are going to be big for
bettors,” Monaco said.
Monaco thinks February and March numbers will be much improved
because of college basketball and the biggest sporting event of
the year.
“The market will undoubtedly see an increase in February, which
continues to be a strong performing month for sportsbooks, with
a fully loaded sports calendar for bettors along with the
biggest betting day of the year, the Super Bowl,” said Monaco.
FanDuel was the most profitable sports betting app with nearly
$60 million in winnings. DraftKings was second, followed by ESPN
Bet, which was a distant third.
Monaco said a proposal to raise the gambling tax in Illinois
from 15% to 35% could make a small impact, but it could be
worse.
“New York and New Hampshire have the highest tax rates in the
nation at 51%, and New York is the number one betting state in
the country,” said Monaco.
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