Hailed as one of the most progressive states in the USA famous for its rich natural resources, Illinois has proudly announced a whopping surge in the local sports betting business’s handle and revenue records in October. The reports released by the Illinois Gaming Board (IGB) on Thursday conveyed that the eight licensed sport gambling hubs of the region managed a business of $434.6 Million worth in wagers. The revenue witnessed a boost of six times to reach $42.2 Million, including the state’s income to hit $6.3 Million in the region.
According to the report, Illinois’ October handle shined at the fourth rank in the entire gambling space of the United States. The first spot was grabbed by New Jersey, the second rank was held by Nevada, whereas the third rank was earned by Pennsylvania. The October figures showed a rise of 42.4% in comparison to the business handled in September. The retail betting domain traded for less than $25 Million of October wagers, and the figure grew at a slower pace in November because of the imposition of the second lockdown.
To encourage more and more participation, the governor, J.B. Pritzker, extended the exemption limits to January 9 for mobile bettors to get themselves registered through new accounts in person. The DraftKings and its Casino Queen partner handled wagers amounting to $141.4 Million together and became the business rulers in October. The second spot was earned by Rivers Casino Des Plaines/BetRivers that handled $115.5 Million worth of wagers, and the third rank with $105.5 Million wagers was grabbed by the Par-A-Dice casino.
However, the betting revenue ruler’s title was held by BetRivers casino that earned $12.9 Million during the month. To reap the benefits of the growing casino industry, Marquee Raine Acquisition Corp, a special purpose acquisition company, launched its IPO on Monday. The entity plans to explore opportunities related to real money gaming, digital media, sports assets, etc. A few weeks back, Foley Trasimene Acquisition Corp II executed a $9Billion deal with Paysafe, an online gambling payment processing entity. The industry is witnessing the entry of big SPC’s, hinting at a big business opportunity for other entities to follow.