• Thu. May 13th, 2021

Barstool Sportsbook Launches in Illinois, January Statewide Wagers Hit $581M

BySpeed Casino

Mar 15, 2021

Posted on: March 13, 2021, 10:43h. 
Final up to date on: March 14, 2021, 10:28h.

Steve Bittenbender Learn Extra

Illinois has shortly established itself as one of many high sports activities betting states within the nation, and now a brand new competitor is leaping into the market.

Barstool Sports activities Founder Dave Portnoy seems in a video for his on-line sports activities media firm. Penn Nationwide Gaming bought a stake within the firm and is leveraging the model well-liked with Millennial and Gen Z sports activities followers to construct a nationwide sports activities betting operation that may compete with the likes of FanDuel and DraftKings. (Picture: Barstool Sports activities/YouTube)

The Illinois Gaming Board reported its January deal with this previous week. That ended up being a report $581.6 million whole. That’s practically a $90 million enhance from December, when bettors wagered $491.7 million.
And nearly all of that got here from on-line bettors in January, as $575.2 million was wagered via the state’s 5 licensed cell functions.
There’s now a sixth one accessible within the Land of Lincoln. On Thursday, Barstool Sportsbook made its extremely anticipated debut.
Sports activities Betting Revenues Extra Than Double
Illinois’ January deal with nonetheless ranks fourth within the nation, however it’s catching up on each Pennsylvania and Nevada. Pennsylvania’s deal with was $615.3 million, whereas Nevada reported $646.7 million.
Of the Illinois $581.6 million, sportsbooks claimed revenues of $49.4 million. That’s up from the $23.9 million in winnings reported in December.
The state additionally acquired $7.2 million in taxes for the month.
DraftKings remained the No. 1 sportsbook within the state, accepting $244.2 million in wagers. Of these, $243.5 million got here via its app. FanDuel ranked second, with all however practically $135,000 of its $173.3 million in deal with coming on-line.
BetRivers posted an all-sources deal with of $112.7 million. Its retail sportsbook at Rivers Des Plaines, which opened a 12 months in the past, took in $3.7 million of that. The on line casino was the one one to have a brick-and-mortar sportsbook report a deal with of greater than $1 million.

In January, the IGB reported that bettors positioned greater than 17.6 million wagers, both on-line or at a sportsbook. The common wager was barely greater than $33.

Barstool Now in Illinois
Penn Nationwide Gaming launched Barstool this week in anticipation of subsequent week’s NCAA Match, which is without doubt one of the hottest occasions for sports activities bettors within the nation.
Whereas BetRivers, DraftKings, and FanDuel all loved head begins, Penn Nationwide is taking inventory in Barstool’s built-in viewers in hopes it is going to compete with these three on an instantaneous foundation.
In a press launch this previous week, Jay Snowden, Penn Nationwide’s CEO, famous the sports activities media model has had a presence in Chicago and throughout Illinois for practically a decade. Nationally, the web outlet generates 54 million distinctive guests every month. Its target market is Millennial and Era Z sports activities followers.

As the one gaming operator with a completely built-in sports activities media and leisure companion, our prospects in Illinois will now be capable of have interaction with these Barstool personalities via the web Barstool Sportsbook and luxuriate in their distinctive tackle Chicago sports activities,” Snowden mentioned.

Illinois marks the third state for Barstool. It’s presently stay in Pennsylvania and Michigan. The sportsbook makes use of a Kambi platform, with White Hat Gaming offering the danger administration resolution.
By means of that partnership, Snowden mentioned Penn Nationwide’s Barstool Sportsbook is “attracting new and current Penn Nationwide prospects, as evidenced by our efficiency to this point in Michigan and Pennsylvania. We’re desperate to leverage the constructing momentum for the Barstool Sportsbook app with our launch in Illinois and the extra launches we’ve deliberate for 2021.”

Associated Information Articles