Part of becoming a bookie is knowing the industry that you are joining. You should be able to easily see and tell market trends as they happen over time. Looking at year-on-year data can give you an idea if there is growth in your industry, and at what pace it is. Furthermore, reports can also help you see which aspects of your sportsbook business could potentially give you more income. For instance, let us take a look at the Illinois gambling and sports betting revenue.
For the 2022 fiscal year, which ended June 30, Gaming revenue in Illinois records a $1.89 billion revenue. The previous record (pre-pandemic) was back in FY 2019 at $1.35 million. This represents 38.8% in growth. A large chunk of the total, around $611 million, comes from sports betting in Illinois. Something that many sportsbook pay per head bookies will be pleased to find out.
Illinois Gambling and Sports Betting Revenue
The numbers give us a significant increase despite having lower numbers towards the end of the fiscal year. In June, the handle dropped to $628.5 million. This is 17.8% lower than May’s handle. Even so, the June handle is still 32% higher than June 2021’s handle. A lot of credit in the year-on-year increase points to the recovery of most industries as we move towards the post-pandemic era.
But in Illinois, bettors previously had to register in-person before they could participate in online gambling. The additional requirement bogs down the process, as well as the number of bettors joining online sportsbooks. Most sports betting software requires only a minute of your time to get started. But since the in-person registration requirement was dropped in Illinois, online gambling numbers increased. The growth in online gambling also gives many in the industry optimism that the numbers will be even better in the next fiscal year.