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State made over a million bucks on Super Bowl LV

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Illinois

* Illinois Gaming Board…

Based on information available to the Gaming Board from Illinois sports wagering operators as of the date of this release, the approximate sports wagering handle and adjusted gross receipts (“AGR”) for Super Bowl LV on February 7, 2021 are as follows:

* Online Handle: $42,756,647
* Retail Handle: $2,853,866
* Total Handle: $45,610,513

* AGR: $7,659,269

* State Tax Revenue: $1,148,890

Note: The above numbers are subject to change pending more information from licensees and further review and analysis.

posted by Rich Miller
Monday, Feb 8, 21 @ 4:33 pm

Comments

Thanks, Tom Brady…we need the cash!

Comment by Pizza Man Monday, Feb 8, 21 @ 4:36 pm
Thankful the Governor extended his Executive Order so I could register online without having to go to a casino.

Comment by puh-leese Monday, Feb 8, 21 @ 5:25 pm
What is the state tax rate on gambling?

Comment by M Monday, Feb 8, 21 @ 5:36 pm
Can’t wait until the NCAA Basketball Tourney gets back. They’re be a buck or two made off that.

Comment by Anyone Remember Monday, Feb 8, 21 @ 5:55 pm
How about those Super Bowl LV commercials? Amiright?

Comment by Suburban Operative Monday, Feb 8, 21 @ 6:32 pm
I’m far from an expert on this, but it looks like for every dollar bet, the gross profit (AGR) was about 17 cents, which seems high for sports betting.
The state’s take is 15% of the AGR. So you can debate whether it’s worthwhile. Hardly seems like a progressive policy, and there is addiction potential. For most it’s probably fairly harmless entertainment, but something that should be monitored.

Comment by Anonanonsir Monday, Feb 8, 21 @ 6:49 pm
Consumers handed over tens of millions of dollars out of their pockets. There was an era where discussing the morality of gambling was core to the conservative social agenda. Not sure when we became ok with a casino in every pocket.

Comment by Counterpoint Monday, Feb 8, 21 @ 6:59 pm
$1,148,890 down
$140,998,851,110 to go

“You’re gonna need a bigger boat”

Comment by Jed Monday, Feb 8, 21 @ 7:06 pm
@M

15%

Comment by Not for nothing Monday, Feb 8, 21 @ 7:09 pm
So $40 million in capitol is being exported to Nevada and we are suppose to, gulp… cheer?

Comment by Al Monday, Feb 8, 21 @ 7:35 pm
I just started to use the Bet Rivers App. It’s a pretty good interface. The wagering has been easy and the lines are what you would see in a Vegas brick and mortar.

In about 10 years I’d really like to see what the numbers tell us about legal betting and weed. Just how much of the black market went away?

I never wanted to go through the trouble of finding a bookie (would have been really easy) nor have I ever wanted to bother buying weed before (could have asked countless co-workers).

Now in the past year, I’ve done both, legally and those dollars never would have gone to the illicit market in the first place.

Comment by Cool Papa Bell Monday, Feb 8, 21 @ 8:16 pm
Imagine if we could of bet on the length of the National Anthem and other prop bets.

Comment by Bruce( no not him) Monday, Feb 8, 21 @ 8:30 pm
==So $40 million in capitol is being exported to Nevada and we are suppose to, gulp… cheer?==

The total handle is the amount wagered. The AGR is the amount kept by sportsbooks. It was about 17 cents for every dollar wagered, which seems high — friendly to corporate profits. The state share is 15% of the AGR, or in this case about 2.5% of the handle.

Comment by Anonanonsir Monday, Feb 8, 21 @ 9:21 pm
===Can’t wait until the NCAA Basketball Tourney gets back. They’re be a buck or two made off that.===

How much will the State lose if the #6 ranked Illini make a long run this March and bets on them not allowed?

Comment by Sox Fan Tuesday, Feb 9, 21 @ 6:08 am
“Consumers handed over tens of millions of dollars out of their pockets. There was an era where discussing the morality of gambling was core to the conservative social agenda. Not sure when we became ok with a casino in every pocket.”
When government needed the revenue from legalizing vices.

Comment by bogey golfer Tuesday, Feb 9, 21 @ 7:34 am
Good old Illinois government. Making a few insiders millions one vice at a time.

Comment by Back to the Future Tuesday, Feb 9, 21 @ 8:54 am