The Rams might have won the Super Bowl trophy, but the state of Illinois took home its own prize. Gamblers in IL bet about $61 million on the big game, about $1.4 million of which will go to taxes for the state. This marks the second year where IL had legal sports betting for the Super Bowl, and the figures show a 33% uptick in money wagered on the event.
People in IL bet on a wide variety of outcomes, from the game itself to the winner of the opening kickoff coin toss. One bet even saw people put money on what color of Gatorade would be dumped on the winning coach at the end of the game. The sports betting platforms won $9.5 million, according to the Chicago Sun Times, which is where the state’s $1.4 million tax revenue comes from. In 2021, the betting platforms got $7.7 million and the state $1.1 million.
The increase in betting revenue is a sign that sports betting is here to stay. The legalization has drawn an increasing number of people to the hobby, and the convenience of app-based sportsbooks helps new users get onboard quickly. The one current barrier is that Illinois online sports betting requires in-person registration at a casino where one must show proper ID to get started. This restriction is set to end on March 5, 2022, however. This will make it far simpler to just download a sportsbook app and start betting. No doubt Super Bowl 2023 will attract even more betting.
This surge in gambling interest in IL is an example of a larger nationwide move towards sports betting. This has a lot to do with recent state laws being passed that allow online gambling and sports betting. The online portion of the legalization is important, as it gives access to gambling to those who don’t live near casinos. The convenience factor also helps, because making it easier to place a bet makes it more enticing.
Sports betting laws in the United States are seeing interest thanks to a 2018 Supreme Court decision to repeal PAPSA. The PAPSA law was a federal prohibition on gambling save for tribal casinos and Las Vegas. The Supreme Court’s repeal of PAPSA created an opening for states to make their own laws around gambling and sports betting. The response from several states, including IL, was to put measures in place to legalize sports betting and online gambling. Some states moved faster than others due to their existing agreements with Native American tribes, with IL joining the ranks in 2021.
The results were profitable right away: see the revenue figures from the Super Bowl. Additional millions are recorded every month through regular sports betting and online casinos. One of the greater economic effects of sports betting is that it allows states like IL to have a large, reliable income stream. In some states, the monthly revenue from sports betting rivaled that of Atlantic City. New York brought in over a billion dollars during its first month of legal online sports betting.
Online gambling is proving to be a very profitable industry no matter what the politics or climate of the state. People want to bet on sports, and it’s as simple as that. This outburst of success from US states has inspired other countries like Canada. Ontario is in the midst of allowing online sports betting, and some reports say its platforms will let you wager on esports, awards shows, and even political votes. With how successful sports betting has been for IL, an expansion could be in the works there as well.