BetMGM, one of the largest iGaming and online sportsbook operators in the U.S. has just announced that it will be accepting sports wagers in Illinois.
The sports betting market in the sixth-largest state in America has been thriving for some time now ever-since waiving its in-person registration requirement. This meant that bettors do not have to go to land-based casinos to be eligible to place bets on their computers and mobile phones.
Illinois is not the sole state that is seeing a rise and success in the online gambling market. A number of sports operators and online casinos in different states have been on the rise over the last few years. In fact, Caesars Casino has been the highest rated overall while BetMGM Casino is said to be the best for online poker and cards games. A number of WV online casinos are also becoming more and more popular, including FanDuel Casino, known mostly for video poker, and BetRivers Casino.
BetMGM CEO Adam Greenblatt claims that ‘this launch marks a significant milestone for BetMGM as we enter one of the country’s biggest sports betting markets.’ BetMGM is a joint venture of MGM Resorts International and Entain PLC. Illinois proves to be the 22nd market that the operator has entered in, and in these states, the company is a leader in terms of the casino market share, and it is also among the top three for online sports betting.
BetMGM’s launch in Illinois is relevant to industry analysts and investors since the company has an established record of iGaming and sports wagering leadership in Michigan, nearby. It has already recently debuted in New York. The company has decided to expand in Illinois at the perfect timing since the state’s in-person registration mandate is no longer applicable.
The state generated nearly $9 billion in less than two years of regulated sports betting, and this could readily increase with BetMGM’s launch. When Illinois went live with sports betting in 2020, the state rolled out an 18-month waiting period for casino operators to give land-based casinos a head start. These internet brands started to apply their brands to local casinos. However, as the pandemic started to kick in, Gov. J.B. Pritzker waived the in-person registration requirement to increase revenue. He implemented it again last April with the surge in cases. Illinois ascended the ranks of states by sports betting handle, placing fourth at the end of 2021.
According to research done by the Chicago Sun-Times, adults in Illinois are wagering $9,341 a minute on sports.
BetMGM’s announcement also comes at the perfect timing since the NCAA Tournament, one of the most wagered-on sports in the U.S. starts on March 13th. Multiple teams for Illinois are expected to take part in this tournament
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