bet365 Sportsbook Goes Live in Illinois
bet365 has officially launched its services in the Illinois sports betting market, becoming the tenth operator to do so.
LISTEN TO THIS ARTICLE:The sportsbook received a license from the Illinois Gaming Board last December, through its partnership with Walker's Bluff. However, while it has rolled out its mobile sports betting offering, bet365 is yet to commence retail wagering in the state.
bet365’s Illinois debut comes less than a week before the March Madness basketball tournament, an event known to draw huge interest and wagering activity. It will compete with other operators in the state, like FanDuel, DraftKings, Caesars, BetMGM, Fanatics, BetRivers, ESPN Bet, Circa Bet, and Hard Rock Bet to capture a share of the wagers during the busy betting period.
With this development, the British operator is now operational across 12 states in the US. The number will rise to 13 when it launches in Tennessee, where it has already secured market access.
A spokesperson for bet365 revealed that the operator's main objective in the US is to 'drive growth” in states where it currently operates.
In 2023, bet365 was the sixth-largest sports betting operator in the US by revenue. Earlier this year, the operator reported earning $4.6 billion in revenue from its sports and gaming segment for the 53-week period ended March 31. The figure marks an increase of 9% year-over-year.
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A 40 Billion-Dollar Competitive Market
To establish itself quickly in the Prairie State, bet365 will need to leverage its full range of promotional offerings, including attractive promotions, competitive odds, and other bettor-friendly features. Despite the competition, there is still plenty of room for growth in the Illinois sports betting market.
Last fall, Illinois became the fourth state in the US to exceed $40 billion in total sports betting handle. This cements its position as one of the nation’s largest online sports betting markets, alongside New York, New Jersey, and Nevada.
In January, the state reported a sports betting handle of $417.9 million. Of the total, FanDuel accounted for $208.0 million, while DraftKings took in $105.3 million in bets. BetMGM secured the third spot with $30.6 million in wagers.
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