Gaming Giants BetMGM, Unibet, and theScore Adjust to the Changing Illinois Marketplace
In the bustling world of online sports betting, Illinois stands as one of the most robust markets in the United States. BetMGM, a major player in the industry, has already established its presence in the state, having launched its online sportsbook back in July 2021[5]. The company's application for a Management Services Provider (MSP) license, an essential component of its operations, has been approved and is currently active[1][5].
BetMGM's success in Illinois is evident, with the company already operating as one of the 10 legal sportsbooks in the state[1]. As of now, the company is not awaiting further approval for an MSP license, but rather, it is conducting business legally in the state[1][5].
Unibet, on the other hand, entered the Illinois market through an agreement with Penn National Gaming to be the online skin of Argosy Casino in Alton. The company is expected to clear $10 million in cumulative handle since its July launch in Illinois when the Illinois Gaming Board (IGB) releases its March figures next week[6]. However, Unibet's application for an MSP license has yet to be submitted to the IGB[2].
TheScore, another contender, has made its mark in Indiana, generating nearly $12 million in handle since its mid-September launch there[7]. The company has also reached an agreement with Harrah's Joliet for access into Illinois[8]. However, as of now, TheScore has yet to submit its application for an MSP license in Illinois.
Meanwhile, Governor JB Pritzker's Executive Order 2020-41, which required sports bettors in Illinois to register for mobile access in person at a casino, lapsed. This has presented a challenge for new entrants like Unibet and TheScore, but it has also contributed to Illinois fulfilling its potential as a top-four sports betting market[9].
The sports betting landscape in Illinois is not static. Downtown Chicago is one of the six locations for potential new casinos, and the process will be a hefty undertaking once the city gets feedback from its RFP expected to be released this month[4]. The IGB has also deemed 815 Entertainment "preliminary suitable" for a casino in Rockford, but the process for new casinos is complex and logistically challenging[10].
It could be March 2022 before remote registration is next available in Illinois without another intervention from the governor[3]. This delay has not deterred BetMGM, which has been generating momentum in Indiana and Michigan, but its application process in Illinois has been ongoing since September 4[11].
In the meantime, the Illinois sports betting market continues to grow, with six mobile sports betting operators currently in operation. However, only one, Barstool Sportsbook, has launched in the last six months[12]. As the market evolves, it will be interesting to see how Unibet and TheScore fare in their application processes and how they perform once they are granted their MSP licenses and join the competitive Illinois sports betting scene.
- BetMGM's operations in the Illinois sports betting market are legal and active, as its Management Services Provider (MSP) license application has been approved and it is one of the 10 legal sportsbooks in the state.
- Unlike BetMGM, Unibet and TheScore have yet to submit their applications for MSP licenses in Illinois, presenting a challenge for them to enter the growing Illinois sports betting market.
- While the Illinois sports betting landscape is dynamic, with potential new casinos and complex processes, companies such as Unibet and TheScore will need to navigate these challenges in order to secure their MSP licenses and compete in this lucrative market.
