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SportsTranscript
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00:03 >> Certainly it's been a down season for the Chicago Bears, but
00:06 that hasn't really made any difference for the Bears or the Bulls or
00:09 any other sports, Northwestern in Illinois,
00:12 as the gaming board is reporting over a billion dollars again in revenue.
00:18 And I mean, the amount of money coming in for a lot of these states, Jim,
00:21 is very high, but Illinois is right there near the top.
00:26 >> Yeah, Craig, you're right, they're one of the larger markets in the country for
00:32 sports betting routinely in that top three to five in terms of handle
00:38 each and every month.
00:39 And October, excuse me, was the first month that they went over $100
00:44 million in revenue combined from all operators.
00:49 And what we saw was that parlay betting had a large
00:55 portion of that $112.7 million in total revenue,
01:02 making up more than half, it was about $64.2 million in winnings for
01:07 the sports books off of parlays.
01:09 And we've seen the growth of parlay betting over the course of this last year.
01:16 A lot of the major apps are promoting it, obviously,
01:21 they're enhancing it, and they're putting that parlay product out there.
01:26 And the customers evidently are enjoying it, taking advantage of it,
01:31 using it, and ultimately padding the bottom line for sports books.
01:37 BetRivers, they recently added some new parlay features,
01:43 made it easier to access prop bets, which, as you know, Craig,
01:47 are quite popular in parlay bets.
01:51 They've just enhanced those features within the last handful of months.
01:57 And they posted the highest win rate in Illinois in October amongst
02:02 the parlay betting at nearly 20%, which is rather high.
02:08 Fanduel, in recent months, they've said that their parlay
02:13 product has produced higher margins for them with better pricing.
02:19 We've seen DraftKings roll out a variety of new parlay products
02:24 in the last couple of months as well.
02:26 And Caesars also has made some enhancements to its parlay product.
02:31 And recently, some of their executives said that they would put their
02:36 parlay product on the same shelf as the ones from Fanduel and DraftKings.
02:41 And people are responding well to all three.
02:44 Four, if you include the BetRivers product, as we've seen in Illinois,
02:49 is that parlay betting driving some serious revenue
02:54 numbers for Illinois sports betting apps in October.
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