Circa Sportsbook Receives License Approval For Illinois Launch
The Illinois Gaming Board has approved the license for Circa Sportsbook, which is now one step closer to launching as the eighth legal online sportsbook in Illinois. The sportsbook is tethered with The Temporary by American Place Casino, a Full House Resorts property in Waukegan. While Circa’s CEO, Derek Stevens, said the company is ready to launch both brick-and-mortar and online later this year, the casino has to be open for a period of time before a sportsbook can be introduced. Circa aims to offer a unique selling proposition targeting high rollers with a low-percentage hold and the ability to accept large bets.
Currently, the Illinois sports betting market is dominated by three players, FanDuel, DraftKings, and BetRivers, but Stevens believes there is a lot of room for the market to grow. When Circa does launch in Illinois, it promises a low-hold model that takes larger wagers, which will suit certain customers. The Illinois sports betting market is big business, and the Land of Lincoln ranks third in lifetime sports betting handle in the US behind only New Jersey and Nevada.
Circa will be at The Temporary casino for between two and three years while the permanent casino is being built. Stevens said the Circa sportsbook will have some design input on the retail sportsbook. Circa currently operates sportsbooks in Nevada, Colorado, and Iowa. While there are many competitors in the market, Stevens is not concerned and believes there is still a lot of room to continue growing the market.