The latest financial reports from the Illinois Gaming Board reveal a new peak in sports betting activity for the state in September.
September saw a total handle of $1.08 billion, edging past the previous record of $1.07 billion set in March 2023 by approximately $5.7 million. This Illinois figure represents 9.4% of the nationwide monthly sports betting record of $11.5 billion achieved in September, with only Kentucky yet to publish its September launch figures.
September’s handle surged by approximately 60% when compared to $664 million garnered in August. Compared to its Sept. 2022 report, it marked a 30% increase. This boosted the state’s year-to-date handle to $7.8 billion, showing a robust 16.6% rise over the first three quarters of the previous year.
In the past year, Illinois has seen an impressive trend, marking the sixth occasion in which sports bettors in the state have collectively placed over $1 billion in wagers within a single month. This consistent milestone has occurred within the last 12 months, highlighting sustained high betting activity in the Land of Lincoln.
Illinois had consistently held the position of the second-highest state in terms of sports betting handle, following closely behind New York from February to July. However, in both August and September, Illinois slipped to the third position, with the Empire State and New Jersey surpassing its betting volume during these months.
Over 50% of September’s wagers came from NFL, college football, and baseball bets. Online sports betting dominated with a 95.3% share, amassing $1.03 billion. Retail sportsbooks, in contrast, contributed $34 million to the total.
Illinois Sees an 84% Surge in September Revenue Compared to August
The combination of a solid win rate and a significant uptick in betting volume has made a remarkable impact on overall revenue in September. Sportsbook operators in Illinois reported an adjusted gross revenue of over $86.2 million, maintaining a hold of just under 8%.
This surge in handle led to an 84% spike when compared to the previous month and a 10% year-on-year increase in revenue, where the hold stood above 9.4%. With a year-to-date win rate of 8.9% and substantial growth in handle, the accumulated revenue has spiked by 34.1% compared to last year, hitting an outstanding $688.4 million.
In September alone, the state saw a tax revenue of over $12.9 million, contributing to the overall 2023 fiscal year tally, which has now reached about $103.3 million. This marks an impressive leap of more than $26.2 million compared to the same period last year.
Cook County, inclusive of Chicago, garnered over $925,000 in taxes from the $46.3 million sports betting revenue generated within its jurisdiction. So far this year, Cook County has collected close to $7.5 million in taxes from sports betting revenue.
DraftKings Sets the Pace with Over $400 Million
DraftKings made history by becoming the first mobile operator in the state to exceed the $400 million monthly handle mark, hitting a total of $409.9 million. The sportsbook additionally achieved a record-breaking monthly revenue, earning $30.5 million with a 7.7% hold, as it reached the $30 million mark for the first time in the state.
FanDuel placed second with a handle of $355.3 million, but led in terms of revenue, generating about $32.4 million. It maintains a year-to-date hold slightly above 11%, having won over $290.4 million from a $2.63 billion handle.
BetRivers ranked third among sportsbooks in Illinois, boasting a $96.9 million monthly handle and an approximate 8.4% hold. Caesars and PointsBet secured the fourth and fifth positions, tallying $67.9 million and $53.3 million, respectively.
BetMGM achieved a monthly handle of $48.6 million, generating over $4.4 million in revenue with a 9.5% hold. Meanwhile, Penn Entertainment’s Barstool Sports, now known as ESPN Bet, contributed $43.6 million to the state’s handle.
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