Illinois Sportsbooks Rank 2nd In The USA, Surpass $1 Billion In Online Bets
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The sports betting industry in Illinois is experiencing a remarkable and uninterrupted expansion.
Illinois has surpassed New Jersey to become the second-largest sports betting market in the United States, according to the August figures released today by the Illinois Gaming Board.
In August, the Prairie State accumulated almost $565 million in handle, surpassing New Jersey by $8 million. New York continues to lead the nation, with revenue exceeding $877 million through August.
Illinois’s August figures saw a 41% increase compared to the previous year.
Legalized and regulated sportsbooks in Illinois have generated approximately $175 million in tax revenue for state and local governments since launching in March 2020. In just the first eight months of 2022, the tax revenue has neared $70 million, primarily benefiting Illinois residents.
Illinois sportsbooks are currently in third place for gross gaming revenue this year, with nearly $453 million, behind New Jersey with $517 million and New York with over $926 million. It is important to mention that both New Jersey and New York have already released their September figures.
Illinois ranks third in the nation for total sports betting this year, with over $5.8 billion wagered. It trails behind New Jersey, which has $7.7 billion bet, and New York, leading with $11.5 billion.
Illinois online sportsbooks have now exceeded $1 billion
In August, the Prairie State reached a major accomplishment in the realm of sports betting.
In just 29 months since its launch, Illinois sportsbooks have generated over $1 billion in gross gaming revenue exclusively from online activities. In July, the total gross betting revenue from both physical and online sports betting in Illinois surpassed $1 billion.
The growth can be attributed largely to the change in legislation.
In March of this year, a new law in Illinois allowed residents to register for sportsbooks online, eliminating the need to visit a physical casino. Allowing people to register online with any of the state’s seven legal sportsbooks has had a positive impact on the industry.
Illinois sports betting revenue – August 2022
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Fairmount Park | FanDuel | $180,286,759 | $21,829,562 | 12.1% | $3,024,060 |
| Casino Queen East St. Louis | DraftKings | $172,220,817 | $22,457,431 | 13% | $1,944,035 |
| Rivers Des Plaines | BetRivers | $74,214,992 | $6,990,176 | 9.4% | $966,590 |
| Hawthorne | PointsBet | $39,797,880 | $4,715,669 | 11.8% | $659,019 |
| Par-A-Dice | BetMGM | $34,549,556 | $2,867,851 | 8.3% | $395,790 |
| Hollywood Aurora | Barstool | $30,368,583 | $1,953,561 | 6.4% | $315,064 |
| Grand Victoria | Caesars | $29,639,967 | $3,015,069 | 10.2% | $296,276 |
| Argosy | Unibet | $3,093,388 | $661,406 | 21.4% | $81,643 |
| Hollywood Joliet | $665,467 | $137,874 | 20.7% | $12,371 | |
| Total | $564,837,409 | $64,628,599 | 11.4% | $7,694,847 |
94% of IL sports bets have been made online
Sportsbooks in Lifetime, IL have made a total revenue of over $1.1 billion. Online bets accounted for 94% of all sports bets in Illinois, bringing in $1.06 billion, while physical sportsbooks generated just over $66 million.
Illinois’ sports betting industry is looking bright with the addition of more sportsbooks, positioning the Prairie State to potentially surpass Pennsylvania and claim the third spot in lifetime sports betting earnings.
Lifetime sports betting revenue rankings:
- The states with the highest amounts of money are New Jersey with $2,123,552,899, Nevada with $1,459,590,000, Pennsylvania with $1,284,279,656, Illinois with $1,124,218,121, and New York with $968,158,801.
Lifetime sports betting handle:
- New Jersey — $30,497,224
- Nevada — $25,969,625,229
- Pennsylvania — $16,550,851,863
- Illinois — $14,736,064,573
- New York — $11,891,105,476
Sports betting exceeds $60 billion in handle nationwide in 2022
As of 2022, the 26 states that allow sports betting have seen a total handle of over $60 billion, with some states already reporting September numbers and one state still to report August figures. The total revenue from sports betting in the US for this year has surpassed $4.5 billion.
Legal sports betting in the United States has seen over $157 billion in wagers since its inception, with all-time revenue nearing $12 billion.
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