Nearly $10 Billion Bet Through Illinois Sportsbooks In 2022
The Illinois Gaming Board released figures today revealing that almost $10 billion was wagered via legal sportsbooks in Illinois in 2022. The numbers for December were also released.
For the third consecutive month, the sports betting handle in Illinois exceeded $1 billion. In December, Illinois sportsbooks received over $1.029 billion in bets. This is slightly lower than the record $1.03 billion in November and roughly on par with October, which was the first time the sports betting handle in Illinois surpassed the $1 billion mark.
Illinois is only the fourth state to record three straight months of billion-dollar handle, following New York, New Jersey, and Nevada.
The revenue from sports betting in Illinois for the year was precisely $9,751,301,251.
In 2022, Illinois was the third highest state in sports betting handle, trailing behind New York, which exceeded $16.2 billion, and New Jersey, which was slightly under $11 billion.
In December alone, Illinois ranked third in handle, trailing behind New York (with over $1.6 billion) and New Jersey (with nearly $1.06 billion).
Betting on the NFL, NBA, World Cup, and NHL was the primary driver behind the record handle in Illinois.
Illinois sports betting handle up 82% since August
Although the sportsbook handle in December IL was roughly equivalent to those of November and October, it showed a 24% increase from the September total bet of over $831.8 million, and a significant 82% increase from the August figure of $565 million.
The change in legislation is largely responsible for the growth.
The legislation that came into effect in March 2022 permitted residents of Illinois to register for sportsbooks online, instead of at a physical casino within the state. This decision, enabling Illinois residents to sign-up with any of the seven legal sportsbooks in the state online, has significantly benefited the industry.
IL sportsbook revenue ranked second in US in 2022
In 2022, Illinois was the second highest state in the US in gross gaming revenue, earning over $806 million.
In terms of sports betting revenue, New York led the US with almost $1.4 billion. New Jersey closely followed Illinois to secure the third position with nearly $763 million.
In December, the Prairie State ranked third in the United States, earning nearly $81.4 million in sports betting revenue. This figure was less than New Jersey’s revenue of $87.7 million. New York topped the nation’s revenue chart for the month, generating nearly $143 million.
Illinois sports betting revenue – December 2022
| Licensee | Online Brand(s) | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Fairmount Park | FanDuel | $350,723,415 | $37,370,170 | 10.7% | $6,002,599 |
| Casino Queen East St. Louis | DraftKings | $311,384,471 | $21,900,309 | 7% | $3,590,337 |
| Rivers Des Plaines | BetRivers | $108,973,694 | $8,097,812 | 7.4% | $1,337,461 |
| Hawthorne | PointsBet | $81,957,678 | $3,438,552 | 4.2% | $581,018 |
| Par-A-Dice | BetMGM | $59,824,979 | $4,632,661 | 7.7% | $708,263 |
| Grand Victoria | Caesars | $57,615,744 | $2,758,015 | 4.8% | $426,044 |
| Hollywood Aurora | Barstool | $50,470,038 | $2,680,710 | 5.3% | $477,586 |
| Argosy | $6,106,634 | $346,429 | 5.7% | $41,176 | |
| Hollywood Joliet | $1,413,603 | $182,812 | 12.9% | $21,666 | |
| Total | $1,028,471,257 | $81,407,470 | 7.9% | $13,186,151 |
Illinois sports betting surpasses Pennsylvania lifetime
The industry has a bright future with more sportsbooks soon to be introduced in Illinois.
In November, Illinois exceeded Pennsylvania in sports betting revenue and is nearing to overtake PA in terms of handle.
Ranking of lifetime sports betting revenue (up to December 2022):
- New Jersey has nearly $2.37 billion, Nevada has nearly $1.7 billion, Illinois has almost $1.5 billion, Pennsylvania has nearly $1.5 billion, and New York has $1.41 billion.
Lifetime sports betting handle:
- Over $33.7 billion — New Jersey
- Over $29.5 billion in Nevada
- Nearly $18.9 billion – Pennsylvania
- Illinois — $18.7 billion
- Over $16.6 billion — New York
Illinois nearly $233 million in tax revenue from sports betting
Since its inception in June 2019, sports betting in Illinois has generated nearly $233 million in tax revenue. In 2022 alone, it has produced close to $128 million in tax revenue.
In December, sportsbooks in Illinois produced over $13 million for state and local treasuries. This followed November’s contribution where they generated over $15.5 million in taxes.
In December, the effective tax rate on sportsbook in Illinois was 16.2%.
In 2022, the hold in Illinois was 8.3%, it was 7.9% in December, and has maintained a lifetime rate of 7.9%.
Sports betting exceeded $190 billion in lifetime handle nationwide
The 26 states where sports betting is legal have generated a combined turnover of over $190 billion up to December in their lifetime. The revenue is close to $15 billion and the total tax revenue is approximately $2.5 billion.
For the year 2022, the total handle surpassed $93 billion, with total revenue nearing $8 billion. The combined tax revenue for that year exceeded $1.5 billion.
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