Football’s Absence Drops Illinois Sports Betting Below A Billion
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Illinois sportsbooks fell short of reaching $1 billion in sports betting handle for the first time in five months, primarily because of limited football betting options.
Nevertheless, Illinois had an impressive month, solidifying its status as a leading state in the nation. In February, Illinois saw a handle of $875.4 million, ranking it second in the United States behind New York’s $1.47 billion, but ahead of New Jersey’s $847.4 million, Nevada’s $659.4 million, and Ohio’s $639.8 million.
Last week, the Illinois Gaming Board disclosed the figures for February.
Illinois successfully handled over $1 billion each month for four consecutive months leading up to February, joining New York, New Jersey, and Nevada as the fourth state to achieve this milestone.
Lack of football betting brings end to billion-dollar streak
Considering the widespread popularity of football betting, it is understandable why Illinois experienced a decline in February.
An analysis by Play Illinois revealed that Illinois residents wagered nearly $300 million on football in December, including both college and professional games. This amount decreased to $214.5 million in January due to fewer college bowl games and NFL playoff games. The betting amount then dropped significantly to $47.8 million in February, as the Super Bowl was the only football event available on February 12.
This highlights the notable contrast between the $875.4 million total for February and the record-breaking $1.07 billion total for January.
In Illinois over the past five months, the situation has been handled.
- February — $875.4 million
- January — $1.07 billion
- December — $1.029 billion
- November — $1.03 billion
- October — $1.03 billion
The difference in football betting between January and February in Illinois was $166.7 million. If this amount was included in the total sports betting amount for February, which was $875.4 million, the overall total would have surpassed $1.04 billion.
This suggests that if there had been the same number of football betting opportunities in February as there were in January, with a consistent level of betting, Illinois could have achieved its fifth straight billion-dollar month. It could have also been the second most profitable month in the history of sports betting in Illinois.
Illinois is expected to inch closer to a $1 billion handle when the March figures are revealed, largely due to the popularity of betting on March Madness. In 2022, Illinois residents wagered a total of $286.2 million on the men’s and women’s NCAA tournaments combined.
Super Bowl betting in Illinois down 21% from 2022
Analyzing the football data closely can help us gauge the approximate amount gambled on the Super Bowl in Illinois. While the Illinois Gaming Board did not reveal the exact figures this year, it is logical to assume that the entire $47.8 million was bet on that specific game, given the lack of other football matches during that period.
According to the IGB, the amount bet on the 2022 Super Bowl has decreased by 21% to $60.5 million. On the other hand, the total wagered on the 2023 Super Bowl has slightly increased from the $45.6 million bet on the 2021 game.
Illinois sports betting handle up 29% over February 2022
The goal of reaching a billion dollars in handle in February was ambitious, but ultimately not achieved.
In February 2022, sportsbooks in Illinois reported a total of $679.4 million in bets. This marked a 29% year-over-year increase compared to February 2021, when the total amount of bets reached $875.4 million.
There is a legitimate justification for that.
The March 2022 legislation in Illinois allows residents to sign up for sportsbooks online, eliminating the need to do so at a physical casino. This move to enable online registration with any of the seven legal sportsbooks in the state has been advantageous for the industry.
Illinois through the first two months of 2023
Illinois generated $63 million in revenue in February, which was a 24% decrease from January. The state collected nearly $11 million in taxes, reflecting a 29% drop from the previous month. The hold for February was 7.2%, down from January’s 8.3%.
This means that the combined numbers for Illinois in the initial two months of 2023 are:
- Handle of $1.945 billion
- Revenue of almost $152 million
- Taxes of $26.4 million
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Fairmount Park | FanDuel | $307,217,253 | $33,461,233 | 10.9% | $5,406,172 |
| Casino Queen East St. Louis | DraftKings | $278,866,173 | $16,347,502 | 5.9% | $2,974,534 |
| Rivers Des Plaines | BetRivers | $91,472,309 | $5,643,295 | 6.2% | $995,522 |
| Grand Victoria | Caesars | $54,935,471 | $994,358 | 1.8% | $199,510 |
| Hawthorne | PointsBet | $53,446,908 | $3,830,102 | 7.2% | $713,158 |
| Par-A-Dice | BetMGM | $50,075,114 | $2,099,727 | 4.2% | $394,437 |
| Hollywood Aurora | Barstool | $34,947,453 | $760,443 | 2.2% | $259,096 |
| Argosy | $3,239,894 | -$35,709 | -1.1% | $0 | |
| Hollywood Joliet | $1,187,212 | $196,959 | 16.6% | $24,865 | |
| Total | $875,387,789 | $63,297,910 | 7.2% | $10,967,295 |
Illinois officially over $20 billion lifetime
Furthermore, it is important to mention that Illinois surpassed a lifetime sports betting handle of $20 billion as of February.
In January, Illinois moved into the third spot for lifetime sports betting handle, surpassing Pennsylvania with over $19.7 billion wagered on sports. The January numbers in Illinois also contributed to the overall lifetime sports betting handle in the United States exceeding $200 billion.
Currently, Illinois sportsbooks have produced a handle exceeding $20.6 billion.
In 2022, Illinois saw a total sports betting handle of $9,751,301,251, making it the third highest state in terms of sportsbook handle. New York led with over $16.2 billion, followed by New Jersey with nearly $11 billion.
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