Illinois Sportsbooks Set $1.03 Billion Handle Record in November
The Illinois Gaming Board released the latest sports betting numbers today, revealing that November set yet another record.
For the first time, the sports betting handle in Illinois exceeded $1 billion in October. Following this, a record-breaking $1.03 billion was wagered in November, marking a slight increase of $5,526 (0.05%) from October’s handle of $1.029 billion.
This means the Prairie State has had consecutive months with billion-dollar revenues.
In November, Illinois held the third position in monthly handle, trailing New Jersey by only $7.2 million ($1.1 billion total), but lagging behind New York by more than half-a-billion dollars ($1.6 billion total).
Betting on the NFL, NBA, World Cup, and NHL primarily drove the record handle in Illinois.
Illinois has become the fourth state to manage over a billion dollars in sports bets in a month, following New York, New Jersey, and Nevada.
The previous record for Illinois sports betting handle was approximately $971 million in March 2022, before it was surpassed by a handle of $1.029 billion in October.
Illinois sports betting handle up 82% since August
Even though the sportsbook handle in Illinois only increased marginally from October to November, it has seen a significant increase of 24% from September’s total bet of over $831.8 million, and an 82% increase from August’s $565 million.
The growth is largely due to a change in legislation.
This year in March, a new legislation was enacted that permits residents of Illinois to register with sportsbooks online instead of having to do so at a physical, land-based casino in the state. This decision to enable online registration with any of the seven legal sportsbooks in the state has proven to be highly beneficial for the industry.
IL sportsbook revenue ranked second in US in November
Illinois ranked second in the United States for gross gaming revenue, raking in nearly $97 million in November.
The revenue of New Jersey, which stood at $80.4 million, was effortlessly surpassed by that amount. In October, New York reigned supreme in revenue, raking in over $149 million.
Revenue in November has increased by 6% ($91.5 million) compared to October, 16% ($83.5 million) compared to September, and 50% compared to August’s revenue of $64.6 million.
Through November of this year, Illinois ranks second in the US for revenue (almost $725 million) and third for handle (more than $8.7 billion).
We firmly believe that Illinois will just miss reaching a handle of $10 billion for the entirety of 2022, once the figures for December are released in about a month.
Illinois sports betting revenue – November 2022
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Fairmount Park | FanDuel | $345,273,098 | $43,827,568 | 12.7% | $7,007,955 |
| Casino Queen East St. Louis | DraftKings | $324,155,225 | $27,035,478 | 8.3% | $4,291,515 |
| Rivers Des Plaines | BetRivers | $113,431,853 | $9,422,914 | 8.3% | $1,530,356 |
| Hawthorne | PointsBet | $74,295,627 | $6,161,566 | 8.3% | $998,989 |
| Par-A-Dice | BetMGM | $58,573,259 | $4,888,128 | 8.3% | $795,626 |
| Grand Victoria | Caesars | $55,146,291 | $3,084,177 | 5.6% | $482,731 |
| Hollywood Aurora | Barstool | $52,427,772 | $1,899,866 | 3.6% | $394,619 |
| Argosy | $4,630,633 | $376,726 | 8.1% | $49,661 | |
| Hollywood Joliet | $1,681,689 | $240,826 | 14.3% | $30,394 | |
| Total | $1,029,615,448 | $96,937,248 | 9.4% | $15,581,846 |
Illinois sports betting surpasses Pennsylvania lifetime
The future of the industry looks promising with the arrival of more sportsbooks in Illinois soon.
In November, the Prairie State exceeded Pennsylvania in terms of sports betting revenue and is nearly surpassing Pennsylvania in handle.
Ranking of lifetime sports betting revenue (up till November):
- New Jersey has nearly $2.3 billion, Nevada has over $1.6 billion, Illinois has $1.41 billion, New York has $1.4 billion, and Pennsylvania has $1.396 billion.
Lifetime sports betting handle:
- Over $32.6 billion — New Jersey
- Over $28.6 billion – Nevada
- Over $18 billion in Pennsylvania
- Illinois — $17.6 billion
- Over $16.6 billion in New York.
Illinois close to $220 million in tax revenue from sports betting
In November, sportsbooks in Illinois generated over $15.5 million in taxes for the state and local coffers. This followed October’s generation of over $16.4 million in taxes by IL sportsbooks.
Since its launch in June 2019, sports betting in Illinois has generated over $219 million in total tax revenue. As of November this year, the tax revenue from sports betting has exceeded $114 million.
In November, the effective tax rate for sportsbook in Illinois was 16.1%.
Meanwhile, in Illinois, the hold was at 9.4% in November, stood at 8.3% for the year to date and has reached 15.7% over its lifetime.
Sports betting exceeds $182 billion in lifetime handle nationwide
The 26 states with legal sports betting have collectively handled nearly $182 billion to date, producing over $13.8 billion in revenue and almost $2.4 billion in total tax revenue.
As of November 2022, the total handle has reached $84.6 billion. The total revenue for this year exceeds $6.7 billion. The combined tax revenue for the year surpasses $1.4 billion.
Related Articles
Breaking Down The Chicago Bears’ 2023 Schedule
