Illinois Sportsbooks Set $1.03 Billion Handle Record in November
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Today, the Illinois Gaming Board announced that November saw a new record set for sports betting in the state.
In October, the sports betting handle in Illinois surpassed $1 billion for the first time. The trend continued in November with a record-breaking $1.03 billion wagered, showing a slight increase of $5,526 (0.05%) from the previous month.
This indicates that the Prairie State has experienced multiple months of billion-dollar revenues in a row.
In November, Illinois ranked third in monthly handle, coming in just $7.2 million behind New Jersey with a total of $1.1 billion. However, it fell significantly behind New York, with a total handle of $1.6 billion, more than half a billion dollars greater than Illinois.
The record handle in Illinois was primarily driven by betting on the NFL, NBA, World Cup, and NHL.
Illinois has joined the ranks of New York, New Jersey, and Nevada as the fourth state to surpass a billion dollars in sports bets in a single month.
In March 2022, Illinois set a record for sports betting handle with approximately $971 million, but this record was surpassed in October when the handle reached $1.029 billion.
Illinois sports betting handle up 82% since August
While the sportsbook handle in Illinois only slightly grew from October to November, there has been a substantial 24% increase from September’s total bet of over $831.8 million, and an impressive 82% increase from August’s $565 million.
The increase in size is mostly a result of new legislation.
In March of this year, Illinois passed a new law allowing residents to register for sportsbooks online instead of in person at a casino. This change has greatly benefited the industry, as it has made it easier for people to sign up with any of the seven legal sportsbooks in the state.
IL sportsbook revenue ranked second in US in November
In November, Illinois came in second in the United States for gross gaming revenue, bringing in approximately $97 million.
In October, New York easily outpaced New Jersey’s revenue of $80.4 million by bringing in over $149 million.
In November, revenue saw a 6% rise from October, a 16% increase from September, and a 50% surge from August.
Illinois is currently ranked second in the US for revenue, bringing in almost $725 million, and third for handle, with more than $8.7 billion.
We are confident that Illinois will fall just short of reaching a total of $10 billion for the year 2022 when the December figures are released in approximately one 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 industry’s future is bright as more sportsbooks are set to launch in Illinois.
In November, the Prairie State surpassed Pennsylvania in sports betting revenue and is close to overtaking Pennsylvania in total handle.
List of total sports betting earnings (as of November):
- In terms of state revenue, New Jersey leads with almost $2.3 billion, followed by Nevada with over $1.6 billion, Illinois with $1.41 billion, New York with $1.4 billion, and Pennsylvania with $1.396 billion.
Lifetime sports betting handle:
- New Jersey has over $32.6 billion.
- Nevada’s total surpasses $28.6 billion
- Pennsylvania has over $18 billion.
- Illinois — $17.6 billion
- More than $16.6 billion in New York.
Illinois close to $220 million in tax revenue from sports betting
Illinois sportsbooks contributed over $15.5 million in taxes to the state and local coffers in November, following the previous month’s generation of over $16.4 million in taxes.
Since its introduction in June 2019, sports betting in Illinois has brought in a total tax revenue of over $219 million. By November of this year, the tax revenue from sports betting has surpassed $114 million.
The effective tax rate for sportsbooks in Illinois was 16.1% in November.
In Illinois, the unemployment rate was 9.4% in November, 8.3% for the year, and has peaked at 15.7% overall.
Sports betting exceeds $182 billion in lifetime handle nationwide
The 26 states that have legalized sports betting have managed a total of almost $182 billion in wagers so far, resulting in over $13.8 billion in profits and nearly $2.4 billion in tax revenue.
By November 2022, the total handle has surpassed $84.6 billion, with total revenue exceeding $6.7 billion for the year. The combined tax revenue for the year has also surpassed $1.4 billion.
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