Illinois Rises To Second In Sports Betting Revenue, Falls To Third In Handle
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Betting on NFL games in September gave a boost to the Illinois sports betting industry, moving it ahead of New Jersey in revenue for the year. Despite this, Illinois has slipped from second to third place in terms of total sports betting handle.
Illinois’ analysis of the most recent numbers, which were made public by the Illinois Gaming Board on Monday evening, is as follows.
In September 2022, the Prairie State’s gross gaming revenue reached over $536 million, surpassing New Jersey’s revenue by $19 million, which sits at $517 million. However, New York leads the pack with almost $928 million in revenue.
However, the ranking changes when looking at the year-to-date handle. In September, Illinois fell from second to third place, with over $6.6 billion wagered on sports in the state. This puts Illinois behind New Jersey (over $7.7 billion) and New York (over $11.5 billion).
There are two NFL teams located in New Jersey.
In August, the Prairie State collected almost $565 million in handle, surpassing New Jersey by $8 million.
NFL pushes Illinois sports betting up 47% in September
The start of the NFL season in September had a notable impact on sports betting in Illinois, with the state’s sports betting handle increasing by almost $267 million, a 47% month-over-month rise.
During the same time period, sports betting revenue in Illinois saw a 29% increase compared to the numbers in August.
Illinois sportsbooks made $83.5 million in revenue in September, coming in third place behind New Jersey and New York, which earned nearly $98 million and over $145 million, respectively. This marked a significant increase from August’s revenue of $64.6 million in Illinois, which was itself a 9% increase from July.
Illinois sports betting revenue – September 2022
| Licensee | Online Brand | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Casino Queen East St. Louis | DraftKings | $291,927,647 | $19,202,844 | 6.6% | $3,262,322 |
| Fairmount Park | FanDuel | $240,902,672 | $38,178,093 | 15.8% | $5,781,550 |
| Rivers Des Plaines | BetRivers | $102,895,669 | $9,149,482 | 8.9% | $1,425,958 |
| Hawthorne | PointsBet | $57,376,238 | $3,895,670 | 6.8% | $428,492 |
| Par-A-Dice | BetMGM | $46,349,325 | $3,896,451 | 8.4% | $503,854 |
| Hollywood Aurora | Barstool | $46,201,921 | $4,464,724 | 9.7% | $636,589 |
| Grand Victoria | Caesars | $40,461,441 | $3,770,518 | 9.3% | $430,743 |
| Argosy | $4,238,393 | $648,166 | 15.3% | $54,738 | |
| Hollywood Joliet | $1,452,683 | $327,851 | 22.6% | $35,439 | |
| Total | $831,805,990 | $83,533,801 | 10.0% | $12,559,685 |
Prairie State ranks second in the US in tax revenue
The regulated, legal sports betting industry in Illinois is clearly providing significant benefits to its citizens.
Illinois ranked second in sports betting tax revenue in 2022, generating over $82.5 million in state and local taxes through September. The state falls behind New York’s $471 million but surpasses New Jersey’s $72.6 million.
Illinois sportsbooks have generated over $187 million in tax revenue since their launch in March 2020, making the state the third highest in terms of tax revenue from sports betting. This places Illinois behind New Jersey, which has generated over $292 million, and Pennsylvania, which has generated over $313 million, both of which have more established sports betting markets.
More billion-dollar milestones ahead in Illinois
Illinois sportsbooks reached a milestone in August by surpassing $1 billion in gross gaming revenue solely from online activity, marking the first time this has occurred since sports betting was introduced nearly 2 and a half years ago. The total has now increased to over $1.2 billion.
In July, it was reported that the combined gross betting revenue from physical and online sportsbooks in IL had surpassed $1 billion since their inception.
Play Illinois predicts that Illinois will achieve a record handle exceeding $1 billion in the month of October.
We are confident that Illinois will fall just short of reaching the $10 billion milestone for the year 2022.
The growth is mainly attributed to the change in legislation.
In March of this year, a new law in Illinois allowed residents to register for sportsbooks online rather than in person at a casino. This change has greatly boosted the industry by giving residents the ability to sign up with any of the seven legal sportsbooks in the state.
Expected to surpass Pennsylvania soon
The sportsbook industry in Illinois shows great promise with the emergence of more venues. Illinois is on the brink of surpassing Pennsylvania to claim the third spot in lifetime sports betting revenue and handle rankings.
Lifetime sports betting revenue rankings:
- The values of New Jersey, Nevada, Pennsylvania, Illinois, and New York are $2,123,552,899, $1,530,219,000, $1,284,279,656, $1,207,751,921, and $969,865,779, respectively.
Lifetime sports betting handle:
- New Jersey — $30,497,583,224
- Nevada — $26,730,516,808
- Pennsylvania — $16,550,951,863
- Illinois — $15,567,870,563
- New York — $11,899,955,063
Sports betting exceeds $160 billion in lifetime handle nationwide
As of September, the 26 states with legalized sports betting have amassed a total handle of over $160.5 billion. Additionally, they have exceeded $12 billion in revenue and are on track to reach $2 billion in tax revenue.
In 2022, the total handle has exceeded $63 billion, with total revenue surpassing $4.9 billion and combined tax revenue nearing $1 billion.
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