Illinois Rises To Second In Sports Betting Revenue, Falls To Third In Handle
September NFL betting has boosted the Illinois sports betting industry, pushing it past New Jersey into second place for year-to-date revenue. However, in terms of total sports betting handle, Illinois has dropped from second to third place.
Play Illinois’ analysis of the latest numbers, which were released late on Monday by the Illinois Gaming Board, is as follows.
As of September 2022, the gross gaming revenue in the Prairie State exceeded $536 million. This figure surpasses New Jersey’s revenue by $19 million, which stands at $517 million. However, New York tops the list with nearly $928 million.
However, when considering the year-to-date handle, the ranking changes. In September, Illinois dropped from the second to the third position with more than $6.6 billion wagered on sports within the state, trailing behind New Jersey (more than $7.7 billion) and New York (more than $11.5 billion).
Two NFL teams are based in New Jersey.
In August, nearly $565 million was accumulated in handle in the Prairie State, which is $8 million more than New Jersey.
NFL pushes Illinois sports betting up 47% in September
The commencement of the NFL season in September evidently had a significant effect on sports betting in Illinois. The state’s sports betting handle saw a substantial increase of nearly $267 million or 47% month-over-month.
Meanwhile, sports betting revenue in Illinois increased by 29% from the figures in August.
In September, sportsbooks in Illinois generated over $83.5 million in revenue, ranking third behind New Jersey and New York, which generated nearly $98 million and over $145 million respectively. This was an increase from August’s revenue of more than $64.6 million in Illinois, which itself was 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
It is evident that citizens of Illinois are greatly benefiting from a regulated, legal sports betting industry.
In 2022, the state ranks second in sports betting tax revenue. Over $82.5 million in state and local taxes have been generated by Illinois sportsbooks through September 2022. This puts it behind New York, which has over $471 million, but ahead of New Jersey, with over $72.6 million.
Since their launch in March 2020, sportsbooks in Illinois have generated over $187 million in tax revenue. This positions Illinois as the third highest state in terms of tax revenue from sports betting, trailing behind New Jersey (over $292 million) and Pennsylvania (over $313 million), which have more established sports betting markets.
More billion-dollar milestones ahead in Illinois
In August, Illinois sportsbooks surpassed $1 billion in gross gaming revenue from online activity alone for the first time since sports betting was introduced 29 months earlier. The figure has since risen to over $1.2 billion.
Figures from July revealed that the gross betting revenue from both physical and online sportsbooks in IL had exceeded $1 billion over their lifetime.
Play Illinois is now forecasting that Illinois will register a record handle surpassing $1 billion in just October.
We firmly believe that Illinois will just miss hitting the $10 billion mark for the entirety of 2022.
The change in legislation is primarily responsible for the growth.
This year in March, a law was enacted permitting residents of Illinois to register for sportsbooks online instead of at a physical casino within the state. The decision to let residents sign up online with any of the seven legal sportsbooks in the state has significantly benefited the industry.
Expected to surpass Pennsylvania soon
The future of the sportsbook industry in Illinois is promising as more venues emerge. Illinois is inching closer to overtaking Pennsylvania to secure the third spot in lifetime sports betting revenue and handle rankings.
Ranking of lifetime sports betting revenue:
- In New Jersey, the value is $2,123,552,899. In Nevada, it’s $1,530,219,000. Pennsylvania has a value of $1,284,279,656. In Illinois, it’s $1,207,751,921. Lastly, New York exhibits a value of $969,865,779.
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
The 26 states where sports betting is legal have collectively generated over $160.5 billion in handle up until September. They have also surpassed $12 billion in revenue and are about to reach $2 billion in total tax revenue.
For the year 2022, the total handle has now surpassed $63 billion. This year’s total revenue exceeds $4.9 billion. The combined tax revenue is almost reaching $1 billion for the year.
Related Articles
Breaking Down The Chicago Bears’ 2023 Schedule
