Illinois Sets Brand-new Records For Monthly Sports Betting Handle, Revenue
The Illinois Gaming Board reported a November deal with of $1.53 billion, the most ever bet for the 2nd successive month. Sports wagering operator revenue of $154.6 million also set a brand-new month-to-month high and eclipsed the previous record of $137.2 million from September 2024.
Action in Illinois during a high-volume sports month that consisted of NFL, college football, NBA, NHL, and college basketball increased 11.3% year-over-year. Revenue leapt 112.6% from November 2023.
The 10.1% hold in November reached double digits for the fourth time in 2024 and almost doubled the win rate from the same month of the previous year.
Online sportsbooks accounted for $1.49 billion of the Land of Lincoln handle and produced a 10.1% hold while retail sports betting operators created $39.2 million in wagers and $3 million in income.
Illinois sports betting generated $48.2 million in tax revenue, while Cook County got $1.5 million from sports wagering in the Chicago area.
Monthly improvement
Illinois operators rallied in November. With NFL favorites winning unprecedentedly throughout a stretch in October, year-over-year revenue fell by 27.8%.
Profits leapt 90% from October to November on a deal with enhancement of 6%. Sports betting operators produced a 2.8% hang on football wagers and an 8.6% win rate on parlays, the most affordable in more than 4 years.
In November, football represented $25.2 million of the total profits, thanks to a 61% hold, while parlays reached an almost 20% win rate to make sportsbooks $93.7 million.
Big revenues
DraftKings set Illinois regular monthly records with a $527.1 million deal with and earnings of $57.3 million. FanDuel wasn't far behind with $512.4 million in wagers and $54.7 million in profits, the most it has ever carried in as an Illinois operator.