Illinois raises its wagering record to $1.07 billion

The Illinois Gaming Board on Tuesday reported traditional sports betting volume for January of just over $1.07 billion, setting an all-time high while topping $1 billion for the fourth straight month.

The state’s previous record of $1.03 billion was set in October, with both the November and December handles within $1.1 million of that amount. The January number was up 4% from December and 23.3% higher than the $867.5 million generated in January 2022.

Illinois’ January numbers also resulted in a national monthly record for handles for the third straight month, rising to $10.9 billion, with Arizona yet to report. It was also the first time the operator’s gross revenue surpassed $1 billion in a month, with the current total of $1.02 billion in January surpassing the short-lived norm of $955.7 million in December . State tax revenue of $187.3 million generated earlier in the year is also a new record, up from $174 million in November.

Adjusted gross sales in Illinois came in at just over $96 million, the third-highest in Illinois history as the hold settled at just under 9%. These three largest total monthly earnings have come over the last four months of betting in the Land of Lincoln, which has generated $1.5 billion in adjusted gross earnings since its inception in March 2020 of all time. Illinois is also $275 million away from breaking the all-time $20 billion mark.

The state received more than $14.4 million in tax revenue from its 15% tax rate on adjusted gross receipts. Cook County, which includes the city of Chicago, received just over $1 million in revenue based on an additional 2% levy on all operator revenue from bets placed within the county.

FanDuel drives mobile monthly records higher

For the second straight month, FanDuel set an all-time monthly record for traditional holds, raising the standard to nearly $371.6 million. It completed double setting a new monthly government standard for revenue and claimed nearly $46.4 million in January as it posted a 12.4% win rate on a closed handle of $374.6 million.

More than 62% of that revenue came from accumulator bets, with the online titan collecting $28.9 million from such bets and posting a robust 21.5% share of over $134.6 million in accumulator games accepted. It was the seventh straight month that FanDuel held at least 20% of parlays while the handle broke the previous record it set in October of just under $111 million.

FanDuel’s perennial foil DraftKings was the only other mobile operator to post nine-digit total revenue with $331.4 million, trailing only October’s $338.8 million for its busiest month. DraftKings had a more modest 7.5% win rate and $24.9 million in revenue. As with FanDuel, more than half of its revenue came from betting games, with the operator winning $13.3 million on such bets with a win rate of 14.9%.

BetRivers was third at $96.6 million, but its parlay handle almost quadrupled from December to $24.5 million and accounted for 25.2% of its completed handle, compared to 6.9 % in the previous month. Revenue was relatively flat month-over-month at $7.3 million, up less than $31,000.

Statewide parlay earnings in January totaled $54.6 million, the third-highest total in state history, while parlay handles topped $300 million for the first time in Illinois, with the traditional handle totaling 303 was $.5 million.

PointsBet started the year strong with fourth place in both handling ($72.7 million) and revenue ($4.6 million). It was the fourth straight month that the Australia-based book raked in $70 million in accepted wagers, while revenue grew 37.5% as its 6.3% win rate was more than 2 percentage points better than December.

Caesars Sportsbook posted an all-time high of $57.6 million for the third straight month, beating BetMGM in fifth place by less than $700,000. Bettors kept the Emperor and his house under 4%, while Caesars with just $2.3 million in revenue ended up.

BetMGM closed on less than $4 million on less than $53,000, and while Barstool Sportsbook finished last for the third straight month with $46.7 million, its 7.2% win rate bested the PENN Entertainment Book made a soft landing at sixth in revenue among the seven mobile operators at more than $3.4 million.

Soccer is the sport with the highest turnover

Taking parlay betting out of the equation, Illinois bettors seemed to be doing better on single event bets as the hold for such bets was just 5.4% on $771 million in wagers. Soccer was the top contributor among sports at nearly $15 million, followed by basketball at $12.2 million.

The public held the house at a 3.6% win rate of $338.1 million bets on baskets compared to a 6.8% hold of $221.1 million in football bets. The Australian Open may have proved pivotal by setting a new record for the handle as the calendar year’s first tennis major lifted the sport’s handle to $77.2 million, more than double what it was in December. Tennis also ranked third in operator revenue with nearly $5.5 million and a 7.1% win rate.

The Other catch-all category ranked fourth in non-parlay revenue with nearly $4.1 million, while football revenue hit nearly $2.9 million thanks to a 7.6% win rate to round out the top 5.

PointsBet gets a boost from the new OTB book

PointsBet had its best month in terms of retail execution, boosted by the opening of its third off-track sportsbook in Villa Park. The combined $3.8 million from track and OTB venues was an increase of nearly $1.1 million from December and surpassed the previous record $3.2 million set in January 2022 posted a 12.1% increase in sales to nearly $247,000.

Rivers reclaimed its usual place as the top revenue generator among brick and mortar sportsbooks, ending with more than $1.2 million from $14 million. Casino Queen, which won awards in December, fell to #2 in December as the DraftKings-powered book closed with nearly $575,000 in sales and a 10.2% win rate.

PENN Entertainment’s Barstool books in Joliet and Aurora grossed just over $511,000, while FanDuel’s book in Fairmount Park topped all retail operators with a 20.7% share and profits of $411,000 earned US dollars. Bettors fared far better in East Peoria, capping Par-A-Dice’s sportsbook to a meager $3,650 in revenue of nearly $1.2 million, resulting in a 0.3% turnout. Illinois raises its wagering record to $1.07 billion

Hung is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button