Illinois Sets new Records For Monthly Sports Betting Handle, Revenue
The Illinois Gaming Board reported a November handle of $1.53 billion, the most ever wagered for the second consecutive month. Sports wagering operator earnings 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 included NFL, college football, NBA, NHL, and college basketball increased 11.3% year-over-year. Revenue jumped 112.6% from November 2023.
The 10.1% hold in November reached double digits for the fourth time in 2024 and nearly doubled the win rate from the exact same month of the previous year.
Online sportsbooks represented $1.49 billion of the Land of Lincoln handle and produced a 10.1% hold while retail sports wagering operators generated $39.2 million in wagers and $3 million in revenue.
Illinois sports betting generated $48.2 million in tax revenue, while Cook County got $1.5 million from sports betting in the Chicago location.
Monthly enhancement
Illinois operators rallied in November. With NFL favorites winning unprecedentedly during a stretch in October, year-over-year profits fell by 27.8%.
Profits jumped 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 least expensive in more than 4 years.
In November, football accounted for $25.2 countless the total income, thanks to a 61% hold, while parlays reached an almost 20% win rate to make sportsbooks $93.7 million.
Big profits
DraftKings set Illinois month-to-month with a $527.1 million manage and income of $57.3 million. FanDuel wasn't far behind with $512.4 million in wagers and $54.7 million in earnings, the most it has ever taken as an Illinois operator.
The 2 leading operators in the Illinois market both set revenue highs without producing double-digit holds.
Fanatics Sportsbook also set a brand-new mark for the online sportsbook with $11.4 million in earnings and finished third with a manage of $118.7 million. BetRivers put 4th with an $85.4 million deal with while also increasing its income by 81% month-over-month.
BetMGM and Caesars were the only other sportsbooks to go beyond $60 million in wagers and both saw month-over-month earnings increases. ESPN BET created a November deal with of $54.1 million, a 20.4% reduction from October.
Acid rock Bet took in $38.5 million in wagers while Circa Sports tape-recorded a $13.9 million manage. Both produced win rates listed below 7%.
Better than 2023
With another month to report for 2024, Illinois is on pace to shatter the previous year's wagering numbers. The Land of Lincoln has actually currently gone beyond $12.5 billion in wagers through November. That's nearly $1 billion more than all 12 months of 2023.