Illinois sets sports betting revenue record in November
Gamble USA strives to improve your online gambling experience. We aim to help you play safely, make informed decisions when gambling, and increase your betting knowledge through our guides.
We adhere to strict editorial integrity; our content may contain links to products from our licensed & legal US partners.
Illinois Sports Betting Posts New Record Revenue In November
Although Illinois sports teams are not having the best time at the moment, that has not impacted the state’s sports betting industry’s continued growth. According to a report from the state Gaming Board, Illinois smashed its revenue record in November with $779.8 million in total wagers resulting in $78.2 million in revenue. The 10% hold rate reported in November was close to a record high for the state – it had a 10.1% hold rate in June and July 2021. However, it was the first time Illinois had passed $50 million in revenue.
Indications Point to Further Growth in the Future
Illinois saw its handle shrink by approximately 7.2% from October’s record-setting $840.4 million in total sports wagers, but revenue increased by about 61.9% compared to $48.3 million in October. Year on year, Prairie State saw its handle increase by about 72.9%, from $451 million in November 2020.
There are plans to suspend the current in-person registration requirement for sportsbooks in March, which would allow people to join sportsbooks who don’t currently have access. The convenience of not needing to travel to create an account with a particular sportsbook will help boost further growth in Illinois.
Most Popular Sportsbooks
Online sports wagering and mobile betting on IL sports betting apps was far more popular than retail sports betting in Illinois despite the frustrating in-person registration requirement. Online gambling revenue amounted to $74.3 million compared to around $4 million for retail revenue.
DraftKings led the way with an impressive $288.7 million handle (37% market share) and $21.9 million in revenue. The market-leading operator also had a hold rate of 7.6%. However, FanDuel surpassed DraftKings in terms of revenue as it generated $30.2 million in profit with a 14% hold rate.
Next Steps for Illinois
As mentioned above, Governor JB Pritzker has signed legislation that will see the in-person registration requirement end on March 5. This will likely lead to more growth in the state’s sports betting market. Additionally, that legislation allows bettors in Illinois to place wagers on in-state colleges, which is not currently available.
The Chicago City Council also came to a decision on December 10 to allow professional sports stadiums to launch their own sportsbook. According to Chairman Rob Ricketts, the Chicago Cubs are “ready to go.”
Top 6 Renowned Casino Software Providers for 2023
In recent years, the iGaming industry has been one of the most competitive fields, and…
Top 10 Most-Watched Sports in the USA in 2023
The number of sports fans in the US and around the world has increased steadily…
Sports Betting Advances in North Carolina
Sports betting in North Carolina takes another step forward as latest sports betting Bill progresses…
Mattress Mack has his say on responsible gambling
A $75 million sports wagering win can buy you lots of things, but one of…
Can You Use a Prepaid Card on DraftKings?
As one of the most popular DFS and sports betting providers in the US, you…
SBK to launch new sportsbook in Indiana
SBK to launch sportsbook in Indiana The SBK sportsbook app developed by Smarkets will be…