Illinois’ sports betting market continues its impressive growth, reaching new heights in January 2023. According to data from the Illinois Gaming Board, sportsbooks in the state recorded a staggering $1.07 billion in bets during the month, marking a 4% increase from December and a remarkable 23.3% surge from January 2022. This surge has solidified Illinois as a prominent player in the US sports betting landscape.
Key Highlights of Illinois’ Sports Betting Success:
Record-Breaking Handle: Illinois sportsbooks achieved a record-breaking handle of $1.07 billion in January, surpassing the previous high of $1.03 billion set in October. This remarkable consistency in crossing the $1 billion mark for the fourth consecutive month underscores the state’s strong appetite for sports wagering.
Gross Gaming Revenue: The gross gaming revenue (GGR) generated by Illinois sportsbooks in January reached an impressive $88.5 million. This performance positioned Illinois as the third-highest GGR contributor in the US for the month, trailing only Ohio and New York.
Sports Preferences: Basketball emerged as the preferred sport for bettors in Illinois, amassing a substantial handle of $338.1 million. Football followed closely with $221.1 million in bets, and tennis contributed significantly with a handle of $77.2 million.
Top Revenue-Generating Sports: In terms of revenue, football took the lead by generating $15 million, with basketball not far behind at $12.2 million.
Sportsbook Leaders: Key players in the Illinois sports betting market, such as FanDuel, experienced record-breaking monthly handles, with FanDuel alone reaching $371.6 million. DraftKings recorded $331.4 million in bets, while BetRivers contributed $96.6 million. Other operators, including PointsBet and Caesars Sportsbook, also performed well, contributing to the state’s robust betting ecosystem.
Tax Contributions: Illinois sportsbooks made a substantial contribution to the state’s revenue, generating a total tax revenue of $15.4 million in January.
Illinois’ sports betting market is on an upward trajectory, with January 2023 witnessing record-breaking betting activity and revenue generation. The state’s consistent ability to exceed the $1 billion mark in monthly bets reflects the growing popularity of sports wagering among residents. With basketball and football leading the way, and top sportsbook operators achieving remarkable results, Illinois’ sports betting industry continues to thrive, promising significant revenue streams for both operators and the state’s coffers.