Illinois sports betting revenue has been on a roll recently, seeing more than a billion dollars wagered in four consecutive months. The January 2023 report has been released. This shows that more than $1,070,033,292 was wagered on sports during that time.
Illinois saw $1 billion in betting handle for the first time in October 2022 and has not seen less than $1 billion wagered since. January’s betting handle also shows a 4% growth month over month from December’s $1.03 billion and a 23% growth year over year from $867 million wagered in January 2022.
Illinois Dominance Continues
The strong January ranked Illinois fourth in the U.S. betting market, only trailing behind New York, Ohio, and New Jersey. Illinois was overtaken by Ohio in the nationwide rankings, however, as the Prairie State was initially the third biggest market.
Top US Sports Betting Markets January 2023 (Handle)
- New York ($1.8 billion)
- Ohio ($1.1 billion)
- New Jersey ($1.08 billion)
- Illinois ($1.07 billion)
- Nevada ($936 million)
Even with this dip in position, Illinois remains a top sports betting state that has seen constant growth since its launch. The growth has continued with revenue as well. Illinois sports betting revenue saw the market ranked third in the U.S. for January 2023. A reported $88,552,064 was held by Illinois sportsbooks in gross gaming revenue (GGR). The state collected $15,410,653 in taxes.
Revenue growth is reflective of the handle growth in Illinois. Sportsbooks saw $81.4 million in GGR in December. The Illinois market is one of the largest in the nation in terms of both betting handle and sports betting revenue.
FanDuel Dominates Illinois Market
FanDuel saw the most betting handle and sports betting revenue in January. $373,531,524 was wagered during the month and the sportsbook saw an 11.7% hold rate on wagers for $43,749,204 in GGR. DraftKings came in second place with a betting handle of $336,933,843 and a GGR of $23,860,260 off of a 7.1% hold rate.
BetMGM’s $110,376,255 handle and $7,905,399 GGR rounded out the top three sportsbooks in Illinois. FanDuel, DraftKings, and BetMGM have consistently seen more action than the rest of the market in Illinois on a monthly basis. They have fully established themselves with the largest market share.
Illinois could continue to see billion-dollar months in the near future. February will account for Super Bowl wagers and March will see March Madness betting prevalent. Just how long can Illinois maintain this billion-dollar streak?
