Illinois Sets new Monthly Sports Betting Revenue High
The return of the NFL sparked a new record for adjusted gross revenue and the best wagering September that Land of Lincoln sports betting has ever seen.
The Illinois Gaming Board reported that online and retail sportsbooks combined to haul in $136.4 million in the first month of the football season, beating out January’s $135.2 million for the highest profits ever.
Because of more operator-friendly outcomes in college and NFL compared to September 2023, adjusted gross revenue increased by 58.2% year-over-year.
The September handle of $1.31 billion jumped 21.3% from September 2023, which was the first football kick-off month to reach $1 billion last year. The amount wagered came close to the all-time mark of $1.38 billion set in November 2023, and the latest amount wagered reached $1 billion for the sixth month in 2024.
The 10.4% hold on all sports wagers was the first double-digit win rate since June in the Land of Lincoln. Handle jumped 50% compared to August while revenue rose 130% month-over-month.
Tax rate taking effect
Behind a new tax rate that went into effect in July, Illinois filled its coffers with a whopping $37.3 million, nearly $24 million more than in August. Cook County, which encompasses the Chicago area, hauled in $1.3 million from sports betting operators.
This time last year, the Land of Lincoln brought in a total of $12.9 million in tax revenue, so Gov. JB Pritzker’s plan to generate more money for the state through a tiered system is working.
The rates start at 20% on revenue of $30 million or less and increase 5% each level to 40% on adjusted revenue of $200 million or more.
Online operators flourish
Online Illinois sports betting generated $132.6 million of the record revenue in September.
FanDuel led the way with $53.
The return of the NFL sparked a new record for adjusted gross revenue and the best wagering September that Land of Lincoln sports betting has ever seen.
The Illinois Gaming Board reported that online and retail sportsbooks combined to haul in $136.4 million in the first month of the football season, beating out January’s $135.2 million for the highest profits ever.
Because of more operator-friendly outcomes in college and NFL compared to September 2023, adjusted gross revenue increased by 58.2% year-over-year.
The September handle of $1.31 billion jumped 21.3% from September 2023, which was the first football kick-off month to reach $1 billion last year. The amount wagered came close to the all-time mark of $1.38 billion set in November 2023, and the latest amount wagered reached $1 billion for the sixth month in 2024.
The 10.4% hold on all sports wagers was the first double-digit win rate since June in the Land of Lincoln. Handle jumped 50% compared to August while revenue rose 130% month-over-month.
Tax rate taking effect
Behind a new tax rate that went into effect in July, Illinois filled its coffers with a whopping $37.3 million, nearly $24 million more than in August. Cook County, which encompasses the Chicago area, hauled in $1.3 million from sports betting operators.
This time last year, the Land of Lincoln brought in a total of $12.9 million in tax revenue, so Gov. JB Pritzker’s plan to generate more money for the state through a tiered system is working.
The rates start at 20% on revenue of $30 million or less and increase 5% each level to 40% on adjusted revenue of $200 million or more.
Online operators flourish
Online Illinois sports betting generated $132.6 million of the record revenue in September.
FanDuel led the way with $53.