Illinois ranks third in the nation for sports betting handle in 2022, trailing only New York and New Jersey.
Illinois ranks second in total sportsbook revenue, with only New York surpassing it.
Sports gamblers in Illinois wagered more than $4.75 billion in the first half of this year, surpassing the total sports bets in New York of nearly $8.6 billion and in New Jersey of almost $5.8 billion in 2022.
Illinois’ sports betting revenue in 2022 exceeded $344 million, coming in second only to New York’s revenue of about $608 million. It also outperformed New Jersey, which reported revenue of approximately $309 million in the first half of the year.
Illinois handle up 48%, tax revenue up 34% over 2021
This year represents a notable advancement from the previous year, 2021.
In the first half of this year, participants in Illinois sports betting have wagered over $4.75 billion, marking a 47% increase from the total amount bet in the first half of 2021, which was over $3.2 billion.
In Illinois, revenue from sports betting has surged by 34%, jumping from over $256 million in 2021 to more than $344 million in 2022.
Illinois sportsbooks brought in approximately $55 million in tax revenue in 2022, which includes state and local taxes. This marks a 34% increase from the more than $41 million in total taxes collected in the first half of 2021.
And yet, Illinois sports betting handle is down 35% since March
However, June saw the Illinois sports betting handle decrease for the third month in a row following the record handle set in March in the Prairie State.
Illinois gamblers wagered more than $628 million on sports in June.
That’s down:
- 18% of the over $764 million handled in May was accounted for.
- In April, more than $839 million was wagered, with 25% of that amount being bet.
- Out of the $971 million wagered in March, 35% was accounted for.
The dog days of summer Illinois sports betting
The decrease in numbers since March is partially due to the restricted summer sports schedule.
Sports betting typically experiences a notable decline when the NFL, NCAA March Madness, NBA, or NHL seasons are not in progress, with only the MLB offering significant opportunities for wagers. The struggling Chicago Cubs and the mediocre performance of the White Sox are expected to have an additional impact on betting activity.
Despite the popularity of other sports, baseball remained the most wagered-on sport in Illinois, with over $222 million in bets placed in June. This represents roughly 35% of the state’s overall sports betting activity for the month.
Tennis sets Illinois sports betting record
Another positive development has been the increase in tennis betting.
Illinois bettors broke a monthly record in June by betting nearly $87 million on tennis, marking a 23% increase from the almost $71 million wagered on the sport by residents in May.
Other sports broke down in the following manner:
| Sport | Handle | Revenue |
|---|---|---|
| Baseball | $222,454,854 | $6,646,587 |
| Parlay | $140,452,430 | $20,446,221 |
| Tennis | $86,809,212 | $4,443,793 |
| Basketball | $68,633,592 | (642,825) |
| Other | $29,502,506 | (305,682) |
| Hockey | $25,287,646 | $2,384,544 |
| Soccer | $23,910,269 | $2,222,453 |
| Golf | $16,176,638 | $1,811,889 |
| Combat | $12,370,206 | $3,157,277 |
| Football | $1,775,735 | $729,110 |
| Racing | $1,087,435 | $88,109 |
| TOTAL | $628,459,522 | $40,981,475 |
FanDuel, DraftKings took in 64% of the handle
FanDuel and DraftKings were closely matched and far surpassed their competitors in June.
In June, FanDuel Illinois Sportsbook announced a total handle of more than $201 million, with revenue topping $16 million. Likewise, the Illinois DraftKings Sportsbook saw a handle of over $185 million and revenue close to $11 million during the same period.
In June, the combined total handle for the two operators was $386 million, with revenue around $27 million. This accounted for 64% and 69% of the total for all operators, respectively.
The online operator’s totals were:
| Operator | Handle | Revenue | Tax – State | Tax – Local |
|---|---|---|---|---|
| FanDuel | $201,255,412 | $16,238,758 | $2,493,178 | $188,014 |
| DraftKings | $185,028,918 | $10,825,714 | $1,348,090 | $91,211 |
| BetRivers | $60,399,310 | $4,273,432 | $712,785 | $60,535 |
| PointsBet | $52,453,333 | $2,678,315 | $443,897 | $28,037 |
| BetMGM | $37,565,794 | $1,640,099 | $274,636 | $24,305 |
| Barstool | $35,549,144 | $2,206,965 | $377,684 | $26,393 |
| Caesars | $32,704,603 | $1,512,057 | $209,191 | $10,962 |
| TOTAL | $604,956,513 | $39,375,340 | $4,859,460 | $429,456 |
Are new records coming this fall?
During the summer months, the gambling industry may see a decrease in activity, but Illinois, which is the third largest sports betting market, is poised for a substantial increase in the fall.
Gambling on football is a favorite pastime in the US, and the return of the NFL is expected to greatly increase the amount of money wagered on sports.
