Illinois Eclipses $1 Billion In Sports Betting Revenue For 2023

The December revenue report from the Illinois Gaming Board showed that Illinois sports betting in 2023 achieved a new record and reached several milestones.

The report indicates that Illinois sports betting apps and retail providers experienced a surge in revenue in December, likely due to the numerous promotions offered by Illinois sportsbooks during a busy sports season.

The state’s revenue haul enabled it to surpass $1 billion in gross sports betting revenues for 2023, ranking second only to the well-established markets of New York and New Jersey.

In December, Illinois had its second-highest month ever in terms of overall handle for its top sports betting sites. The state’s sports wagering activity in December helped it surpass the $30 billion lifetime handle mark, making it the fourth state, alongside New Jersey, Nevada, and New York, to achieve this milestone.

Illinois records $1.31 billion in December handle

In December, the top sports betting sites and retail sportsbooks in Illinois saw a total of $1.31 billion in wagers, marking the second-highest month for sports betting in the state. November holds the record with $1.38 billion in wagers.

The $1.31 billion figure narrowly exceeds the $1.03 billion reported by the state for December 2022. This marks the sixth time in 2023 that Illinois has surpassed the $1 billion monthly handle mark, bringing the yearlong handle to $11.61 billion, a 19.2% increase from the total in 2022.

Revenue record for Illinois in 2023

Illinois finished 2023 with its highest revenue ever for sportsbooks, bringing in $128.4 million in adjusted gross sports betting revenues in December. This surpassed the previous record of $112.7 million set in October and was a $55 million increase from November’s $73.3 million revenue.

It is $48 million higher than the reported amount in December 2022, thanks to a strong 9.8% hold in December 2023. The win rate increased from 7.9% in December 2022 to 9.8% in December 2023, and was at 5.3% in November.

Illinois sportsbooks achieved a milestone by reaching $1 billion in gross revenues for the year after the December report, exceeding the mark by just $2.3 million. The yearlong figure for December was 26.1% higher than the $795 million in gross sports betting revenues from 2022.

In December, the state collected $19.3 million in taxes from sportsbooks, an increase from $11.67 million in November and over $6 million more than the nearly $13.3 million collected in December 2022. Throughout the year, Illinois sportsbooks contributed just over $150 million in taxes to state and local coffers.

Split decision for Illinois sportsbooks with ESPN BET coming on

In December, the top two legal sports betting sites in the U.S., often referred to as the “Big Two,” dominated different metrics in Illinois. DraftKings emerged victorious in terms of handle, while FanDuel led in revenue.

During the month, DraftKings Illinois generated $455.4 million in wagers and recorded $42.6 million in revenues with a 9.4% hold, despite potential losses from a favorable DraftKings promo code.

In December, FanDuel Illinois saw $439.1 million in accepted bets, making it the first Illinois sportsbook to surpass $50 million in monthly revenues thanks to an 11.8% hold. Despite offering a generous FanDuel promo code, the company still managed to make $51.1 million in profits in Illinois for the month.

In December, ESPN BET Illinois showed strong growth in the Illinois sports betting market, ranking third among the eight betting sites in the state. ESPN BET recorded $96.5 million in wagers and $8.1 million in winnings for the month, with a 19.1% increase in handle compared to the previous month.

In December, ESPN BET surpassed BetRivers Illinois, knocking them out of the bronze-medal position for the first time since June 2020. BetRivers reported $88.9 million in accepted bets, while Caesars Underscoreg Illinois rounded out the top five with $72.6 million in December wagers.

In December, PointsBet Illinois ranked sixth with $62.1 million in bets, followed by BetMGM Illinois in seventh place with $52.7 million in accepted wagers. Circa Sports Illinois came in last with $9.7 million in bets.