There seems to be no end to the increasing amount of dollars flowing into Land of Lincoln sportsbooks.
Illinois sports betting hit a state-record handle for the third consecutive month with a November total of $1.4 billion, up 18.5% from October’s $1.17 billion, according to figures released by the Illinois Gaming Board.
The November handle was up 34% year-over-year and put the Land of Lincoln at $10 billion wagered in 2023, with December’s numbers still to come.
November has been especially strong across the nation in terms of action, and Illinois showed no signs of slowing down.
The handle topped a billion for the third consecutive month and eighth all-time as Illinoisians are capitalizing on the combination of football and basketball seasons.
Hoops accounted for 28.6% of all dollars wagered in November with football bringing in 26.8% of the total handle, a combination of $766 million of the $1.4 billion.
Revenue slips
While the handle increases are impressive, the sportsbooks were unable to capitalize on the heavy sports month. Revenue dropped 35.5% month-over-month to $72.7 million. Sportsbook profits were down 25% year-over-year state-wide.
November was an especially strong month for sports betting customers as the 5.3% hold was nearly 4.5 points lower than the previous month.
The Land of Lincoln filled its coffers with $10.9 million of tax revenue in November with more than $761,000 going to Chicago.
FanDuel leads online operators
Online sports betting made up 97% of the November handle while retail accounted for $38 million.
FanDuel’s handle of $511 million for the month represented 38% of all online operators. A 4.5% hold led to $23 million in revenue.
DraftKings has the second-highest handle in the Land of Lincoln with $463.9 million wagered. Its 6.1% win rate led to $28 million in profits.
BetRivers just missed out on $100 million but its $93.1 million was third-highest. ESPN Bet, which took over in November as PENN Entertainment’s platform, generated a handle of $81.1 million while Caesars recorded $75.2 million in wagers.
