Land of Lincoln sports betting generated 13.5% more in Dec. 2024 compared to the same month in 2023, but operators hauled in 17.7% less hold. The Illinois Gaming Board reported a $1.49 billion December handle, a 2.6% decrease from Nov. 2024’s record-setting month.
The state followed a similar pattern as other markets. NFL favorites had a successful run that led to a profitable month for bettors.
Illinois’ online and retail sportsbooks produced $105.7 million in revenue, the fourth-highest of 2024 but second lowest during football season behind October’s $81.1 million. Revenue suffered a 31.6% month-over-month decrease behind a 7.1% handle. It was the third-lowest win rate of 2024 and down 2.7 points year-over-year.
Filling coffers
Sports betting operators paid out $35.1 million in state taxes during December, down from $48.2 million Illinois hauled in the previous month, and another $1.03 million to Chicago’s Cook County.
Despite the monthly drop-off, the state’s progressive tax rate that took effect in July and the uptick in sports betting became a windfall. Illinois filled its coffers with $263.8 million last year, a 75% increase from 2023’s $150.3 million in sports betting taxes.
Gov. JB Pritzker pushed to raise the sports betting operator tax from 15% to a tiered format that starts at 20% and rises to as much as 40%. He projected last year the hike would generate at least $100 million more per year to fight a growing budget deficit.
“This budget builds on years of economic momentum that is revitalizing communities up and down the state of Illinois,” Pritzker said after signing a budget including the progressive tax rate last year. “We are on a trajectory of sustainable long-term growth.”
| Operator | December Handle | Revenue |
| DraftKings | $508.2 million | $32.9 million |
| FanDuel | $500 million | $41.7 million |
| Fanatics Sportsbook | $105.5 million | $9.3 million |
| BetRivers | $89.4 million | $6 million |
| BetMGM | $74.7 million | $8 million |
| Caesars | $66.2 million | $2.8 million |
Online sports betting accounted for $1.45 billion of the total December handle but still got the hold to just above 7%.
DraftKings generated the highest handle with $508.2 million, but was still down nearly $20 million from November’s highest total ever. A modest 6.5% win rate produced $32.9 million in revenue, a 42.6% fall from the previous month.
FanDuel also got $500 million in wagers, but the online book enjoyed a higher 8.3% hold that led to a state-best $41.7 million in December revenue. Fanatics Sportsbook was the only other operator to reach $100 million in bets, but revenue fell month-over-month from $11.4 million to $9.3 million.
BetRivers’ $89.4 million handle was higher than November’s, and the operator had an 8.4% hold. BetMGM’s 10.7% hold on a $74.7 million handle was the state’s highest in December, and included a $5 million revenue adjustment in its monthly figures.
Caesars rounded out the top six with a $66.2 million handle and $2.8 million profit. ESPN BET wasn’t far behind with $60.3 million wagered and $2.7 million in income. Hard Rock Bet made nearly $1.5 million on a $35 million handle while Circa Sports suffered a $257,000 loss in December on a $13.3 million handle.
Big year for betting
Illinois generated $14 billion in wagers in 2024, the most ever in a single year and a 20.7% increase from 2023. Operators combined to produce $1.2 billion in revenue from an 8.6% hold.
DraftKings accounted for $5 billion of the state’s 2024 handle with FanDuel second at $4.6 billion. Those two operators combined for $1 billion in revenue with FD producing an 8.3% hold to DKs’ 6.5% win rate.
