Illinois isn’t just hanging with the big boys when it comes to legal sports betting.
Land of Lincoln is one of the big boys, as the state climbed back into the billion-dollar handle business in March for the fifth time in six months.
The Illinois Gaming Board reported that retail and online sports betting sites combined to take in $1.07 billion, matching a mark set in January and bouncing back from the $875.4 million handle from February.
Only New York was higher nationally in March, and Illinois sports betting moved into third all-time over Pennsylvania in handle at $21.7 billion. Illinois’ big number was up 10.4% year-over-year, and $97.1 million in March marked the second-best revenue haul in state history.
Revenue was up 49% month-over-month, thanks to college basketball action, and operators’ hold rose from 7.8% in February to 9% in March.
Land of Lincoln pulled in $14.6 million in tax revenue while Cook County (including Chicago) snagged $1.07 million on its 2% tax rate from adjusted gross wagering receipts on bets made within the city.
March profits pour in for FanDuel, DraftKings
March Madness proved very profitable for Illinois mobile operators, especially the well-established sportsbooks.
FanDuel hit big with revenue of $40.1 million on a mobile handle of $369 million to finish tops in the state.
DraftKings came in second in both online handle ($328.6 million) and revenue ($27.1 million) while BetRivers was third in revenue with $8.3 million. PointsBet hauled in $6.2 million in revenue.
While online sports betting made up 96% of Illinois’ March handle and revenue, brick-and-mortar sportsbooks still brought in nearly $34 million in wagers and $3 million in profits.
Illinois’ operators will get more competition later this year when Circa Sports, which is aiming for an August launch, enters the market.
