The return of the NFL sparked a new record for adjusted gross revenue and the best wagering September that Land of Lincoln sports betting has ever seen.
The Illinois Gaming Board reported that online and retail sportsbooks combined to haul in $136.4 million in the first month of the football season, beating out January’s $135.2 million for the highest profits ever.
Because of more operator-friendly outcomes in college and NFL compared to September 2023, adjusted gross revenue increased by 58.2% year-over-year.
The September handle of $1.31 billion jumped 21.3% from September 2023, which was the first football kick-off month to reach $1 billion last year. The amount wagered came close to the all-time mark of $1.38 billion set in November 2023, and the latest amount wagered reached $1 billion for the sixth month in 2024.
The 10.4% hold on all sports wagers was the first double-digit win rate since June in the Land of Lincoln. Handle jumped 50% compared to August while revenue rose 130% month-over-month.
Tax rate taking effect
Behind a new tax rate that went into effect in July, Illinois filled its coffers with a whopping $37.3 million, nearly $24 million more than in August. Cook County, which encompasses the Chicago area, hauled in $1.3 million from sports betting operators.
This time last year, the Land of Lincoln brought in a total of $12.9 million in tax revenue, so Gov. JB Pritzker’s plan to generate more money for the state through a tiered system is working.
The rates start at 20% on revenue of $30 million or less and increase 5% each level to 40% on adjusted revenue of $200 million or more.
Online operators flourish
| Operator | September Handle | Adjusted Revenue |
|---|---|---|
| DraftKings | $494.4 million | $47.7 million |
| FanDuel | $403.4 million | $53.7 million |
| Fanatics Sportsbook | $95.4 million | $10.6 million |
| BetMGM | $71.4 million | $5.1 million |
| BetRivers | $70.2 million | $8.8 million |
| Caesars | $53.1 million | $4.8 million |
Online sports betting in Illinois generated $132.6 million of the record revenue in September.
FanDuel led the way with $53.7 million but finished second in mobile handle behind DraftKings, which generated $494.4 million of bets for the month. FanDuel’s hold of 13.3% outpaced DraftKings’ win rate by nearly four points.
Fanatics Sportsbook continued its success with another record-setting month in the Land of Lincoln. The online operator set highs with a handle of $95.4 million and adjusted revenue of $10.6 million.
BetMGM took in just a little over $1 million more than BetRivers, which enjoyed a 12.5% hold to produce better revenue of $8.8 million. Caesars was the only other operator to reach $50 million in wagers during September.
Newcomer Hard Rock Bet generated a $15.8 million handle and produced $1.5 million in revenue during September, its first full month operating in Illinois.
Football dominates
Football unsurprisingly led all single sports in wagers during September. The NFL and college football combined to generate $446.6 million, about 36% of all betting. Parlays, which certainly featured plenty of football legs, accounted for $396 million of the total handle.
Baseball, which featured the end of the regular season in September, took in $160.3 million for the month while “other” sports generated $91.7 million. Tennis rounded out the top five with a handle of $90 million.
