One of the last states to report March figures, Illinois followed a similar trend as many legal sports betting U.S. states.
The Land of Lincoln saw increased wagering during the NCAA men’s and women’s basketball tournaments.
While the Illinois Gaming Board doesn’t separate college from NBA numbers, the state’s operators generated an all-time basketball handle of $633.7 million, up 23% from March 2023. Revenue reached $26 million on a hold of around 4%.
March as a whole produced a handle of nearly $1.3 billion, up 18% year-over-year, while monthly revenue reached $99.4 million, according to the IGB this week.
Profits jumped 8.5% year-over-year while online and retail operators in the Land of Lincoln combined for a 7.9% hold despite favorites Connecticut and South Carolina winning titles in March.
Illinois hauled in $14.9 million in tax revenue for the state. Cook County, which comprises Chicago, filled its coffers with $1.1 million in taxes from operators.
Better than February
The March handle crossed $1 billion for the seventh consecutive month and increased more than 20% month-over-month. Despite producing a similar hold, revenue jumped 19% from February when the Super Bowl helped produce nearly $2.5 million in football losses for sportsbooks.
The $56 million revenue from parlays made up the majority of March profits. Tennis produced over $5 million, the second highest among individual sports.
Quite the combo
| Operator | March Handle | Gross Revenue |
|---|---|---|
| DraftKings | $461.1 million | $32.8 million |
| FanDuel | $453.3 million | $41.4 million |
| BetRivers | $79.8 million | $6.5 million |
| ESPN BET | $62.7 million | $4.7 million |
DraftKings and FanDuel combined to take in nearly 70% of the dollars wagered in Illinois during March. Both also came close to setting record highs in monthly handles.
FanDuel generated $8.6 million more than DraftKings in profits, thanks to a 9.5% hold that was more than two points higher than its rival. DraftKings did produce a slightly higher revenue than February and went over $30 million in profits for the fourth consecutive month.
BetRivers and ESPN BET finished in the same order as the previous month and both saw increases in handle from February. Basketball also helped BetRivers record an 8.1% hold, second highest among all operators.
Caesars, BetMGM, and Fanatics Sportsbooks also produced monthly handles of over $50 million.
In other news
Beyond the numbers, much is happening with the Illinois sports betting landscape. The Land of Lincoln’s House of Representatives advanced legislation this week that will entertainment restaurant Dave & Buster’s in the state from offering wagering on their arcade games.
There is also a push from Gov. J.B. Pritzker to raise the operators’ tax rate from 15% to 35% to add revenue to the state budget. If approved, it would go into effect July 1. However, a sports betting coalition of several online sportsbooks is asking the public to send letters of opposition to state constituents.
