That was an 8% increase over the previous record-setting month and nearly $300 million more than was wagered at this time last year. The November handle was the eighth time in state history IL sportsbooks reported $1 billion or more in betting handle.
The Illinois tax collectors charged the eight licensed Illinois bookmakers $10.9 million in taxes for the right to do business in the state.
FanDuel, DraftKings Top Mobile Markets
While the betting world had its collective eyes on ESPN BET, New York City-based FanDuel took home the top honors in the state, reporting a whopping $510 million betting handle. That earned FanDuel $23.2 in November revenue on a 4.7% hold.
DraftKings Illinois handled a second-best $463.9 million in wagers, but their $28.2 million in revenue topped the state’s eight mobile operators. They accomplished this on a 6.1% hold, making it another successful month for the Boston-based bookmaker.
ESPN BET made a huge splash in November. The sportsbook formerly known as Barstool Sportsbook handled $81.1 million in Prairie State action. The newly-skinned PENN betting site reported a strong 9.4% hold rate, and it will be interesting to see how the newly minted ESPN BET fares after the free bets begin to decline.
Caesars IL is still hanging tough in the state. They accepted $78.7 million in wagers during December but were hit hard by Illinois bettors. The famed gambling company generated only $286,000 on a 0.4% hold for the month.
BetMGM proved it’s still a top Illinois betting destination, handling $50 million with earnings of $2.1 million. That was done on a 4.3% win rate, and the Vegas-based resort behemoth is still proving it knows how to make money in the sports betting industry.
BetRivers had a nice November. Their $50.9 million handle with $6 million in November profit on a 6% hold rate was a good sign for the betting company.
Circa Sports handled $12 million with a 0.7% hold, resulting in a meager $81,990 in revenue. That was a positive sign for the Vegas-based company, and in the first month of their two-month existence, they showed some signs of profitability.
Parlay, Parlay, Parlay
Finally, parlays accounted for 60% of the eight bookmakers’ November revenue. Parlays, teasers, multipliers, same-game parlays, and other gimmicks netted the bookies $44.9 million profit on $390.1 million parlay bets resulting in an 11.2% win rate on sucker bets.
