Illinois became the fifth state to surpass $20 billion in sports betting handle (New York, New Jersey, Nevada, Pennsylvania) post-PASPA. The February tally likely will leave the Prairie State as No. 4 in the nation in total betting handle generated post the 2018 post-PASPA ruling.
Land of Lincoln state’s February betting handle was down 18.2% from January, ending a four-month streak of consecutive $1 billion-plus handles but remaining second in the US in betting handle in 2023.
|
State |
Handle (Billions) |
|---|---|
|
New York |
$5.08 Billion (March) |
|
Illinois |
$1.95 Billion (February) |
|
New Jersey |
$1.35 Billion (February) |
|
Ohio |
$1.75 Billion (February) |
|
Nevada |
$1.6 Billion (February) |
Illinois State Tax Revenue on Record Pace
The state received $10.3 million in taxes, while Cook County netted nearly $704,000 from its 2% levy on the $35.2 million in adjusted gross revenue generated on wagers made within the county, which includes the city of Chicago.
The state has received $24.7 million in sports betting taxes through 2023, nearly $9.4 million ahead of last year’s pace.
Top Five Sports Wagered in Illinois
Basketball wagers drove the Illinois sports betting handle, and Prairie State sportsbooks took in nearly $4.6 million in NBA and college basketball wagers. Football betting was down dramatically from January, but likely due to just Super Bowl LVII to bet on.
Despite not having a Grand Slam event to bet on, tennis remained a strongly wagered sport, with soccer and hockey rounding out the top 5.
|
Sport |
Handle |
|---|---|
|
Basketball |
$4,584,639.00 |
|
Football |
$1,724,593.00 |
|
Tennis |
$784,877.00 |
|
Soccer |
$757,479.00 |
|
Hockey |
$573,758.00 |
Parlays
The seven Illinois sportsbooks companies made $42.02 million in revenue from parlay tickets in February. FanDuel led the way, taking in $104.2 million in parlay wagers, with $103.7 million wagered online through the FanDuel website or app.
DraftKings lagged behind their main rival, taking in $103,7 million in “dollar and a dream wagers”, followed by BetRivers ($18.8 million), PointsBet ($13.9 million), and Caesars ($8.2 million).
Reasons for Optimism
The Illinois sports betting numbers have continued to impress, and there are several reasons for optimism as we head into the summer months.
- UEFA Champions League (Until June 23)
- NBA Playoffs (April 11-June 18)
- NHL Playoffs (April 15-June 14)
- NFL Draft (April 27-29)
- WNBA Season (May 19-September 10)
- French Open (May 28-June 11)
- Indy 500 (May 28)
- NBA Draft (June 22)
