Illinois sports betting had its most active month yet, despite no NFL games and a dropin basketball betting during March Madness.
Basketball down, parlays up
However, it was not a new embrace of college basketball that pushed March handle over the top. Rather, bettors are loving the longshot bet-types that sportsbooks are promoting furiously.
Parlays, or bets that combine multiple bets for higher payouts, accounted for $294 million in handle, up $78 million from last March. Basketball betting was down $40 million year-over-year, according to the report. Basketball was still by far the most bet on individual sport, at $513 million, followed by tennis at $80 million, a $17 million uptick from last March.
IL sportsbooks break revenue record
What was a great March for Illinois tax collectors, who took their second most in a month at $15.6 million, was even better for sportsbooks.
Illinois sportsbooks held 10% of total handle, their first double-digit month since September and nearly 2% more than last March. That translated to a record $107.4 million in gross gaming revenue for operators, their first triple-digit month in Illinois.
FanDuel holds IL sports betting handle lead
FanDuel led all operators in handle at $367.6 million, as it typically has each month since Illinois launched.
It was followed by:
- DraftKings: $325.4 million
- BetRivers: $95.8 million
- Caesars: $78.5 million
- BetMGM: $57.7 million
- PointsBet: $56.8 million
- Barstool: $48.4 million
Among 25 states to report March revenue, Illinois was second in handle behind New York. It marks the fifth billion-dollar month in three years for Illinois, each occurring over a streak of the last five months.