IL Sportsbooks Revenues Dip In December, But Better Days Ahead

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IL sportsbooks

Illinois sports betting took a step back in December.

The state posted $36.7 million in revenue, down nearly 50% from a record November.

The downturn was driven by bettor-friendly results as Illinois sportsbooks held 4.6% of all wagers, after recording 10% hold in November.

December handle was relatively steady at $789.6 million, per the IL state report. That was up about $10 million from last month.

NFL remains king

Football and NFL betting continued to drive activity, accounting for a third of all betting handle. However, hold was a lowly 2.7%, meaning $265 million in handle generated just $7.2 million in revenue.

Basketball was next most popular with 28% of handle, generating $6.5 million in revenue.

Parlays made up 22% of IL betting handle but created $19.4 million in revenue thanks to an 11% hold.

Who led IL sportsbooks?

FanDuel was the largest brand by revenue with a 38% market share.

BetRivers and DraftKings checked in with 21% and 20%, respectively.

Books paid about $5.4 million in local and state taxes.

More growth to come for IL sportsbooks?

Illinois established itself as a top legal US sports betting market in 2021, often trailing behind just New Jersey sports betting and Nevada sports betting in terms of handle.

The state also has some catalysts for growth going forward. The in-person registration restriction will disappear March 5, likely fostering more growth in the state.

BetMGM has also said it will go live around that date, after securing an IL license in January following a 16-month wait.

Stadium sports betting on the way for Chicago

In addition, the Chicago City Council voted in December to allow retail sportsbooks at professional sports venues.

FanDuel and DraftKings already announced deals for stadium sportsbooks, which should boost retail handle.

FanDuel will operate at the United Center, home of the Chicago Bulls and Chicago Blackhawks. DraftKings will have a book inside the Cubs’ Wrigley Field.

Other retail venues up for grabs include: