With in-person registration requirements gone for good, Illinois sports betting is hitting new heights.
The total handle was a 43% increase compared to the $679.4 million wagered in February. With March Madness in full swing, the handle boost likely comes from the March 5 expiration of an in-person registration requirement for online sports betting.
Illinois sports betting sets record
While the wagers poured in, Illinois sports betting revenue also set a new record. Sportsbooks generated $79.4 million in revenue, an 8.2% hold.
That gross revenue figure is just over the previous record of $78.2 million set in November 2021.
Illinois collected $9.8 million in taxes.
Illinois bettors loved basketball
Basketball made up $554.3 million of the bets in March, or 57.1% of the action.
The March Madness total was up 61.9% compared to the 2021 figures reported from five of the six sportsbooks in the state.
FanDuel grows Illinois sports betting take
Online sports betting accounted for 95.5% of wagers in Illinois, or $927.5 million.
FanDuel paced the growing crowd of Illinois sportsbooks with $310.7 million in online bets. The market leader held 8.7% for $27 million in revenue.
DraftKings took $284.2 million online, holding 4.9% for $13.9 million in revenue. BetRivers reached nine figures in online handle, taking $105.9 million.
New Illinois sportsbook not last
BetMGM entered the Illinois market March 5 and took $43.6 million in bets. That was more than the $39.2 million Caesars handled during the month, the sportsbook’s 19th in the market.
Caesars launched its new platform during March, which likely contributed to it nearly doubling its previous record in the state.
More sportsbooks will enter Illinois soon, as the IGB granted Caliente Interactive an online-only license last month. Circa Sports also announced it will enter the state through a market access deal with American Place Casino Company.
|Operator||Online Handle||Revenue||Hold||Market Share|
|FanDuel||$310.7 million||$27.0 million||8.7%||33%|
|DraftKings||$284.2 million||$14.0 million||4.9%||31%|
|BetRivers||$105.9 million||$8.3 million||7.9%||11%|
|PointsBet||$77.1 million||$7.0 million||9.1%||8%|
|Barstool||$66.8 million||$3.6 million||5.3%||7%|
|BetMGM||$43.6 million||$2.7 million||6.1%||5%|
|Caesars||$39.3 million||$3.3 million||8.5%||4%|