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Illinois Posts Another Monster Month (November) for Sports Betting

Illinois Posts Another Monster Month (November) for Sports Betting

Illinois could be the next state to hit the billion-dollar sports betting handle mark at some point in 2022. The state’s overall handle was $779.85 million, as reported by the Illinois Gaming Board. This was good for third place in the industry, just behind New Jersey’s $1.258 billion and Nevada’s $1.086 billion.

Illinois continues its strong sports betting handle trend

The states that followed Illinois sports betting handle were Pennsylvania and Michigan. Despite the strong figures, November’s total handle showed a decrease of 7.2 percent compared to October’s handle. It’s important to note that October’s calendar featured five weekends instead of the traditional four.

October was also when the majority of the World Series was played. That was just an aspect of a busy month that October brought to the industry. Illinois’ strong handle is on the verge of pushing the national handle to over $7 billion for the second straight month.

Illinois sports betting handle might have been lower for the month, but the schedule favored the house this month. The sportsbook operators that operate in the state posted a record $79.3 million in adjusted revenue. The record revenue was due to the bettors missing a plethora of parlays as operators collected $44 million.

The revenue figures were the sixth-highest total of the post-PASPA era. Illinois was also the fourth state to surpass the $70 million revenue mark for the month after Nevada set the bar with close to $72 million. Illinois is close to being the third state to clear the $6 billion state handle for 2021.

Sportsbooks had a strong handle for November as it hit 10.16 percent. The state all-time was set back in July, which hit 10.19 percent.

Mobile sports betting was also down 7.2 percent for the state as bettors wagered $745.96 million on online platforms when compared to $803.44 million in October. Mobile sports betting made up 95.6 percent of the wagers placed for the month.

As expected, football was the most wagered sport once again, with a total of $256.4 million in accepted wagers. The sports that followed were basketball ($225.8 million), tennis ($39.7 million), soccer ($27.6 million), and NHL ($23.4 million). November’s football handle might have gone up because of the Thanksgiving Day games, which included the Chicago Bears 16-14 victory over the Detroit Lions.

What sportsbooks took most of the market share

The parlay handle made up $166.4 million or 21.3 percent of the total handle for the month. DraftKings Sportsbook claimed the top spot in Illinois for the seventh consecutive month as $283.8 million represented 38 percent of the mobile sports betting handle.

FanDuel Sportsbook was next with $214.4 million in accepted wagers that combined for 28.7 percent. Both online operators set monthly revenue records, with FanDuel having a commanding revenue difference of more than $9 million. The two sportsbooks had a combined revenue total of 30.1 million.

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