Illinois’ sports betting industry achieved a new milestone in September, recording its highest-ever monthly revenue of $136.4 million. Although the total betting handle of $1.31 billion was substantial, it narrowly missed the state record of $1.38 billion set in November 2023.
NFL kick-off spurs betting boom ?
The start of the NFL season fuelled the?sports betting activity?as the $1.31 billion wagered in September marked a 21.5?percent?increase compared to the same month in 2023 and a 49.2?percent?jump from August 2024. Most of this came from online bets, which accounted for $1.27 billion, while retail sportsbooks contributed $34.9 million. ?
Professional sports dominated the betting landscape, with $1.12 billion in wagers. College sports followed with $177.1 million, while motor racing and other sports trailed at $753,685 and $5.3 million, respectively, reports the Illinois Gaming Board. ?
Operator rankings shake up ?
September saw a shift in Illinois’ operator standings, with FanDuel regaining its lead over DraftKings. FanDuel, in partnership with Fairmount Park, recorded $53.7 million in revenue from $404.4 million in bets, achieving a 13.27 percent hold rate.
DraftKings, collaborating with Casino Queen, fell to second place despite handling a higher volume of bets at $501.5 million. Its revenue totalled $47.7 million, with a hold rate of 9.51?percent. The operator attributed its lower margin to favorable NFL outcomes for players, impacting early Q4 results. ?
Fanatics, partnered with Hawthorne Race Course, secured third place with $10.6 million in revenue from $99.3 million in wagers, reflecting a 10.67 percent hold rate.
BetRivers, operated by Rush Street Interactive in partnership with Midwest Gaming & Entertainment, ranked fourth. The sportsbook reported $8.8 million in revenue from $81.1 million in bets, with a hold rate of 10.85 percent.
Among newer entrants, ESPN Bet, paired with Hollywood Casino Aurora, posted $3.5 million in revenue from $55.2 million in wagers, achieving a 6.34 percent hold rate. Hard Rock, which launched its sportsbook offering in August, recorded $1.6 million in revenue from $17.4 million in bets, with a 9.2 percent hold.
Adjusted gross revenue ?and tax contributions?skyrocket??
Adjusted gross revenue (AGR) surged to $136.4 million, eclipsing the previous state record of $135.2 million set in January 2024. This figure represented a 58.6 percent increase year-over-year and a 130.4 percent rise from August.
Online sportsbooks contributed the bulk of the revenue, generating $132.6 million, while retail venues added $3.9 million. The overall hold rate for September stood at 10.40 percent.
Illinois collected $37.3 million in sports betting taxes for September, a 168.3?percent?increase year-over-year. This jump reflects the impact of the state’s revised tax structure, implemented in July, which replaced the flat 15?percent?rate with a tiered system ranging from 20?percent?to 40?percent, depending on handle size. ?
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