Illinoisans set a new state sports betting record with $1.6 billion in wagers during October.
Key Takeaways
- Illinois sports bettors surpassed the previous handle high of $1.53 billion set in November 2024.
- An 8.4% hold on that huge handle led to the fourth-highest adjusted revenue total.
- DraftKings and FanDuel saw the amount of wagering drop despite the handle spiking.
The Illinois Gaming Board recently reported an 11% year-over-year handle increase, and October’s heavy volume month beat out November 2024’s previous record of $1.53 billion.
A full month of NFL and college football collided with the Major League Baseball postseason and the start of the NBA and NHL regular seasons, helping Illinois become the third state, behind New York and New Jersey, to have produced a $1.6-billion handle.
Behind an 8.4% hold, online and retail sportsbooks generated $135 million in adjusted revenue, the fourth-highest total ever in Illinois, in October. Operator profits spiked 66.7% compared to October 2024, and it was the sixth month to eclipse $100 million in adjusted revenue.
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Passing a milestone
The Prairie State’s per-wager tax continued to affect online sportsbooks. Despite the statewide increase in handle, FanDuel and DraftKings reported over 25% declines in betting volume each compared to October 2024.
A more than 30% increase in parlay wagering helped DraftKings produce more dollars wagered. FanDuel’s multi-leg mix was up 3%.
Both mobile operators have added surcharges to their customers’ wagers to offset the 50-cent per-wager tax. FanDuel paid out a state-leading $6.8 million in October, while DraftKings was responsible for $5.6 million to the state in the fourth month of the wagering tax.
The Prairie State made $14.7 million from the monthly add-on, generating $41.5 million total from sportsbooks in October. The latest tax haul was up 70% compared to the same month last year, and Illinois has surpassed $1 billion in sports-betting tax revenue since wagering began in 2020.
DraftKings leads wagering
| Online Operator | October Handle | Adjusted Revenue |
|---|---|---|
| DraftKings | $563.4 million | $49.4 million |
| FanDuel | $493.9 million | $46 million |
| Fanatics Sportsbook | $118 million | $10.2 million |
| BetRivers | $86.1 million | $7.4 million |
| BetMGM | $76 million | $5.4 million |
| bet365 | $69.4 million | $5.5 million |
DraftKings experienced a nearly $60-million month-over-month increase in dollars wagered during October, leading Illinois with a $563.4-million handle. FanDuel was second with $493.9 million, and both operators were unable to reach a double-digit win rate but still combined for 72.3% of the $131.9 million in online adjusted gross revenue.
Fanatics generated $118 million in wagers for the second consecutive month and $10.2 million in revenue, a 43% increase from September. BetRivers finished fourth with an $86.1-million handle and $7.4 million in revenue, a nearly $3-million month-over-month spike.
BetMGM and bet365 were the only other two online operators to reach $5 million in revenue.
Tax concerns
Chicago’s proposal to add its own sports betting tax recently found an opponent. City council member Gilbert Villegas warned in a letter to the Chicago Tribune this month that adding another wagering tax would drive bettors in the state’s largest metropolitan area out of the market and potentially lead to lawsuits.
The Sports Betting Alliance recently claimed Illinois experienced a 15% year-over-year sports betting decrease in September. The group of operators also said the state’s wagering tax is pushing bettors to illegal sportsbooks.
