The Sports Betting Volume Makes it Return in Illinois for September as the NFL is the Major Catalyst for the Market
The Illinois Gaming Board reported its numbers for September as football made its long-awaited return. Both retail and mobile sportsbooks combined to register a handle of $831.8 million in wagers.
Monthly Revenue Numbers Show a Solid Jump
The adjusted revenue numbers for the month registered a total of n $78.4 million, missing the all-time record, which was established last November by less than a $1 million margin ($79.3 million). Still, the figures were ranked 16th overall in the industry’s history.
The summer slowdown was a tough couple of months for Illinois and the rest of the industry. However, September 2022’s handle showed that the numbers are headed in the right direction, as it was a major step up from August’s $564.8 million in action and September 2021’s $596.5 million.
The average hold rate for sportsbook operators in the Prairie State was 9.4 percent. With an exact 9.43 percent hold rate, Illinois is only the third state to have a win rate under 10 percent for September, ahead of only New Jersey’s 9.4 percent and Nevada’s 9.3 percent. Arizona has yet to report its results, as the Copper State is a bit behind.
Regardless of the win rate results, Illinois has done a solid job overall. The Prairie State has hit another milestone, as the jurisdiction is one of the most prominent markets in the industry. The state received $11.8 million in tax receipts, as the year’s total is closing in on $80 million, and $175 million since the operation began.
Taking a Look at the Market Leaders by Bookmaker
FanDuel and DraftKings continue to be the leaders in the industry; however, DraftKings has goals to close the gap with its major competitor. In regards to handle for the month, DraftKings overtook the leaderboards as the platform accepted $291.9 million in bets, while FanDuel brought in $240.9 million.
However, DraftKings has a lot of work in the revenue department as the figures sway towards FanDuel. FanDuel set a new all-time revenue record in the state with $35.9 million due to a massive win rate of $35.9 million. DraftKings secured second place with $20.3 million, which is slightly behind their all-time high of $21 million in the state, which was set last November.
BetRivers grabbed third place in both categories with g $88.4 million in bets and $7.8 million in revenue. This was the bookmaker’s highest revenue total since January’s record of $10.2 million.
PointsBet was next in line with $55.3 million in wagers. The only blemish is that the operator had the lowest win rate among the seven online operators, as it only managed to register a hold rate of just 4.8 percent.
PointsBet may be the reason why the state fell short of the record as the bookmaker accepted a six-leg parlay which paid out $65,000. If the parlay missed, the operators would have jumped to 10.2 percent for the month. In terms of handle, BetMGM rounded out the top five, and Caesars ranked fifth in the mobile handle alone.
Football is King in Illinois
Bettors across the state waited for the NFL to make its return. Football led the way with $292.3 million. Baseball made its final push for the year due to the playoffs with approximately $139 million.
In addition, parlays accounted for $198.9 million of the overall market. November should bring solid numbers, as basketball and hockey will be factored in the numbers.