Some big things are happening (and continue to happen) in Illinois in relation to sports betting. Per a recent report from a major media outlet in the U.S., Illinois has an incredibly strong sports betting market and in 2023, ranked only behind New York and New Jersey in total sports betting handle. With May’s online sports betting total reported, Illinois has added yet another month with more than $1 billion in sports betting handle to their ledger according to the same report. This is the ninth straight month in which the state has eclipsed that mark. To highlight the achievement, Illinois is just one of five states to ever reach the $1 billion monthly handle, the others include New Jersey, New York, Nevada, and Ohio.
For this report, SBS will be going over what to look for from the latest gaming news coming from the great state of Illinois, as well as some more notes and info for the region.
Per the same report, there was little doubt that sports betting would be a massive success in Illinois. It’s the sixth-largest state in the country based on population. The Cubs, White Sox, Bears, Blackhawks, and Bulls are all part of the state’s identity. Also, the Midwest of course loves its sports, and Illinois is a shining example of that. With May’s online sports betting total reported, Illinois has added yet another month with more than $1 billion in sports betting handle to their ledger. Recently, the state reported a sports betting handle of $1,015,279,112 for the month of May. That number is down from $1.1 billion in April. The state’s all-time high betting handle was in November 2023, when the books brought in nearly $1.4 billion in sports bets.
A look at 2023 as a whole will highlight just how much of a powerhouse Illinois is in the sports betting market, at least according to one report. The state brought in $11.6 billion in sports betting handle for the year. That is the third-highest number in the country behind New York ($19.2 billion) and New Jersey ($11.97 billion). DraftKings took in the majority of the betting dollars among Illinois sportsbooks in May. Moreover, it processed $386.4 million during the month alone. FanDuel was right behind, accepting $340.1 million for the month. The gap to No. 3 is shockingly wide though, as the third-highest betting handle came at BetRivers, who accepted just about $66 million in total handle.
As noted in the report, the sports betting industry has been a booming success in Illinois. In fact, it has been so successful that the state government apparently realized they were leaving too much money in the pockets of sportsbook operators. As a result, Illinois made some changes to its tax rates for sports betting operators. Operators like DraftKings and FanDuel will now be taxed at 40% of their revenue, which is up from the 15% rate they were taxed up until this point. Obviously, with their tax rate more than doubling, there is concern as to how these operators will react. One concern is that there may be a dry spell in terms of promotions and offers for Illinois bettors. Sign-up offers and daily boosts might not be as lucrative or readily available as they have been for the past few years.
Noted in one article, the last time Illinois failed to reach $1 billion in sports betting handle was back in August of 2023. Of course, we know that was in the heart of summer before football returned. As is noted in the same article, sports betting takes a bit of a break in the summer months. There is no NFL, college football, college basketball, NBA, or NHL to bet on. Instead, the focus is typically on baseball. Sports like golf and tennis do not generate much in terms of sports betting handle.
Moreover, Illinois is likely to see a decline in betting handle over the next few months, especially with the Cubs and White Sox both not being especially competitive this season. The $1 billion betting handle streak may come to an end in one of the following months. Illinois bettors are excited about the Bears and No. 1 overall pick Caleb Williams for the upcoming NFL season. With a fanbase this passionate, they are perhaps raring to have a good team to root for. They will likely be back to betting in no time, at least according to the report.
Once you are all dialed in regarding the latest news and notes coming from the Prairie State, make sure to of course tap into the awesome array of information for you at SBS. Of course, if you are interested in more updates coming from this area, you should bookmark the sports betting in Illinois guide which goes over all the latest news coming from the state. Conversely, if you are interested in maximizing your wagers (and who isn’t), then make sure to check out the best bonus betting sites breakdown. On this page, eligible customers can find a catalog of the latest and greatest welcome bonus offers to charge up their bets. Finally, for those on the go, the best betting apps rundown is a fantastic guide that helps you learn more about the nuances of mobile betting.
About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football and basketball across the country. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones. CURRENTLY Business Development and freelance sports writing RESIDES IN Reno, NV EDUCATION University of Nevada BS and MBA EXPERTISE -Sports writing proficiency in: NFL, NBA, UFC, boxing, golf, and some motor sports -Topical news -Promotional and marketing ideas/updates -Business development Summary Chris Boline serves in a business development sales capacity as his day job. He has previously held sales/marketing positions with The Applied Companies (TAC), KTVN 2 News and the NBA G League’s Reno Bighorns, affiliate of the Sacramento Kings. He is a Reno native and is a member of various community boards including the Nevada Sagebrush Alumni Chapter, NCET and the College of Business Alumni Association (COBAA). Chris graduated from the University of Nevada in 2015 with a bachelors in management and economics and also earned his MBA from Nevada in 2023. More about Chris: Past president of the College of Business Alumni Association (COBAA) 2022-23 Two-time honoree for University of Nevada Alumni Chapter of the Year (Nevada Sagebrush Alumni Chapter, 2017 & COBAA, 2021) 2021 NCET award for Professional Services Organization of the Year with TAC Northern Nevada Human Resources Association 2020 Best Places to Work-Northern Nevada, Second Place with TAC 2016-17 Reno Bighorns MVP from the Sacramento Kings The Nevada Sagebrush editor-in-chief 2013-15 Associated Collegiate Press 2015 Four-year Non-daily Newspaper Pacemaker honoree University of Nevada, Reno College of Business Dean's List honoree (5x) from 2011-2015 Nevada Press Association award for Best Sports Column – Community in 2015 Education
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