The latest revenue report from the Illinois Gaming Board has revealed that the state’s licensed sportsbooks reported record-breaking revenues of more than $102 million for the month of October.
Illinois becomes only the fourth state to accept more than $1 billion in wagers in a single month
According to the report, Illinois sports fans wagered more than $1 billion on sports during the month, a record for the state that sees it become only the fourth state to cross the $1 billion handle threshold after New York, Nevada, and New Jersey. This brings the total amount wagered since sports betting in Illinois launched in March 2020 to almost $17 billion.
The overall house earnings for licensed sportsbooks resulted in $15 million in tax revenue for the state according to Illinois Gaming Board Administrator Marcus Fruchter. Since launching, the state’s 12 sports betting operators have now contributed over $190 million in taxes from $1.3 billion in revenue.
A full calendar of NFL games saw football become the most popular sports at sportsbooks as gamblers wagered $358 million on the sport. This was followed by basketball which attracted $114 million in wagers and tennis which drew in $85 million.
Government officials expect the market to keep improving and setting new records as sportsbooks are now earmarked for Chicago’s major sports stadiums. The state is also in the process of accepting applications for online-only sports betting licenses. Currently, any sports betting apps available in the state must be tied to a land-based casino or a racetrack.
Illinois’s first $1 billion-dollar sports betting month comes shortly after the state reported a record-breaking fiscal year for 2021-22.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.