Illinois second in sports betting

SPRINGFIELD — Illinois is now the second-largest sportsbook market in the country, thanks in large part to two Metro East sportsbooks.

According to the Illinois Gaming Board, the state took in nearly $565 million in gross gaming revenue in August, about $8 million more than New Jersey. New York led the country with revenues of more than $877 million.

Leading August numbers in Illinois were FanDuel SportsBook and Horse Racing in Collinsville with a handle or total stake of $180,286,759 and revenue of $21,829,562, generating $3,024,060 in taxes. Second was DraftKings at Casino Queen in East St. Louis with a handle of $172,220,817, revenue of $22,457,431 and tax revenue of $1,944,035. Argosy Casino Alton had an account of $3,093,388, revenue of $661,406 and tax revenue of $81,643.

August sales for Illinois increased 9% over July and 41% over August 2021. According to PlayIllinois.com, regulated sports betting in Illinois has generated nearly $175 million in tax revenue for state and local governments since the industry launched in March 2020. In 2022 alone, through August, tax revenue has reached nearly $70 million.

PlayIllinois.com’s Dave Briggs said the growth of sports betting in Illinois is an impressive achievement considering it’s still in its infancy.

“We’re really just talking about going back to March 2020 when this all started, so already getting past a sports betting territory as established as New Jersey really shows that it has quite a future,” Briggs said.

Since the beginning of sports betting, Illinois sportsbooks have now grossed over $1 billion from online gaming. 94 percent of all sports betting in Illinois was placed online.

Since the beginning of legal sports betting, more than $157 billion in sports betting has been placed in the United States. Currently, 26 states allow sports betting; Missouri does not currently allow sports betting.

In March, a law in Illinois allowed residents to register for sports betting online instead of having to do so in person at one of the state’s land-based casinos.

Briggs said he expects impressive numbers for September.

“We’re just talking about August numbers, so there hasn’t been an NFL yet, and if they come in, they have to be huge,” Briggs said. “In the first week of just betting on the NFL, some numbers circulated saying it was up significantly in Illinois.”

Since the industry’s inception, Illinois sports betting has generated nearly $175 million in tax revenue for state and local governments. All tax money goes into a sports betting fund. On the 25th of each month, any monies in that fund in excess of the fund’s projected monthly spend through the next month are transferred to the Capital Projects Fund.

Briggs said with more sports betting coming online in Illinois, the state has a chance to overtake Pennsylvania for third place in lifetime sports betting revenue.

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