Illinois Sports Betting Revenue Sets Record $136.4M in September
Illinois sports betting hit a record $136.4 million in September 2024. That’s a 21.5% increase over September 2023 and 49.2% over August 2024. The numbers show the impact of the NFL season and Illinois’ growing presence in the US sports betting market.
Handle Reaches $1.31 Billion
The total handle in Illinois was $1.31 billion, a 21.3% year over year increase. That’s the 6th time in 2024 the handle has gone over $1 billion, just short of the all time record of $1.38 billion set in November 2023. The 10.4% hold was the first double digit hold since June.
The NFL season was the main driver of Illinois’ adjusted gross revenue (AGR) to a record $136.4 million. The AGR was up 58.2% over September 2023 as sportsbooks had a good run in college football and NFL games. That just beat the previous AGR record of $135.2 million set in January 2024.
$132.6 million of that came from online and $3.9 million from retail. Online is clearly the bread and butter of Illinois sports betting.
FanDuel Wins in Revenue, DraftKings in Handle
FanDuel, with Fairmount Park, was the best in Illinois in September 2024, with $53.7 million in AGR from $404.4 million in handle. That’s a 13.27% hold, the highest of the month for any operator.
DraftKings had the most handle at $501.5 million but only $47.7 million in AGR, a lower hold than FanDuel. Despite more betting volume, DraftKings was less profitable.
Fanatics, with Hawthorne Race Course, was third. They had $10.6 million in revenue from $99.3 million in handle and a 10.67% hold.
Tax Revenue Up Big Thanks to Progressive Tax
The progressive tax rate for sports betting that went into effect in July 2024 has really boosted Illinois tax revenue. September alone saw $37.3 million in tax from sportsbooks, up from the same period last year. That’s a big increase and shows the new tax is working to bring in more state revenue.
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