Looking at the latest report from the Illinois Gaming Board, a new record is set for sports betting revenue in Illinois, as well as another billion-dollar betting handle streak. Illinois ended 2023 with a $1.3 billion monthly betting handle for December 2023. This is 4.5% less than November’s, but still nothing short of remarkable. In addition, this is also the fourth straight month that the state’s sportsbooks have seen a handle over a billion each month.
As for revenue, it sits at $128.4 million, which is 76.6% higher than that of its previous month. With a 9.7% hold percentage for the month, sportsbooks get to earn the highest revenue they have seen. And the trend seems to continue on to the next year as January and February continue to bring in more exciting sports events. 2024 seems to be a good year to be a bookie, if we are to look at the numbers from betting markets such as Illinois. The continuous growth we see each year confirms what everybody in the industry is saying – sports betting is still growing, and has not hit its peak yet.
Sports Betting Revenue in Illinois: One of the Best in the Country
Illinois is one of only three states in the US to reach a billion in revenue for 2023. The other two are, unsurprisingly, New York, and New Jersey. The total annual betting handle for the state for the year is at $11.6 billion, 19% higher than 2022. The yearly hold is at 8.6%, and the state was able to collect over $150 million in tax revenue. These numbers should more than just inspire you to learn how to open a sportsbook and actually go ahead and be a bookie this year.
PricePerPlayer.com offers the best software to help you get started, and there is no better time than now. Let us take a look at the sports calendar. December was a busy month for sportsbooks as football was widely popular, with both the NFL regular season and college bowl games happening. Illinois sportsbooks saw $322 million in wagers in that month alone on football. Meanwhile, Basketball was a close second at $319 million. February marks the busiest and most profitable month in betting as we will be having the NFL Super Bowl on February 11. The NBA is also heating up as we get closer to the playoffs, so there are a lot of opportunities to earn from these leagues alone.