The latest report from the Illinois Gaming Board gives us record-breaking numbers. According to the report, November was a record month for sportsbooks in the state. Illinois sports betting hits the billion-dollar mark with $1.03 billion in November. While the number is indeed noteworthy, its actually only a very small increase from the previous month. October’s handle was $1.029 billion, thus giving us a 0.05% variance, which is around $5,526.
The increase in handle is consistent to the upward trend that those who use the PricePerPlayer.com betting software see as well. Towards the colder months, more and more college and professional sports leagues hold their respective tournaments.
In Illinois, the $1.03 billion handle for November was partly due to football. Both NCAA football and NFL betting took up $289.3 million. This is 19.2% less than the previous month. But sports betting experts credit it to an increase in basketball betting.
Illinois Sports Betting Numbers for November
Basketball betting took up $260.7 million in November. This number is for both the NBA and NCAA basketball. They are entering the midway of the season this winter, so the number could get even higher in the next few months. This is 128% higher than October’s $114.4 million. Illinois sportsbooks saw $71.1 million in wagers from tennis, and $64.5 million in soccer wagers. If you want to learn how bookies make money from taking bets, make sure you keep track of the popular sports events throughout the year.
Naturally, online sports betting continues to dominate the source of wagers. 96.1%, which is almost $990 million of all wagers, come from online sportsbooks. Meanwhile, the adjusted gross revenue is at $148.8 million, this is 3.3% lower than October’s handle. The decrease is due to the hold percentage dropping from 14.9% to 14.5%. The hold percentage is the margin that sportsbooks take on wagers.