Sports betting in Illinois is on a roll, as the state’s sportsbooks take in over a billion in wagers the fourth month in a row this January. Not only is it a four-month streak that everyone who wants to start a bookie business would be envious of, but they also set a new record. As of January, the highest betting handle of sportsbooks in Illinois is at $1.07 billion. The new record beats the previous $1.03 billion set in October of last year.
In addition, January’s handle is 4% higher compared to the previous month, and 23.3% higher than that of January of the previous year ($867.5 million). Aside from the record handle, those who use a sportsbook pph software to manage their online sportsbooks also look at the revenue from wagering. For Illinois, the gross revenue also hit more than a billion in a month. January’s gross revenue is at $1.02 billion, which is higher than December’s $955.7 million. This is the first time that the state’s sportsbooks have seen more than a billion in gross revenue.
Sports Betting in Illinois: Looking at January’s Numbers
Looking at the adjusted gross revenue, we have a little over $96 million, which is the third highest number we have seen in Illinois. The top three adjusted gross revenue records all happened in the last three months, as well, giving us a very good run for the peak season in US sports. Since its launch back in March 2020, sportsbooks have taken in $275 million short of $20 billion in handle, and over $1.5 billion in adjusted gross revenue.
As for the breakdown of wagers, football continues to drive the highest amount in wagers, followed by basketball. The Australian Open is also quite lucrative, with local sportsbooks taking in $77.2 million in wagers. Other sports events such as other tennis tournaments and soccer, among others contributed to the billion-dollar handle for the month.