Illinois record monthly marks of $1.16 billion in traditional sports wagering handle and $112.7 million for October

Illinois record monthly marks of $1.16 billion in traditional sports wagering handle and $112.7 million for October

The Illinois Gaming Board reported record monthly marks of $1.16 billion in traditional sports wagering handle and $112.7 million in adjusted gross sports betting revenue in October, resulting in national all-time single-month records on both fronts in the post-PASPA era.

The Land of Lincoln had made incremental increases to set new handle records on three previous occasions this year after its initial $1 billion handle reported in October 2022. But this October’s 7.7% increase from September’s $1.08 billion was enough to finally get over $1.1 billion for the first time. It is the seventh billion-dollar handle for Illinois sports betting.

The 9.7% hold by operators resulted in the record windfall, a 10.4% increase from the previous mark of $102.1 million generated in October 2022. Operator revenue through the first 10 months of the year has surpassed $800 million, up 30.1% compared to the same period last year, while the $8.9 billion worth of accepted wagers is up 16.1%.

Handle from mobile betting apps and online sites nearly reached $1.13 billion, and the eight online operators combined for $108.9 million in adjusted gross revenue.

The state saw an inflow of $16.9 million into its tax coffers, raising the year-to-date total to $120.2 million. That is $27.8 million ahead of last year’s pace through 10 months. Cook County, which imposes a 2% levy on operator revenue from wagers placed within its borders, topped $1.1 million in tax receipts for the first time as revenue in the Chicagoland area totaled $57.2 million.

Illinois’ figures for October pushed the national handle for the month to a record $12.16 billion, and that is without Arizona‘s numbers to round out the month. The $1.13 billion in gross revenue is also a record, and that number is incomplete as Tennessee no longer provides operator revenue totals in its monthly reports. State taxes have also already reached an all-time monthly high in the post-PASPA era of $233.3 million.

Source: SportsHandle Chris Altruda

Preview Image: Shutterstock

Author: Bradley Bennett