The state of Illinois has done it again, setting a new sports betting record for the month of October. The total sports betting handle for the month was $840.4 million, blowing past the $596.5 million that was wagered in September.
The previous sports betting record was $633.6 million set in March 2021, but Illinois was on a path to shatter that mark. With all four professional sports being played in October, sportsbooks in Illinois easily saw the most action of all time.
With the mark of over $840 million in October, Illinois will remain as the third-largest sports betting market in the U.S. New Jersey and Nevada are clearly ahead of the Land of Lincoln, but Illinois continues to close the gap in a hurry.
The sports betting revenue was also a huge increase for October as that total was $48.3 million. This wasn’t the case for all markets across the U.S., but it was a profitable month for the sportsbooks in Illinois.
Sportsbooks Hit Hard
Despite the huge jump in handle and revenue for Illinois sportsbooks, not all of the numbers were good. Sports bettors throughout the United States did well when betting on the NFL in October, and that was the case in Illinois as well.
The total handle for football in Illinois was $330.1 million, but sportsbooks had a revenue of just $6.4 million on those wagers. That resulted in a hold of right around 2.0%, which had a big impact on the overall numbers.
Illinois sportsbooks posted a hold percentage of 13% on parlay wagers, which helped the overall revenue even out. Basketball was another popular betting market in Illinois, as the handle for that sport was over $93 million.
DraftKings Dominates Handle
DraftKings and FanDuel have been the two biggest online sportsbooks in Illinois for quite some time, and a terrific battle has emerged. When it came to handle for October, it was DraftKings that led the way with a total handle of $315.2 million.
FanDuel Sportsbook has continued to lead the way in terms of revenue, and that was the case yet again in October. The total revenue for FanDuel was $22.3 million, nearly doubling that of DraftKings.
BetRivers Sportsbook came in third place in both categories with a total handle of $119 million and a revenue of more than $7.9 million.
Still No Remote Registration
What is even more impressive about the massive growth in IL sports betting is that remote registration is still banned. All new accounts have to be set up in person at one of the Illinois casinos, and those locations still aren’t getting much traffic.
Remote registration is set to return in March 2022, just in time for betting on March Madness to take place. Lawmakers in Illinois recently approved HB 3136, and that should provide a huge boost to the already massive sports betting industry.
Illinois is now staring down the $1 billion mark in monthly handle, and it could happen within the next six months.