Illinois Sports Betting Numbers are Strong in May
Illinois sports betting numbers are strong in May and continue to be one of the US leaders when it comes to legal sports betting. There was a slight dip in the overall numbers in May, but it’s setting up for new records coming this Fall.
Illinois Sports Betting Numbers are Strong in May
While some states have already started to announce June sports betting numbers, the Illinois Gaming Board just recently revealed the May figures. Illinois is typically one of the last states to report on a month, but it’s also become one of the biggest markets in the United States.
The total sports betting handle for the month of May in Illinois was $764 million, and that was a decrease of nearly 10 percent from the $839 million that was wagered in April. A drop was to be expected as the sports calendar slows down, and that trend will likely continue over the next few months.
Illinois sportsbooks did have a good month overall as the hold rate for the entire state was at 8.5% This allowed the total sports betting revenue to come in at more than $65 million, and that amounted to almost $11 million in tax revenue.
There are still just seven online sportsbooks available in Illinois, but that number could increase as the year moves along. FanDuel Sportsbook had the highest total handle at $254.9 million and that company is partnered with Fairmount Park.
DraftKings is the only other online sportsbook that was even over the $100 million mark for handle, and it was competitive with FanDuel as the total was $208.6 million. Caesars Sportsbook reported the lowest handle for the month as only $40 million in wagers were placed at that sportsbook.
Basketball Tops Baseball Despite Early Bulls Exit
The Chicago Bulls were on top of the Eastern Conference for a portion of the 2021-22 season, but it was not a long playoff run. Despite an early exit from the Bulls, basketball was still the most popular sport to wager on as the total betting handle was $191.2 million.
Illinois sports betting numbers had baseball as the second-most popular sport to wager on during the month of May as that total came in at $184 million. This sport will have to carry the load over the summer months and that should be reflected in the June report.
$1 Billion Month Coming?
March 2022 was the best month on record for the state of Illinois sports betting numbers as the total sports betting handle came in at $971 million. The NCAA Men’s Basketball Tournament contributed to that big month, and the start of football season this Fall should lead to new records.
If recent trends remain the same then it appears that Illinois is set to go over the $1 billion mark at some point before the end of 2022. Illinois would become the fourth state to ever hit $1 billion for a month, joining Nevada, New Jersey, and New York.
Bettors in Illinois will also be able to wager on in-state college football teams for the first time in 2022, but those bets have to be made in-person.
