Sportsbooks across Illinois became the latest to follow a national trend, with November proving to be the most lucrative since launch despite wagering falling shy of another record showing.
Bettors produced $779.8m in wagers across the state’s retail and online sportsbooks during the month, falling short of the record $840.4m that was witnessed one month earlier.
With four weekends of NFL action in November, compared with five in October, betting volume dipped to $26m per day over the month’s 30 days from $27.1m per day over the 31 days in October. Year-over-year, wagers were up 74 per cent year-on-year from $449.2m in 2020.
However, sportsbooks won a record amount of revenue from November’s bets, producing an increase of 112 per cent to $78.2m in November from $37m during the same time frame a year earlier.
This surpassed the prior record of $49.9m that was set in March, and led to $79.3m in taxable revenue, topping the record $52.6m set in October, while yielding a record $12.7m in state and local taxes.
With a number of states yet to report November data, legal sportsbooks in the US have won a record $658.5 m, eclipsing the gross revenue record of $443.6m generated across the country in October. Illinois placed in third in November in terms of wagering and revenue.
“In a young market like Illinois, sportsbooks continue to expand their reach, and bettors are becoming increasingly comfortable with less conventional products such as in-game betting,” stated Joe Boozell, lead analyst for PlayIllinois.
“With an already expanding market and regulation changes in the state that will open new avenues for sportsbooks, 2022 should bring explosive growth.”
November saw $745.9m of all wagers, or 95.7 per cent, made online. DraftKings/Casino Queen leading the way with $288.7m in combined online and retail handle, including $283.8m in online wagers. The combined handle was down from $315.3m in October, but produced $21.9m in gross revenue.
FanDuel came in second with $216.2m in online and retail wagers, including $214.4m in online wagering, which was down from $236.7m month-on-month, producing a market-best $30.2m in gross revenue.
“Even in what was the most profitable month in US sports betting history, Illinois stands out because of how dramatic its growth has been,” noted Eric Ramsey, analyst for the PlayUSA.
“What is most remarkable is the state’s sportsbooks continue to post these results with the market hampered by the ban on in-state college sports and in-person registration. The sky will truly be the limit with those handcuffs removed.”