Illinois registers nearly $840m in April sports betting handle

Illinois registered $839.4m in sports betting handle in April, marking the third month this year the state has surpassed the $800m plateau. The big output helped Illinois ($3.36bn) leapfrog Nevada ($3.33bn) for the third spot in overall 2022 handle. Illinois now trails only New York and New Jersey this year. While the nearly $840m in handle represented a 13.6% month-over-month (MOM) drop from the record $971.3m Illinois bettors wagered in March, it was nonetheless the state’s fourth-best month ever. For the month, Illinois generated just over $70m in sports betting revenue – its third-highest haul of all time – resulting in $10.6m in taxes back to the state. Despite the drop in handle from March, revenue increased 16.2% MOM on the strength of a beefy 8.4% hold. Mobile betting continued to reign supreme, with $810m in wagers – or over 96% of total handle – coming via online platforms. Parlays, meanwhile, maintained their status as the preferred method of wagering among Illinoisans, as well as a routine money maker for operators. Of the $839.4m wagered, $190.2m came via parlays, with sportsbooks holding 19.9% on the exotic wagers. That equated to $37.8m in revenue, which marked an all-time high for Illinois operators. Only basketball ($291.6m) generated more handle than parlays. Baseball represented the third-most popular sport, amassing $135.5m in total bets. In terms of operators, FanDuel led the way with $287.9m in handle and $33.4m in revenue, the third straight month the Fairmount Park-partnered operator occupied the top spot after overtaking DraftKings in February. DraftKings, via retail partner Casino Queen East St. Louis, maintained the second spot with $217.7m in handle and $14.2m in revenue, while BetRivers, at $105.9m and $6.2m respectively, rounded out the top three.