September was the start of the NFL season, and Illinois sportsbooks saw a ton of revenue. The state set a new record for adjusted gross revenue and had the best wagering month of all time. This week, the Illinois Gaming Board reported that online and retail sportsbooks combined to haul $136.4 million in September. That beat out their previous high of $135.2 million in January 2024.
Adjusted gross revenue increased by 58.2% year-over-year. Illinois’ September handle of $1.31 billion was up 21.3% compared to the same month in 2023. The state’s all-time mark for wagers in a month was last November with $1.38 billion. Additionally, their amount wagered reached $1 billion for the sixth time this year. Finally, the state’s 10.4% hold was their first double-digit win rate since June.
A new tax rate in Illinois went into effect in July. With a progressive tax rate. State coffers were able to collect $37.3 million in September. That’s $24 million more than they had in August. This time last year, the state only collected $12.9 million in tax revenue. Illinois’ new tax system is working and is helping generate more money for the state.
What Illinois sportsbooks were the most profitable in September?
During September 2024, online sports betting accounted for $132.6 million of the $136.4 million total. FanDuel had the largest haul of any operator with $53.7 million in revenue. However, they finished second behind DraftKings’ $494.4 million in wagers. With a hold of 13.3%, FanDuel’s win rate was four points higher than DraftKings.
Fanatics Sportsbook generated a record $95.4 million handle and adjusted revenue of $10.6 million. BetRivers had a 12.5% win rate in September and collected $8.8 million in revenue. Caesars was the only other Illinois operator to reach at least $50 million in wagers during September. Hard Rock Bet was a newcomer to the state and generated a $15.8 million handle to produce $1.5 million in revenue.
To no surprise, the NFL led all single sports wagers during September. The NFL and collegiate football combined to generate $444.6 million. Roughly 36% of all betting. Parlays accounted for $396 million of the state’s total handle.
