- Casino
- Bitcoin Casinos
- Blacklist
- Real Money Casinos
- Reviews
- Strategy Guides
- Sweepstakes Casinos
- US Online Casinos
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Pennsylvania
- Texas
- Slots
- Free Slots
- 88 Fortune Frenzy
- A Christmas Carol
- Bandits and Bounties
- El Mariachi
- Fire & Steel
- Gifts from Santa
- It Came from Venus
- Legend of Azteca
- Legend of Horus
- Love Beach
- Mafia Family
- Ogre Empire
- Once Upon a Time
- Project Space
- Riches in the Rough
- Sheriff vs Bandits
- Take the Kingdom
- The Curious Machine
- The Defenders
- The Wild Show
- Viking Voyage
- Wilds of Fortune
- Ancient Slots
- Animal Slots
- Asian Slots
- 15 Dragon Pearls
- Buddha Fortune Hold and Win
- Cai Hong
- Dragon & Phoenix
- Dragon Kings
- Empire of Riches
- Journey to the West
- Lucky Macau
- Make You Rich
- Moon Sisters Hold and Win
- Mr. Macau
- Mythical Creatures
- Oriental Flower
- Prosperous Bloom
- Storm Lords
- Super Rich God Hold and Win
- Thai Blossoms
- Twin Dragons
- Classic Slots
- Food Slots
- Gold Slots
- Horror Slots
- Jungle Slots
- Magic Slots
- Sports Slots
- Slot Developers
- Free Slots
- Poker
- Sports
- Esports
Illinois Sportsbooks Enjoy Strong October with $1bn Handle
October was a strong month for sportsbooks in Illinois, judging by details released by the gambling regulator in the state, the Illinois Gaming Board. The Board’s latest report reveals that legal sportsbook operators reported $102 million in revenue after seeing a staggering $1 billion in betting handle for October.
Betting Handle Surpasses $1 Billion in October
The betting handle surpassing $1 billion in October positioned Illinois among other major sports wagering markets that surpassed one billion in betting handle such as New Jersey, New York and Nevada. A report released by the regulator Friday reveals that professional sports attracted the majority of bets in October.
Not unexpectedly, mobile betting attracted significantly more bets than retail wagering. In total, the betting handle for online wagering on professional sports in October hit $871.5 million. In contrast, the betting handle for retail betting on professional sports in October came to just over $34 million. In other words, the total betting handle for professional sports in October hit $905.5 million.
Betting on college sports was also popular in Illinois in October. However, judging by the regulator’s recent report, college sports only saw a fraction of the handle reported for professional sports. The overall betting handle for college sports in October hit $123.1 million. Similarly to the result for professional sports, online wagering represented the majority of the handle in October for college sports. In total, the online wagering handle for college sports in October was $116.9, while the retail sports wagering handle was only $6.2 million.
The Activity Continues to Bring Invaluable Tax Revenue
According to further details released by the Illinois Gaming Board, the $102 million in gaming revenue brought in $15.3 million in taxes, making October another strong month for the state.
An additional breakdown of the $102 million shows that online wagering revenue represented the lion’s share in October with $96.1 million. This delivered a total of $14.4 million in taxes. On the other hand, retail betting revenue in October was $6 million, which delivered $904,978 in taxes.
Illinois legalized sports betting back in June 2019. The state launched its retail market in March 2020, while a few months later, in June, it introduced mobile wagering as well. Since the legalization of sports betting, until October this year, the state has collected nearly $200 million in tax revenue.
Related Topics:
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.
Previous Article
Industry
December 9, 2022
Must Read
Industry
April 19, 2024