Move over, New Jersey - Illinois is staking claim as the U.S.’s second-biggest sports betting market in April.
The Illinois Gaming Board's latest monthly data shows that the Land of Lincoln generated $92 million of adjusted revenue on a handle of $1.1 billion, edging New Jersey ($1.04 billion) for second place behind New York for the month.
April’s handle was the sixth-highest amount wagered all-time in Illinois and marked the eighth consecutive $1 billion month.
Online and retail sportsbooks combined for an 8.3% hold, mainly because of the 8.4% from mobile on a handle of $1.07 billion. Brick-and-mortar operators posted 2.7% on a handle of $31.8 million.
The April handle was up 23% year-over-year but down 12% month-over-month. Revenue took a more modest climb of 2.7% compared to April 2023 while profits fell 7.5% from March.
Year-to-date sports betting revenue has now surpassed $400 million in Illinois.
Parlay party
In another basketball-heavy month that saw the NCAA wrap up its men’s and women’s tournaments and the Chicago Bulls end their regular season outside of the playoff picture, hoops accounted for $13.7 million of revenue.
Baseball brought in $6.5 million while tennis made operators nearly $5.2 million to round out the top three individual sports for April. Parlays were the big money maker, accounting for 68.2% of the Land of Lincoln’s monthly revenue total.
Change to the landscape
| Operator | April Handle | April Revenue |
|---|---|---|
| DraftKings | $400.3 million | $27.9 million |
| FanDuel | $386.9 million | $43.8 million |
| BetRivers | $71.5 million | $5.4 million |
| BetMGM | $55.1 million | $3.7 million |
| ESPN BET | $53.1 million | $3.7 million |
| Caesars | $47.8 million | $2.2 million |
DraftKings reached an impressive mark of $400.3 million in amount wagered, but the online sportsbook’s 7% hold paled in comparison to its market rival.
FanDuel rode an 11.3% hold to a state-best $43.8 million despite its handle falling 11% month-over-month. An 18% win rate on parlays likely boosted FanDuel’s success.
BetRivers finished third with a handle of $71.5 million and was the only other operator to surpass $5 million in revenue for April.
BetMGM and ESPN BET generated over $50 million in wagers, while Caesars fell just short of that mark at $47.8 million. Fanatics Sportsbook followed in handle, but a win rate of over 8% led to $3.6 million in revenue.
Price of business going up
Illinois filled its coffers with $13.8 million in April, one of the last remaining months of the state's 15% tax rate on sports betting operators. A new progressive rate was signed into the 2025 state budget by Gov. J.B. Pritzker earlier this month and is set to begin July 1.
Sportsbooks will pay out a minimum of 20% of their adjusted revenue. Depending on how much they bring in, the scale goes as high as 40%, which FanDuel and DraftKings could realistically reach.
