Illinois Sees Dip In Sports Betting Activity For February

• Illinois residents only wagered $679.4 million on sports in February.
• Sportsbooks made in February just over half of the revenue that they did in January.

SPRINGFIELD, Ill. – The regulated Illinois sports betting market saw a significant dip in both handle and revenue throughout February.

Steep Decline In Handle

According to a recent report from the Illinois Gaming Board, regulated Illinois sportsbooks handled just over $679.4 million in February.

This marks a stark 21.8% fall from the $867.5 million handle just one month prior in January.

Month-Over-Month Betting Handle Comparison

• January 2022 Handle: $867,505,495
• February 2022 Handle: $679,374,199

The decline in wagers did not stop Illinois from passing a $10 billion all-time legal sports betting handle however.

Illinois Sports Betting Revenue

Unsurprisingly, Illinois sportsbooks pulled in far less revenue in February than they did the month prior.

February only generated $35.6 million in adjusted sports betting revenue, showing a 5.2% hold rate for the month.

This is only marginally more than half of what sportsbooks made in January.

Month-Over-Month Betting Handle Comparison

• January 2022 Handle: $867,505,495
• February 2022 Handle: $679,374,199

Year-Over-Year Improvements

Although February 2022 showed a sharp decline from January 2022, it was still an improvement to how February performed in 2021.

In February 2021, Illinois residents bet over $509.7 million on sports, generating more than $35.3 million in sports betting revenue.

This means that sportsbooks handled 41.6% more in wagers this year, generating 22.2% more revenue.

Year-Over-Year Comparison

Sports Betting Handle	Sports Betting Revenue
February 2021: $509,794,592	February 2021: $35,393,768
February 2022: $679,374,199	February 2022: $35,600,085

 

News tags: Illinois | Illinois Gaming Board | Revenue