Last updated on September 17th, 2023 at 11:13 am
Illinois has firmly established itself as a major player in the legal sports betting industry in the US. Its latest numbers from July not only show us an increase in numbers, but the addition of that month’s revenues pushed the Illinois total revenue past $2 billion. That’s quite a feat, considering sports betting went live in Illinois only in 2020.
The pay per head industry continues to thrive as sports betting enjoys a surge in popularity, even during the pandemic. And most, if not all, betting markets have recovered easily, and are now thriving. The Illinois Gaming Board reported an impressive monthly handle of $611.4 million and an adjusted gross revenue of $60.4 million for the month of July.
Hitting the $2 billion revenue mark is quite rare in the US, as this feat has only been matched by New York and New Jersey, with Illinois accomplishing it by generating a staggering $1 billion in revenue in just the past year. If anything, this should motivate you into getting this pay per head bookie software to create a sportsbook and join the industry.
Illinois Total Revenue and Handle Shows Growth in Market
Despite a slight dip in monthly betting activity of 6.8% from June, primarily due to the absence of football, Illinois secured the second spot in the United States in terms of total handle. The state’s total sports betting handle is rapidly approaching $25 billion as of July. With football season starting, getting past $25 billion will be very easy.
On the revenue front, there was a 10.6% month-over-month growth, thanks to sports betting operators’ hold increasing from 8.2% in June to 9.9% in July. Year-over-year, both handle and revenue also shows substantial growth, with the handle increasing by nearly 20% and revenue jumping by 10%.
In July, online sports betting platforms dominated the market, accounting for a staggering 97% of all wagers placed and generating $58 million in revenue. Meanwhile, retail operations contributed a handle of $16.2 million, resulting in $1.6 million in revenue. These bookie pay per head reviews can help you find the best platform to create your very own online sportsbook with.