- 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 |
