Sports betting sets new monthly record in Illinois

ALTON — Sports betting totals continue to set monthly records in Illinois. 

According to the Illinois Gaming Board, Illinois sportsbooks took in more than $1 billion in bets in March, beating the previous high set in January by $2 million. The March totals moved Illinois into second place in the country in both total bets and revenue. 

“Strong March Madness betting helped Illinois top $1 billion in total sports bets for the fifth time in the last six months,” Dave Briggs with PlayIllinois.com told The Center Square. 

March sports wagers at the Argosy Casino Alton sportsbook totaled $3,895,597. That generated $568,491 for the casino and created $46, 209 in tax revenue, according to PlayIllinois.com.

FanDuel Sports Book and Horse Racing in Collinsville recorded the most sports wagers in Illinois during March at $372,452,513. That generated $43,077,323 in revenue and $6,492,015 in tax revenue. Second best was the Casino Queen East St. Louis with total sports wagers of $334,935,998, revenue of $31,330,487 and tax generation of $4,452,582.

Briggs said the March numbers are truly amazing considering Illinois is home to only seven online sportsbooks.

“Other states have many, many more options for people," he said. "So it just shows you that Illinois sports bettors are passionate about their sports."

Briggs expects an eighth online option, Circa Sportsbook, to launch before the NFL season begins. A boost to Illinois sportsbooks came in March 2022 when legislation went into effect that allowed residents to sign up online for sportsbooks rather than having to do so at a land-based casino. 

Sports bettors are helping to fill the state’s coffers. Illinois placed third in the country in sports betting taxes collected at more than $15 million. Sportsbooks in Illinois are taxed at an effective rate of 14.6%.

This year, Illinois leapfrogged Pennsylvania into third place in lifetime sports betting handle with nearly $20 billion bet on sports. 

"Of the top 10 sports betting markets, only Illinois and New York are showing growth,” Briggs said. "New Jersey, which ranks neck-and-neck with Illinois, is showing signs of cooling off. We are predicting that by the end of the year Illinois will hold down a solid spot as the second-biggest sports betting market in the nation.”