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Chicago Sky forward Angel Reese is preparing as we look at the Illinois sports betting financials for March 2024.
Chicago Sky forward Angel Reese is preparing moments before the start of the WNBA match on May 15, 2024. Photo by Javier Vicencio/Eyepix Group via AFP.

The Illinois Gaming Board's March revenue report is out, and it revealed a very good month for the sports wagering scene in the Land of Lincoln, including several of our best sports betting sites.

Illinois sports betting apps and the state’s retail providers combined for the fourth-highest handle ever and reported a $1 billion handle for the seventh straight month. March 2024 also represented a month-over-month and year-over-year increase in overall sports wagering activity.

A slightly underwhelming hold rate for Illinois sports betting providers kept monthly revenues from quite matching the handle totals

$1.26 billion March handle

Illinois sports bettors came out in droves in March, propelling the state’s sports wagering scene to the fourth-highest handle ever in the state's 47 months of operation. State providers brought in $1.26 billion, supporting the notion that March Madness was indeed an enormous draw for Illinois’ best sportsbooks. Residents certainly took advantage of Illinois sportsbook promos.

That figure represents a $200 million, or 17.9%, month-over-month improvement from the $1.07 billion in February and is about the same year-over-year percentage increase from the $1.072 billion reported in March 2023.

March’s totals took the year-to-date Land of Lincoln sportsbook handle to $3.62 billion, a 20% improvement from the first three months of 2023.

$99.4 million in March revenue

Illinois sportsbooks reported $99.4 million in adjusted gross sports betting revenue in March. While impressive, a 1.2% year-over-year drop in win rate to 7.9% meant that revenues jumped only 2.3%, despite the nearly 18% spike in handle.

Revenues did rise just over $22 million month-over-month however, from $77.1 million in February when the win rate for Illinois sportsbooks was an even lower 7.2%.

Illinois sports betting sites and retail sportsbooks paid out a total of $14.9 million in taxes from their revenues in March, a 21.6% improvement from March 2023. It takes the year-to-date tax contribution total to $47.7 million, which is $8.5 million ahead of last year’s pace.

Cook County received an additional $1.1 million thanks to a $54.7 million sports betting handle from casinos located within Chicago’s city limits. Check out our best real money online casinos if you can't reach those locations.

Split decision in provider contest

As has become customary in the Illinois legal sports betting market, DraftKings and FanDuel each prevailed in one of the two monthly measuring metrics. DraftKings had the biggest March handle in the state, while FanDuel topped revenues.

DraftKings Illinois was responsible for $461.5 million of the overall state handle in March, nearly a record for the provider in that market. It reported $32.8 million in revenues, the fourth straight month of $30 million+ monthly revenues. Its hold rate was a pedestrian 7.1%. You can sign up for the behemoth while using our DraftKings promo code.

FanDuel Illinois accepted $433.8 million in March wagers. Thanks to a 9.5% win rate, FanDuel was the most successful Illinois sports betting site in terms of revenues with $41.4 million. 

BetRivers Illinois was third with a $78.8 million handle and $6.5 million in revenue from an 8% hold.

ESPN BET checked in fourth with $62.7 million in March wagers and $4.7 million in revenues. Caesars Sportsbook Illinois rounded out the top five with $61.9 million in bets and just over $4 million in March revenues.

BetMGM Illinois was sixth in terms of handle with $60.4 million in wagers and Fanatics Sportsbook Illinois reported $52.3 million in accepted bets during the month.