Illinois Sports Betting Market Performs Well in November

The Illinois sports betting market performed well in November 2024, setting multiple records for the second consecutive month. The Illinois Gaming Board reported a staggering handle of $1.53 billion, while operator revenue soared to a record $154.6 million, surpassing the previous high of $137.2 million set in September 2024.

The performance came during a particularly active sports month featuring NFL, college football, NBA, NHL, and college basketball events. Compared to November 2023, betting activity increased by 11.3%, while revenue more than doubled with a 112.6% jump. The industry maintained a strong 10.1% hold rate, marking the fourth time in 2024 that operators achieved double-digit holds and nearly doubling the previous year's win rate. This means that if you have plans on joining the industry, now is the best time to learn how to start a bookie business.

Illinois Sports Betting Numbers

Online betting dominated the market, accounting for $1.49 billion of the total handle with a 10.1% hold. Thus, if you want to put up an online sportsbook, check out the 9DollarPerHead pay per head software.

Retail operations contributed a more modest $39.2 million in wagers and $3 million in revenue. The success translated into significant tax benefits, generating $48.2 million for the state and $1.5 million for Cook County from Chicago-area betting.

What this Means for Sportsbooks in Illinois

The November surge represented a dramatic turnaround from October's performance, when unprecedented NFL favorite victories had caused a 27.8% year-over-year revenue decline. Bookies rebounded strongly, with profits jumping 90% month-over-month on a 6% handle increase. Football wagers yielded an impressive 61% hold, contributing $25.2 million to total revenue, while parlays generated $93.7 million with a nearly 20% win rate.

With just December left to report, Illinois has already eclipsed its 2023 performance. The state has processed over $12.5 billion in wagers through November 2024, surpassing the previous year's total by nearly $1 billion. Meanwhile, revenue has grown 27% year-over-year, driven by 22% more wagers and improved hold rates. State tax collection through November has exceeded $228 million.  And if you want to earn as good as these operators, then check out this pay per head service. They can give you the software you need to manage a sportsbook without breaking the bank.