Illinois sportsbooks are enjoying a very nice profit margin despite seeing less betting activity in May. The numbers from the latest report from the Illinois Gaming Board show a total monthly sports betting handle of $821.1 million, and a revenue of $89.1 million with a record 10.8% hold. Even with a dip in handle, a few couple of hundred million short of a billion is still remarkable for the local industry.
If you manage your own operation with a sportsbook pay per head software, then you know how to track of your sportsbook’s numbers. Illinois sportsbooks see a decline of 8.6% month over month in handle. However, this points to a simple trend because of a slower sports calendar.
If you look at the reports you previously get from your online bookie software, then you will see that some months are busier than the others, something Illinois sportsbook are seeing now. After all, May 2023’s handle is actually 7.5% higher than May 2022’s handle. So there is still growth in the betting industry in Illinois.
Illinois Sportsbooks and Their Numbers
Another metric to track would be on where your players are betting on. You can see this in your bookie software as well. It helps to keep track of this so you know which sports you can promote to maximize exposure and increase revenue.
For Illinois sportsbooks, basketball was the most popular sport residents bet on. The total handle for basketball alone is at $183.6 million. Meanwhile, baseball takes the second spot at $179.5 million for May. For June, we expect to see higher numbers for baseball, since the MLB tends to be the dominant sports league in sportsbooks during this time of the year.
And if you want to know how Illinois residents place wagers, online sportsbooks still take the most of the handle, with around 97% of bets coming in from online sportsbooks. Around $86 million of the total monthly revenue comes from online sportsbooks as well. Meanwhile, retail sportsbooks may have less action, but their hold is at a high win rate of 13.3%, giving them over $3 million in revenue.