Illinois sportsbooks have experienced growth in August 2024, despite operators facing revenue challenges. According to the Illinois Gaming Board (IGB), the state recorded a monthly betting handle of $878 million, marking a significant 30% increase compared to August 2023. Adjusted revenue reached $59.2 million, representing a 26% year-over-year growth.
These numbers are great, especially considering that August is typically a slower month in the sports betting calendar in the US. You might see a similar trend in your sportsbook- check your pay per head software to generate a report to see your sportsbook’s activity.
Sports Betting Numbers in August
While the overall hold rate slightly decreased to 6.7% from last August’s 6.9%, sportsbooks managed to achieve an 8% win rate on gross revenue of $71.8 million across both online and retail operations. Baseball dominated the betting landscape with $236.3 million in wagers, while basketball attracted $53.6 million. If you keep track of the latest sports betting news, you will see this trend change as we reach the end of the baseball season in September, and the start of the basketball season in October.
Meanwhile, the early college football season and NFL preseason contributed $80.8 million to the handle, helping drive a 13.5% increase from July. However, a 2.5-point decline in win rate led to a 17% month-over-month revenue decrease.
Illinois Sportsbooks Submit to New Regulations
Meanwhile, the IGB has implemented temporary restrictions on certain NFL betting markets following a formal request from the league. Administrator Marcus Fruchter announced the suspension on Thursday, with the board scheduled to review the matter at a December 12 meeting.
The NFL’s request targeted 11 specific bet types deemed “inherently objectionable,” citing concerns about game integrity, player welfare, and consumer protection. The suspended wagers include:
- Predetermined outcomes controllable by individuals, such as the first play of the game or first incomplete pass
- Roster and personnel decisions made before games
- Officiating assignments and decisions
- Player injuries and misconduct
- Fan safety incidents
- Penalty and replay review outcomes
The league argues these betting markets are either susceptible to manipulation or could be considered derogatory and inflammatory. This temporary suspension affects both online and retail sportsbooks throughout Illinois until the IGB reaches a final decision. If you want to see which sportsbooks offer more variety with betting options, check out this sportsbook review.
Open an Online Sportsbook with SBPPH.com. Claim a Free Trial Here!
