In the latest news in our sportsbook pay per head blog, the Illinois sports betting handle drops in April. There is a 16% decrease from the previous month, which at first glance, seems to be a budding problem for the betting industry.
But as most bookies know, seeing a decrease in business activity, which can be tracked with your sports betting software solution, is normal. Especially during this time of the year. In the US, spring and summer tend to be slow months, especially after both football and basketball season come to a close.
Illinois is one of the most lucrative sports betting markets in the country. The handle for April is at $898.6 million. Seeing the handle, the 16% drop does not seem to be such an issue. April will get lower handle as March takes one of the highest months in sports betting due to March Madness betting.
Illinois Sports Betting Handle and Other Numbers
Even with the drop in handle, the hold increased to 9.9% in April. What does this mean? Basically, sportsbooks took in more money after payouts. The adjusted gross revenue for sportsbooks in the state is at $89.5 million. This is 7.8% lower than the previous month.
But the year-on-year data shows us a different perspective- that of growth. The April adjusted gross revenue for April 2023 is up by almost 30% from April 2022. Aside from that, Illinois records the second highest handle and revenue across the country, next to New York.
Online sports betting took in almost 98% of all wagers made in the state. If anything, this should motivate you to get on and start using this sports betting platform. Get in the sports betting industry while it is still quiet, so you will be prepared when the market picks up in football season. In the meantime, baseball, basketball, hockey, and other sports will be more that capable of helping your sportsbook earn more in the next few months.