Wagering is becoming increasingly popular across the country with each passing day. More states are legalizing sports wagering, and more online sportsbooks are launching.
In Illinois, the online wagering market consistently ranks as the second-largest in the United States. The total bets placed at the seven Illinois online sportsbooks have exceeded $1 billion in five of the last six months.
With so much money being wagered on Illinois online sports betting sites, one might wonder how well sports bettors in the Prairie State are performing against the books and how well they are doing compared to the other 28 states that have legal wagering. PlayIllinois delved into the statistics that suggest Illinois bettors aren’t doing too badly.
The state of illinois near the the top of pack throughout sports betting gain rate
Considering a state’s hold percentage is one of the ways to determine how well sports bettors are performing in a particular state. The hold percentage refers to the margin that the sportsbook takes on both sides of a game. In other words, the lower the hold percentage, the more the bettors are winning.
However, evaluating states based on hold percentage can be a bit tricky. The amount that sportsbooks payout in promotions, especially when sports betting launches in a state, can affect the hold percentage. This is one of the reasons why Ohio has a high hold percentage of 15% during the first few months of legalized wagering in the state.
However, in more established sports betting jurisdictions like Illinois, the hold percentage is a decent indicator of bettor skill.
By that measure, things are going decently for sports bettors in Illinois.
Since the launch of legal sports betting in June 2020, Illinois sportsbooks have recorded an 8% hold. In terms of lifetime wagering, Illinois is tied with Pennsylvania for the sixth-lowest win rate among states with legal sports betting.
States ranked by lifetime sports betting hold percentage:
| Rank | Status | Hold% as well as Win Cost |
| 1 . | Nevada | 5. 7 % |
| 2 . | Colorado | 6. 8% |
| 3. | New Jersey | 6. 9% |
| 4. | New Jersey | 7. 1% |
| 5. | New Hampshire | 6. 4% |
| 6. | Illinois | 9. 0% |
| 7. | Pennsylvania | 9. 0% |
| 8. | Arizona | 9. 1% |
| 9. | California | 8. 3% |
| 10. | Indianapolis | 8. 4% |
| 11. | New York | 8. 5% |
| 12. | Michigan | 8. 5% |
How come Illinois physical activities bettors standing 6th inside the nation
Nevada is considered the gold standard for in-person betting. However, the state hasn’t legalized online sports betting. Bettors in the state are required to register in person at a casino before placing bets online. Considering that Nevada is a state where many professional gamblers operate, it stands to reason that the state may have the lowest hold percentage.
On the other hand, based on hold percentage, Illinois bettors outperform those in New York, which is the country’s top betting jurisdiction in terms of handle and revenue. New York is tied for eleventh place with Michigan at 9.5%.
New Jersey, Illinois’ main sports betting competitor for the second-place spot in the nation, fares better with a hold of 7.1%. In 2018, New Jersey became the first state to launch online betting.
Meanwhile, Colorado (6.8%) has had legal sports betting for about the same amount of time as Illinois. However, there is a difference in the hold percentages between the two states. When comparing bettors in a state like Iowa, where betting launched in 2021, they are not far behind those in Illinois at 8.1%.
At the same time, betting operators are reaping the rewards in Delaware, which has the highest hold percentage at 19.9%. That is a significant difference compared to what is happening in Illinois.
Illinois advantages from being sports-loving state
States with prominent professional and college sports teams tend to attract experienced gamblers who have been successful against the sportsbooks. Meanwhile, bettors in states like Delaware, Montana, and South Dakota, where there are no professional teams or college powerhouses, are facing challenges. However, things may change in the future as these states gain more betting experience and as more new states join the party.
The passion for sports in Illinois, along with the abundance of professional and college teams in the state, is clearly contributing to the success of sports bettors in the Prairie State.
The gambling math
You will likely come across numerous sports betting advertisements as you casually scroll through social media. However, that is not the only way sportsbooks are spreading their names out there. If you live in a state where sports betting is legal, you may also see your friends posting about a big win they had. Perhaps it was a low-risk, high-reward bet on an upset during March Madness.
Many people feel apprehensive about the idea of wagering a large sum on a sporting event. However, the odds of winning are usually below 50%. The truth is, there are specific strategies to employ in order to make a profit.
Different studies have yielded varying results, but approximately 3-5% of all sports bettors are profitable in the long run. Some become highly successful bettors who have spent years perfecting a system that works for them. It takes time, effort, and a lot of trial and error. In fact, winning anything over 55% of all bets puts individuals in the top 3% of all bettors.
Most people gamble for fun and make decisions based on how they feel on that particular day. That is why responsible gambling is so important, and you should never wager an amount of money you are uncomfortable losing.
M. Pierre is the author of the Illinois State game guides. He has been covering news and sports events for every online and TV broadcast for over a decade. He was born and raised in Minneapolis, Minnesota and is a good alumnus associated with the University of Minnesota: Moorhead. Recently, he has immersed himself in tribal online casino and online gambling news. He also defended Arizona’s gambling authorization. C. M. Pierre has worked as a media reporter and videographer, and has defended high school, college, and professional sports teams throughout his career, including the following teams: Arizona Capital, Phoenix, Minnesota Vikings, and the University of North Dakota Football Club.
