How Much Market Share Can bet365 Grab in Illinois and Tennessee?

A new online sportsbook launch is an exciting time for sports bettors. Those in Illinois and Tennessee will soon get to experience that, as bet365 is set to eventually go live in both states.

It’s also exciting for operators, who take the opportunity to bring in new customers and gain another source of revenue.

But just how much is there for the taking for bet365 in the Illinois and Tennessee markets, which are both well established?

What is the Top Sportsbook in Illinois and Tennessee?

Tennessee does not break down its month sports betting revenue figures by sportsbook, but in Illinois, we see the same top-level results as we do almost everywhere else: FanDuel and DraftKings are dominating.

The two online sports betting giants in the US controlled a combined 67% of 2024 market share in the Prairie State, leaving the seven other sports betting sites to fight among themselves for the remaining 33%.

How much of that can bet365 peel off? Or can it eat into FanDuel and DraftKings?

The answer to the second question is probably not. To answer the first, we’ll have to look beyond Illinois’ borders.

How is bet365 Doing in Other US States?

The number of current bet365 legal states is 11. While it’s been a staple of recent state launches, such as Kentucky and North Carolina, and will be up to 13 states when Illinois and Tennessee each launch, it still lags behind the biggest players in the US like DraftKings, FanDuel, BetMGM and Caesars.

One of the recent states bet365 has taken up shop in is Pennsylvania, launching in July of 2024. That makes it a good state to study when looking forward in Illinois and Tennessee.

In Pennsylvania, bet365 has found itself consistently in sixth in monthly sports betting handle despite launching much later than its counterparts.

Bet365 didn’t go live in Pennsylvania until this past summer, and actually was fourth in betting handle among operators in August 2024, its first full month. Only FanDuel, DraftKings and BetMGM handled more money than bet365 that month, an incredible result even if it’s not all that surprising.

That first month included plenty of promo spend from bet365, making it a more attractive option for bettors in an established sports betting states where large-scale launches aren’t common. ESPN BET and Fanatics jumped back ahead the next month, and that’s remained relatively static since.

Being placed at sixth is good for a little better than 4% market share for bet365. In January 2025, it was 4.2%, not far behind ESPN BET in fifth at 4.8%.

FanDuel had nearly 40% of the sports betting handle in PA that month, while DraftKings had a little over 25%. That doesn’t leave much for everyone else, as BetMGM was third at 7.9%.

Where Will bet365 Rank in Illinois?

The results in Pennsylvania are encouraging for bet365, as they show it has staying power beyond its launch.

So, while people are sure to rush to grab a bet365 Illinois bonus code or bet365 Tennessee bonus code, I would expect them to like what they see enough to stick around.

Normally, I would say third is an unrealistic goal, but in Illinois, there’s actually space for bet365 to jump up that high.

BetRivers was third in Illinois market share in 2024 with 6.3%, followed by Fanatics at just under 6%, BetMGM at 5.2%, ESPN BET at 4.9%, and Caesars at 4.6%.

That’s incredibly close, and bet365 has shown it can compete with all of those. There’s no reason that, along with a possible March Madness bump if they get off the ground that quickly, it can’t make a big immediate impact and then have staying power throughout the summer.

Even if it’s third, getting to 6% market share might be difficult, but matching the 4.2% it has in Pennsylvania is certainly a possibility. That would mean more than $600 million in yearly handle in the massive betting market that is Illinois.