Illinois Remains Second-Best American Legal Sports Betting State in June
The best sports betting sites combined to help the Land of Lincoln maintain its status as the second-best legal sports betting jurisdiction in America in June, right behind the consistent #1, New York.
As has been typical in the broader U.S. legal sports betting scene, Illinois sports betting saw a month-over-month dropoff in both handle and revenues. But good news from the Illinois Gaming Board's June revenue report came in the revelation of year-over-year gains in both measuring metrics.
Of note, the handle slipped under $1 billion for the first time since last August, and the sub-$1 billion handle is expected to last another couple of months—until September and the start of the NFL season.
Sports betting handle
In June, sports bettors in the Land of Lincoln spent $848 million with Illinois sports betting apps and retail providers. As mentioned, it is the first time under $1 billion since last August and the end of a nine-month streak.
While it represents a 16.6% month-over-month dip from nearly $1.02 billion in wagering activity from May, it is an impressive 27.4% year-over-year spike from almost $668.2 million in last June.
June's totals surged the year-to-date Illinois handle past $6.5 billion.
Adjusted gross revenue
Illinois sportsbooks earned $94.6 million in adjusted gross revenue in June thanks to an all-time high 11.2% hold.
Illinois sportsbook revenues dipped 6.2% month over month from just over $102.5 million in May, but the 11.2% hold mitigated bigger declines. However, adjusted gross revenues are up 73% yearly from nearly $54.7 million last June, when the win rate for Illinois's best sportsbooks was 8.2%. Residents should check out Illinois sportsbook promos.
With June’s totals added in, Illinois became just the third state since 2018 to surpass $3 billion in lifetime sports betting revenues, behind New York and New Jersey.
There was $14.2 million in taxes collected from sports betting profits in the Land of Lincoln in the last month of the state’s old 15% tax revenue collection policy. Starting July 1, Illinois’ new progressive tax rate will start at 20% for the lowest-earning sportsbooks and climb to as much as 40% based on monthly profits for the biggest earners.
DraftKings comes out on top
DraftKings came out on top of the battle to be the most popular Illinois sports betting app in June. It accepted $322.8 million in bets and claimed $29.7 million in winnings from a 9.2 hold. Adjustments by the Illinois Gaming Board made that total $38.8 million with a 12.1% win rate.
FanDuel Illinois was second with $280.3 million in accepted bets in June and $36.4 million in revenue from a 13% hold.
The rest were much farther back, with BetRivers coming in a distant third with $4.8 in revenue from a $54.9 million June handle. Fanatics Sportsbook missed out on the podium with $41.5 million in wagers and just over $4.5 million in earnings.
Illinois can also thank a nice win rate on Parlay wagers for June’s profits. A 17% hold on a $243.3 million multi-leg wager handle, tops among the Illinois sports betting types, generated $41.3 million in revenue.
